Grant Programme to Business Angel Networks of ACCIÓ-Catalonia Trade & Investment
Published on 07 May 2020
Spain
This is the good practice's implementation level. It can be national, regional or local.
About this good practice
This grant programme awarded by the Government of Catalonia through ACCIÓ-Catalonia Trade & Investment addresses the accredited Business Angels Networks in Catalonia with the aim to foster investment into Catalan startups and businesses with high growth potential.
The amount granted is based on the funded deals closed annually by these networks. The criteria gives a certain score to every business angels network considering their number of closed deals and the amount of each of them. It scores equity deals (capital subscription) higher than debt deals (participatory loan) as well as the ones with more than 3 co-investors participating in it. Business Angels networks can apply for them if they closed successfully during a year, at least, two investment operations for a minimum value of €20k each.
Once the business angels networks are ranked based on closed deals and invested amount, the three ones with the highest score could get a maximum of €30k grant and €15k for the remaining five networks. