Italian Business Angels Networks - IBAN Association

IBAN is an Association legally recognised by the Italian government

IBAN is an Italian registered trademark

Organisation

Since the eighties, particularly in UK and the Netherlands, was evident that Business Angels1 (otherwise known as "informal private investors") play an important role in the start-ups growing, as Business Angels play a catalytic role both in financial matters and management and can strongly stimulate the development of SMEs.

Due to these considerations and in order to encourage the potential of this resource for the under-financing SMEs investment segment, the European Commission organized in Brussels in June 1996, the first Conference of European Business Angels Networks. At that meeting it was decided to carry out a detailed study, presented in February 1998.

The study received financial support from DG XXIII (Directorate General for Enterprise) of the European Commission and has been developed by EURADA (European Association of Development Agencies) in collaboration with EBN (European Business and Innovation Centre Network).

Italian Business Angels Network Association (hereinafter referred to as "IBAN") was founded on March 1999, in the framework of a project launched by the European Commission – DG Enterprise, and it has been a founder member of EBAN, the European Association of Business Angels’ networks.

Early 2013, IBAN has been a founding member of BAE, Business Angel Europe Association (http://www.businessangelseurope.com/).

IBAN has joined BAE to contribute to create the lobbying and market platform for angel investing in Europe and to develop an authoritative point of contact for all angel investors outside Europe. BAE also bring clarity and professionalism in the European angel investing market and expand it thought the creation and reinforcement of National Associations.

Mission

Small and medium enterprises, in particular the new established start-ups have an increasing difficulty in obtaining financial resources since they are not always able to give the necessary

1 They are former business owners or managers in business who have financial resources (although limited), a good network of knowledge, a strong management skills and a good track record. They have the taste of running a business, the desire to acquire a stake in companies with high growth potential and interest to monetize a significant gain at the time of the exit, the goal of Business Angels is to contribute to the economic success of company and the creation of new jobs.

guarantees required by the debt capital system. The risk capital players believe that entrepreneurs are not always able to translate business ideas into profitable business ventures. Business Angels and their networks provide risk capital and concrete tools to entrepreneurs with the aim to build winning businesses.

To whom it may concern the network of Business Angels?

• Business men who want to invest a portion of their assets in a company that allows them to generate, over time, a good appreciation of invested capital.

• Successful entrepreneurs. • Highly experienced managers. • Sensitive guys to the fact of creating new businesses and new jobs.

Objectives - Activities

IBAN is the Italian National Association focused on the development and the growth of the Business Angels phenomena in Italy.

IBAN, a non-profit making association under the Italian law, has the aim to introduce in Italy the business angels - BA experience and to develop a national platform of BAN - Business Angels Network.

IBAN's members are territorial BAN’s, investors clubs, business angels and professionals in matching investors (formal and informal) with entrepreneurs, authorities and institutions. Also some individual business angels are engaged in IBAN activities.

There are examples of public sector, private sector and “not profit” organisations.

In addition, IBAN has links with the Italian Venture Capital Association (AIFI) and local and national associations of entrepreneurs; together with AIFI (http://www.aifi.it/EnHome.asp), IBAN filled an important gap in the Italian world of venture capital.

IBAN’s expertise include:

• Increasing the sources of financing for unlisted SME and start-ups. • Scouting and helping the financing of start-ups and SMEs (investment readiness). • Recruiting BA and facilitate the setting up of BA networks and clubs (ready to invest). • Organizing investments forum (national and international) between investors and

companies searching for capital with the aim to set up cross border investments. • Organizing Business Angels Academy training events. • Stimulating the exchange of experience among business angels networks and encouraging

"best practices".

Thanks to the professional skills of IBAN member’s, a few more relevant capabilities are concerning:

Searching for funds: institutions specialised in business creation, institutions specialised in fund raising, entrepreneurs (project of business creation), searching for funds, entrepreneurs (start-ups and SME) searching for funds.

Willing to invest: investors, business angels, investment funds, specialised departments of banks, companies willing to buy shares in other companies to reach a synergy, lawyers,

chartered accountants, consulting and technology due diligence companies, notaries intervening on behalf of their clients.

Since 1999, IBAN has created a strong “relationship network” that links Institutions and Economic operators know-how and expertise, covering all “value chain” in the “early stage phase”.

In this way, IBAN can really support “start-up” enterprises in their growing process. In order to reinforce Business Angel’s know-how and support networking and exchanges of best practices among them, IBAN has established the first Business Angel Academy in Italy and then, in partnership with KPMG Italy, has published the “Guide to setting up of a business with Business Angel”.

In according with European policy for improving the financial environment of SMEs, the IBAN main objectives are:

Contributing to working out and carrying out regional and national programmes of assistance to the creation and development of a positive environment for risk capital activities.

Developing and coordinating the activities of investment in risk capital in Italy and in Europe carried out by informal investors.

Contributing to removing financial, cultural, legislative and administrative constraints on BA investments; having a national voice when speaking to Italian government.

