Dissemination of the BAN concept. DVCA has had several articles in the national press as well as presentations and road shows.
DVCA has had several articles in the national press as well as presentations and road shows.
EU support
None.
4 DVCA will establish two sectoral networks around Autumn 2004: AgroBAN and CreativeBAN.
EUROPEANBUSINESSANGELNETWORK- Directory of Network 2006
FINLAND | |
Background
BA activities in Finland emerged as organised structures in 1996 initiated by a matching service of SITRA, which is an independent public foundation under the supervision of the Finnish Parliament. SITRA is a nation wide organisation that aims to promote the economic prosperity and the futuresuccess of Finland through its activities. For the first 5 years the BA activities were built moreover on BAs own activity, aided by a database on potential target companies. The concept was restructured in 2001: the new concept of pre-seed finance was launched in May 2001, including two major instruments: LIKSA and INTRO. LIKSA is a programme for the professional completion of business plans, funded by SITRA and Tekes. INTRO is a marketplace for business angels and other venture capitalists to meet technology companies in the start- up or restructuring phase. This well functioning platform has shown that far too many investments fail due to start-ups’ lack of marketing & sales professionalism. As an answer to this, since the beginning of the year 2004, INTRO also offers a channel (DIILI) for marketing & sales professionals to look for a new ‘entrepreneurial’ career in companies presented at the INTRO marketplace on sweat equity basis.
Statistics
Number of BANs | (1) | (1) | (1) | (1) | (1) | (1) | ||||||
Number | of | Business | - | |||||||||
Angels | ||||||||||||
Number of deals | - | |||||||||||
Number | of | accredited | - | |||||||||
projects | ||||||||||||
Number | of | commercial | - | |||||||||
BANs | ||||||||||||
Number of national BANs | - | |||||||||||
Number of regional BANs | - | - | - | - | ||||||||
National association | - |
During the period 1997-2001, the BA activities of SITRA can be presented as follows:
BA: between 60 and 150
n. of deals: between 8 and 12 per year
n. of accredited projects: between 60 and 100
BAN legal status
INTRO is an initiative started and conducted by SITRA, involved in private investors’ venture capitalactivities, with a clear vision to empower public/private partnerships.
EBAN members
SITRA is a founding member of EBAN.
EUROPEANBUSINESSANGELNETWORK- Directory of Network 2006 | ||
SITRA | M | |
Finnish National Fund for Research and Development |
Contact person Tuula LAITINEN
Contact details P.O.Box 160 (Itдmerentori 2)
FI-00181 Helsinki
Finland
T: +358 9 6189-9429 / +358 9 618 991
F: +358 9 6189 9277
E: tuula.laitinen@sitra.fi
W: www.sitra.fi/preseed
Type of Network National network
Date of creation 2001 (Initial start 1996 as Sitra Matching-
service)
Number of Employees 7
Legal status Part of SITRA
Hosting organisation SITRA
Formal partner organisations TEKES, National Technology Agency, for
LIKSA programme (development of
professional business plans).
Commercial/for profit network No
Funding sources
Public/National
Funds
100%
Number of projects | ||||||||||
submitted | Reorganisation | |||||||||
Number of Business | of | |||||||||
angels | ||||||||||
Number of women | n/a | n/a | n/a | n/a | n/a | all | ||||
investors | ||||||||||
Number of members | BA | |||||||||
recruited during the year | ||||||||||
Number of women | network | |||||||||
recruited during the year | ||||||||||
Number of deals made | activities |
Matching services of the network:
Internet Presentations
Bulletin / Newsletter (both printed and email)
Investment Forums
Personal introduction (on a one to one or one to group basis)
EUROPEANBUSINESSANGELNETWORK- Directory of Network 2006
How are clients acquired?
Information events / seminars
Direct mailings
Visits to enterprises
Articles in the local / national Press
Established co-operation with local institutional investors
Sectors of investment
5% | ICT | |
Biotech | ||
35% | 44% | |
Retail and services | ||
Manufacturing | ||
7% | 9% | Other |
(construction, | ||
BAN specialisation
None
Fees
No fees charged to business angels or entrepreneurs
Co-investment scheme
Investments made through INTRO are mainly based on co-investments by business angels or business angel groups and/or venture capital funds.
Website for more information: www.sitra.fi/intro/eng
N deals | |
N deals involving angels |