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To understand where this is all coming from, you first need to understand that most (if not almost all) tech start-ups today seek some sort of outside funding. It's become sort of a national sport to use other people's money (OPM) to either start a company or push it to the next stage.

This means that angel investors (whether as individuals or as groups/networks) are flooded on a daily basis with dozens of business plans and requests for funding. This has prompted some angel investment groups to charge fees of $25-$100 just to be considered by them (If you look at the investment groups and firms listed on Gust.com. you'll probably see some that have application fees).

Charging these fees is good for investors in two ways:

1. It helps cover some of the costs of running the investment group.
2. It separates the wheat from the chaff — The assumption is that only entrepreneurs who are fairly sure about their product will pay a fee.

Now, as I said, these fees are merely application fees. In other words, are you willing to pay me (the investor) $50 to read your business plan?

Because the market for investments has become so huge, it's natural that many companies will jump on the band wagon and offer entrepreneurs an opportunity to network with investors. Some will do it for free, some will charge for it.

Assuming you get to the point of actually being invited to talk to the investors, comes the big question of whether or not you will be charged for that meeting.

I am one of those who paid $100 to be considered by an angel group and was invited to present before them. Prior to the presentation, we were asked to pay $300 in order to cover the costs of renting the meeting room and catering for breakfast. Since there were four companies presenting, the angel group basically had $1,200 to reserve a meeting room and order catering for breakfast.

In exchange for the $100 and the $300, we were offered 15 minutes for a presentation and a Q&A session (total), as well as an opportunity to mingle with the investors during the breakfast (30 minutes).

We ended up not getting any type of investment, but quite frankly, I would do it again, given the opportunity. Otherwise, I am pretty much left trying to prospect for investors on my own and will probably never get such an opportunity to speak directly and in such a comfortable atmosphere with a group of potential investors. Going to investor/entrepreneur conferences doesn't really help much because you're just another one in the crowd.

To summarize — paying an application fee is something that's probably going to become the norm for 99% of the entrepreneurs. Paying to present before investors might not be the norm, but if it opens the doors and presents an opportunity, it just might be worth it.