Promote the recognition of Business Angels and BAN as subjects of economic policy. Providing a point of reference for potential BA and entrepreneurs in Italy. Mobilising, for the benefit of SMEs, the pool of expertise and investment of BA. Increasing the sources of financing for unlisted SME, start-ups and projects of business creation. Scouting and helping the financing of start-ups and SMEs. Recruiting BA and facilitate the setting up of BA networks. Organising the confrontation of investors and companies or projects of business creation

searching for capital. Encouraging the exchange of experience among business angels networks and encouraging

"best practices": market information and statistics regarding business angels and venturing activities, trainings and workshops related to business-angel activities.

Stimulating Universities, Research Centres, Local Authorities, Industrial Association and Chambers of Commerce for the diffusions of BA concepts and the development of local programs / national / funds aimed at the creation and development of an environment conducive to informal investors.

Organising seminars and events in all national territory. Encouraging the development of local, regional, national and pan European networks;

performing linkages with the American and European BA networks. Encourage the exchange of experiences between the BAN.

Assuring contacts with European Commission. Maintain appropriate contacts with international organizations for the realization of the above

objectives.

In addition, the Italian Association of Business Angels by cultural activity, associative, editorial, constitute committees or study groups and research and undertake any other action that they acknowledge useful, lawful and adhering to the aims of the Association.

The BAN - Business Angels Network - activities

It is expected that the Business Angels are organized into local networks, known as BAN (Business Angels Network), the BAN are permanent structures that enable Business Angels to meet entrepreneurs seeking capital and managerial skills.

As the success of an SME depends on:

A good business plan. The financial means available. By the ability of the entrepreneur. A Business Angels Network (BAN) can provide solutions:

Assisting the preparation and development of a business plan, Acts as a financial intermediary. Supporting entrepreneurs in their decisions. Identifying business angels in the area (or Region). By bringing together Business Angels and entrepreneurs. Organizing the "forum" with investors. Compiling and disseminating awareness publications.

The BAN setup consists of several subjects which need to be involved in a visible and continuous basis, either directly in the day by day management or as a sponsor.

The promoters and the active players actors of the BAN network can be:

Individuals, such as business angels, particularly active in the area and / or engaged in associations or local authorities.

Organizations and / or institutions such as Chambers of Commerce, Business Innovation Centre (BIC), industrial associations, local development agencies, banks, companies active in the venture capital or in temporary management, consultancies, lawyers and accountants, etc.

IBAN has demonstrated competence and experience in managing UE projects.

Key personnel

Paolo Anselmo - Currently acts as President of IBAN Association and as advisor of national, regional and local authorities concerning the preparation of legislatives acts and other policy initiatives, in particularly concerning the regional development and innovation measures and actions, both in Italy and Europe.

Paolo has a background as engineer and a wide experience in working with multinational teams and cultures around Europe.

Actually, Paolo is also the Treasurer of ANIMA Investment Network (www.animaweb.org).

Up to May 2013, Paolo has been the President of INSME (International Network for Small and Medium Sized Enterprises (SMEs))

Previously, he has been involved in the EBAN’s (European Business Angel Network) and WBAA’s (World Business Angel Association) Board of Directors.

Since 1991 he is serving the board of several innovative start-ups and international Association.

Paolo has more than 15 years of experience-based knowledge in regional policy development, innovation strategies and measures and access to finance gained by the participation to several assignment at international level as senior consultant and project director. He fluently speaks in other 3 languages (English, French and Spanish) than Italian and has continuous relationships with Italian government and EC concerning innovation and finance.

Previously, Paolo has been (from 1994 to 2006) the Managing Director of the Aosta Valley Regional Development Agency (Centro Sviluppo S.p.A.). The background include designing public policies and legislation to foster competitiveness of small and medium sized enterprises; specializing in activities for the creation and development of new technology-based firms: consultancy, access to finance (seed and venture, guarantee financing schemes), incubation plus measures for spin-off promotion and growth.

Centro Sviluppo has been full member of various European Commission networks: as EIC, IRC, BIC (Paolo was the branch co-ordinator of IRC ALPS Consortium).

Paolo started his professional career (1984) encompassing a range of roles and responsibilities in large private helicopters transport companies based in Italy and Spain; in 1991 he was appointed Chief Executive.

Paolo (born in 1958) hold a MSc degree in Aeronautical Engineering obtained in 1982 from the Polytechnic of Turin (Italy).

Member of the Italian Society of Engineers, visiting professor and lecturer (entrepreneurship and access to finance) in some Italian Universities and external expert member in various European Commission working groups; Paolo has presented extensively talks and seminars on access to finance and innovation organised by different institutions at national and international level.

Luca CANEPA - Born in Milan in November 1957, Luca is an executive, business leader and adviser with extensive international experience. Luca has successfully supported businesses across multiple areas and roles as C-Level Executive, Board Member, Merging and Acquisition and Turnaround management, developing new businesses, implementing changes and managing company restructuring. In his role as Business Angel, with investment in Start-up, Luca has covered operational roles, defining business strategy and gaining interest of investors for new rounds and sale. Trilingual, together with his skills and experience working within varied and different cultures, Luca carries hard to match enthusiasm and motivation to support entrepreneurs and medium size organizations on business and shareholder

value creation.