est ban estvca-20130522
TRANSCRIPT
Ivar Siimar
A get-together with EstVCA.May 22 in Wabaduse Coffee. Thanks for the invite!
A few wordsabout EstBAN
Estonian Business Angels Network, EstBAN is an umbrella organization for business angels seeking investment opportunities in Estonia and its neighboring regions.
Join us if you want to contribute to the startup ecosystem with your funds and know-how and want to experience the satisfaction from this involvement.
Member poolFounding members:Villem Alango, Riivo Anton, Jaak Ennuste, Hardi Kampus, Marek Kiisa, Peeter Klanberg, Andrei Korobeinik, Guido Kundla, Allan Martinson, Harri Männistö, Indrek Neivelt, Martin Petjärv, Indrek Prants, Almar Proos, Priit Põldoja, Rolf Relander, Ivo Remmelg, Rikard Relander, Ivar Siimar, Martin Talts, Herty Tammo, Eero Tohver, Henri Treude, Raivo Vare, Heikki Visnapuu
Joined in 2013:Joel Aasmäe, Michael Bevin, Ivar Dembovski, Juan Herrera, Andres Kull, Rait Minumets, Yrjö Ojasaar, Rain Rannu, Arne Veske, Kari Sjöblom, Heikki Rautajoki, Margus Zuravljov, Sven Siimar, Tarmo Rooteman
> Established in December 2012 at present we are a group of 40+ angel investors
> We meet up 3 times per month on pre screening, pitch, training and networking events
> Decision making is individual> We may invest individually or in a
syndicate depending on the interest in the deal
> Our investment range is usually between 20…500 k€, individual investments in syndicate start from 5k€
★ information technology★ consumer goods & retail★ energy & environment★ financial services★ chemicals and materials★ green technologies
Top areas of interest
About us
> 40+ members by the end of the year> 100+ deals screened> 10…15 investments> 1 M€ invested
initial targets for 2013
> 40 members on board> 75 StartUps in the pipeline, some outside > 7 pitching events done> 3 investments made > 3-4 syndicates in the negotiation process > First membership application from Lady Angel. > Member of Eban since April. > Close relationship with FIBAN since day 1. > Participated in 13th Eban Annual Congress in
Vienna - new perspectives
so far..
> Members are extremely busy with daily business
> We are competing with family, girlfriends and golf > Lack of experience in StartUp investments and
syndication
> Need to market Angels as an important part of the ecosystem - paradigm shift
> To attract more Angels we need to establish attractive co-investment schemes with Est/EU institutions
Challenges to work with
Friends, sponsors & supporters
So, what’s being discussed on
European level?
The private sector plays a key role in creating new jobs and therefore, there is a need for a strong public-private partnership between member states, entrepreneurs and the investors that back them.
It is possible to create a virtuous cycle where private investors put their money in new companies creating jobs and also paying taxes.
In return, member states can reward and incentivize those investors through asymmetric exits, co-investment funds or tax breaks.
Source: EBAN Policy Note
5-point action plan by Eban> Consider Venture-Capital types of loans instead of grants.
> Creation of co-investment funds with early stage investors.
> Tax Breaks for early stage investors.
> Investment readiness trainings for entrepreneurs and early stage investors.
> Public awareness on early stage investing.
... in conclusion
We wanna be a serious player in EstVCA “1 billion” vision 2020.
experiences arebest when shared.
