News from the European early stage investment community
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November 2013
Flash #94

Participate in the world's largest Angel Investment awareness initiative

The European Business Angels Week (EBAW) is around the corner and we recommend you to start looking for events in your area.

Concentrating over 130 events all across Europe, the EBAW is the reflection of a growing business angels community. With a 5,1 billion Euros investment record last year, European business angels are increasingly active and wide-spread. With events running in 31 countries, this cross-border initiative is already the biggest angel investment awareness initiative ever done in the world. 

Whether debates, investment forums or workshops, there is a multiple offer of initiatives that will bring angel investors closer to the entrepreneurial community and that you shouldn't miss.

Search for events in your country:

EBAN meets the European Commission President

Photo: Francisco Banha (EBAN), Jose Manuel Barroso (EC) and Paulo Andrez (EBAN)

EBAN met recently with Jose Manuel Barroso, President of the European Commission, to express its views on the relevance of early stage investors in the economic recovery of Europe and in the creation of jobs. Although the European angel investment is growing (7% in 2012), access to finance is still a challenge for many European SMEs. EBAN representatives Paulo Andrez (President) and Francisco Banha (Board) presented to Barroso a set of policies and actions aimed at bringing more private funds into the early development stages of SMEs and expressed EBAN's availability to cooperate in their implementation both at European and member states level. One of those actions is the European Business Angels Week which is creating an unprecedented initiative in Europe and worldwide.

European Business Angels Week presented to Neelie Kroes

EBAN President Paulo Andrez and EBAN Vice-President Ari Korhonen met in Vilnius, Lithuania, with Neelie Kroes in the context of the European ICT 2013 Conference. The meeting allowed to present to the European Vice-President and Commissioner for the Digital Agenda the objectives and framework of the European Business Angels Week and to express EBAN's availability to collaborate in the Startup Manifesto and Startup Europe initiatives.

Photo: Ari Korhonen (Vice-President of EBAN), Neelie Kroes (Vice-President of EC) and Paulo Andrez (President of EBAN)

EBAN expands its reach

EBAN is extending its reach by positioning the organisation as an European trade association for all investors operating in the early stage sector. EBAN was founded in 1999 focused on angel investment and has later opened its community to early stage focused venture capital funds. Recognising the new players which are now populating the market and impacting the entrepreneurial community, EBAN has approved new statutes in its last General Assembly held on October 3rd in Moscow. The new guidelines extend the organisation's full membership to Electronic Funding Platforms, Business Accelerators and Co-Investment Funds opening the door for a more diverse organisation and increased collaboration and debating between the different partners operating in the early stage investment sector. Despite the new membership categories, EBAN will keep its core activity within the angel investment community.
Following the approval of the new statutes, EBAN is already welcoming its first Electronic Funding Platform member Startup Stock Exchange which proposes a public stock exchange for start-ups. 

EBAN welcomes 3 new members

Startup Stock Exchange (SSX), Curacao (Electronic Funding Platform - First category member!)
SSX provides a regulated marketplace for startups and small businesses to sell ownership shares directly to qualified global investors. The listed shares trade freely on a government regulated securities exchange (DCSX) providing investors a liquid market where they can invest at any level of ownership and any stage of growth. 

Mutuma Marambu, Kenya (Affiliate Member)
Mr. Marambu is a successful and dynamic entrepreneur who is actively involved in startups in Europe and sub-Saharan Africa. He is now in the process to establish the Kenya Business Angel Network (KBA) in Nairobi with the support of EBAN and Sophia Business Angels (SBA).

Audra Shallal, France (Affiliate Member)
Ms. Shallal is a business angel investor seeking to promote Business Angels' activity in Europe and beyond (MENA region). She is also contributing to the reinforcement of the entrepreneurial eco-system in respective countries by sharing best practices and capacity building.

New media partnership partnered with EBAN to provide our members with special rates, complementary seats at their events, news/ information sharing and other opportunities. For further information about these advantages check the EBAN news section and the calendar regularly or contact the Secretariat.

EBAN Partners' Updates

Gust - Which angel investors are interested in crowdfunding startups?
David Rose: Taking a look at some operating US-based companies that currently come to mind when thinking about the space (Kickstarter, Indiegogo, AngelList, Gust, CircleUp), some of the known angels who have invested in them include: Jack Dorsey, Caterina Fake and Lewis Gersh.

