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.
E UROPEAN B USINESS A NGEL N ETWORK- 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)
E UROPEAN B USINESS A NGEL N ETWORK- 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 |
