The term Business Angel is not new. In the early days of Silicon Valley, the then Dean of Engineering at Stanford University, Frederick Terman, lent $500 to two of its graduates – Hill Hewlett and Fred Packard – to develop their business project. Over time, that small seed investment grew into one of the world’s leading electronics companies: Hewlett Packard. The concept has hardly changed since then: a "business angel" is an individual who has funds (a company director, a saver or successful entrepreneur) and provides projects with smart capital on an individual basis (i.e. their own capital, expertise and personal network).

EBAN - The European Trade Association for Business Angels

This is a non-profit organisation which represents the interests of business angels and their networks, as well as seed capital and other private financing models. It was created in collaboration with the European Commission in 1999 to investigate corporate finance models, identify best practices, promote the role of Business Angels Networks and support their internationalisation.

Ban Veneto is part of the Association. This Italian Business Angels Network provides a forum for new entrepreneurs who have created high-tech start-ups, and investors who are interested in offering some of their personal resources to innovative business projects. It is affiliated to the Italian IBAN network which brings together informal investors. The BAN Veneto network also offers additional services, such as providing stakeholders or participants with an online forum, channelling the search for Business Angels for the implementation of projects, supporting agreements made with start-ups, providing customised technology solutions, organising meetings and promoting the network’s internal communication.

Agents required for implementation

This recommendation can be implemented by the joint action of several companies, with the cooperation of Universities.

Ver leyenda explicativa

1. Interview with Mr. Boesso, Director of Veneto Innovazione.
2. http://www.banveneto.it/# - Business Angels Network Veneto.
   
3. http://www.eban.org/ - The European Trade Association for Business Angels.
   
4. http://www.iban.it/ - Italian Business Angel Network.