Gust - When A Startup Chooses IPO Most Founders Are Out
Martin Zwilling: Many entrepreneurs still dream of “going public,” making billions of dollars, and playing with the big boys. They don’t realize that this option would likely be their worst nightmare, since it costs millions for the road show, usually dilutes your equity to a tiny fraction, and takes away all your entrepreneurial control.

Zephyr - German Eye-Tracking System Developer Kicks Off Angel Fundraising for Q4
«The third quarter of the year declined on the previous three months in terms of both volume and value. In total there were 78 angel investment transactions worth a combined EUR 99 million. This represents a 20 per cent drop by deal numbers and 24 per cent by aggregate values.»

      EBAN Partner
Gust - venture forward
EBAN Research Sponsor



FiBAN gathered statistics from business angels about the difference between proposed value of a company and the actual value used in the deal. Conclusions suggest that slightly over 50 % of the financed companies got the valuation they asked for, while the rest received financing at a lower valuation with an average discount close to 30%. 

 Irish business angel-backed start-ups nail it – break €55m investment milestone (source: Silicon Republic)
Early stage companies in Ireland have secured a combined €55m from angel investors via 128 deals over the past six years. The Halo Business Angel Partnership (HBAP) said 60pc of this angel funding came from individual business angels who have invested ‘hard cash up-front’. Syndicate groups are making up the remaining 40pc that has been invested in Irish start-ups that have received the €55m investment.

Portuguese Business Angels Week
Portuguese angel investors federation FNABA will be hosting the 7th edition of its National Business Angels Week from the 18th to the 24th of November. Multiple events are expected in 10 different cities to increase angel investment awareness and to make a final push for the application of the remaining funds available under the COMPETE co-investment fund to be spent until 2014. The first event of the week - the Portuguese BA Congress to be held in Cascais will also be the opening event of the European Business Angels Week.

London Business Angels invests in risk management solutions company
Contego Fraud Solutions, a rapidly growing risk management software company, has announced that they have raised £900k in their latest investment round. Investment has been secured from a syndicate of London Business Angel Investors amongst other investors. 
Experiences convering period 1-8/2013

Austria angel community with the Pionners Festival
The European entrepreneurship cream met in Vienna, Austria, for another successful edition of Pioneers Festival, a mega international gathering of over 2500 guests and speakers. 

 Business Angels Network Catalunya and La Fundación Biodiversidad start INVER, a Pioneering Program to Invest in “Green”
INVER encompasses 11 activities – personal assessment meetings, informative sessions, an Investment Readiness training program and a Forum – to be held in Catalonia, Madrid and Balearic Islands. INVER expects to attract up to 500 “green entrepreneurs”

Venture Capital IT
Gesventure/ Business Angels Club will be hosting the 8th Venture Capital IT in Lisbon from 10th to 11th of December. VCIT is Portugal's leading venture capital and entrepreneurship congress and a bridge for knowledge exchange featuring many invited speakers from the EBAN community.

Baybars Altuntas: The Making of a Dragon Entrepreneur (source: Soho Loft)
Article about Baybars Altuntas, founder of TBAA and Executive Committee member of EBAN on his quest to success.
With the European Capital of Innovation Award, the European Commission wants to acknowledge the outstanding achievement of a city in building up an innovation ecosystem, i.e. a system which links the citizens (People) with a built environment (Place) and public organizations and policy-makers (Public) through business (Private).
The contest is open until 3 December 2013. The award of €500k will be given to the winning city to scale up its achievement.

SMEs' myths on which public policies are built
by Christian Saublens, Executive Director of EURADA and Honorary Board Member of EBAN
«Thinking about the policy debate regarding public support services to innovative enterprises, EURADA's Christian Saublens increasingly realizes that policies are based on myths and on an asymmetry of information between the public sector or its intermediaries and the private sector. Here are a few of those myths.»

by European Crowdfunding Network

Intellectual Property Rights in the Global Creative Economy
by World Economic Forum

EBAN Gold Members

Aktif Bank - EBAN Gold Member
HERDEM&Co. - EBAN Gold Member

EBAN represents the largest marketplace for entrepreneurs. By joining EBAN you support the leading European organisation focused in improving the investment conditions for early stage investors to reach its mission and goals. We offer a unique combination of ways to meet early stage investors, combining our passion, expertise and networking within the sector.

EBAN website's Members Area

Access the EBAN members' exclusive area in our website to:
- Publish your events and news
- Share and download angel's market publications and resources 
- Obtain exclusive access to discounted rates and special member's promotions

Claim your access

Please note this is restricted to EBAN members. Would you like to benefit of this area please apply for membership.


Raising Business Angel Investment - European Booklet for Entrepreneurs by EBAN and HBAN

Raising Business Angel Investment - European Booklet for Entrepreneurs

Get a FREE copy!

Upcoming events from the EBAN community and partners

To have access to the full list of events taking place in November, some of which in the context of the European Business Angels Week, visit the following link.

11 November
Angel Capital Expo
Barcelona, Spain 

11-14 November
Investors coming to EU – meet them at Guggenheim
Bilbao, Spain
15% Discount for EBAN Members!

12 November
EBAW: Seed Forum Oslo
Oslo, Norway

12-13 November
Cleantech Summit
Milan, November 
20% Discount for EBAN Members!

13-14 November
Nordic Business Angel Conference - In cooperation with Slush
Helsinki, Finland

14 November
Crowdfunding: The Innovative Solution for Companies' Funding
Asturias, Spain

18-24 November
European Business Angels Week
Multiple angel investing related events across Europe wait for you!

20-21 November
Investors' Summit Liechtenstein
Schaan, Liechtenstein

21 November
Crowd Dialogue Crowdfunding
Munich, Germany

22 November 
Foro de Inversión InnoBan
Vigo, Spain

26 November
VCT and EIS Investor Forum
London, United Kingdom

27 November 
4th CleanTech Investing Seminar
Lausanne, Switzerland 
2 complimentary seats and 40% discount offered to EBAN members

28 November
10th Business Angels Day
Antwerp, Belgium

28-29 November
Euro-Mediterranean Investment Academy
Tunis, Tunisia

10-11 December
Venture Capital IT
Lisbon, Portugal

European Early Stage Investors Atlas

Presence of EBAN team across the globe

Baybars Altuntas participated in the Nordic Life Science Days 2013 on October 14th-15th in Stockholm, Sweden.

Candace Johnson participated as a speaker in the CorkBIC Going International Conference on October 16th in Cork, Ireland.

Paulo Andrez participated as a speaker in the 2nd Crowdfunding Conference on October 19th organised by the European Crowdfunding Network in Berlin, Germany.

Baybars Altuntas and Paulo Andrez participated as speakers in the World Entrepreneurship Forum from October 30th to November 2nd in Singapore.

Baybars Altuntas participated as a speaker in the  Xl - Bootcamp Ventures held on November 6th in Instabul, Turkey.

Paulo Andrez met on November 6th with Estonian authorities and Estban for a future scheme development for Business Angels in Estonia.

Ari Korhonen and Paulo Andrez participated as speakers in the ICT 2013: Create, Connect, Grow Conference from 6th to 8th November in Vilnius, Lithuania.

Paulo Andrez will participate as a speaker in the Angel Expo and Conference organised by Keiretsu Forum on November 11th in Barcelona, Spain.

Francisco Banha and Candace Johnson will participate as speakers in the Asian Business Angel Forum from 21st to 22nd of November in Mumbai, India.

EBAN Board Members will be speaking in multiple events during the European Business Angels Week. Check the full calendar of upcoming events.

EBAN membership categories

Full members
- Business Angel Networks
- Business Angel Federations
- Angel Syndicates
- Early Stage Venture Capital
- Seed Funds 
- Co-investment Funds
- Business Accelerators
- Electronic Funding Platforms 

Affiliate members 
- Business Angels Private Individuals

Associate members 
- Other non-investing Market Players

For additional details and to apply for EBAN membership please follow this link.

EBAN - The European Trade Association for Business Angels, Seed Funds, and other Early Stage Market Players

Rue Vautier 54 | 1050 Brussels | Belgium

T: +32 2 626 20 61
F: +32 2 626 20 69

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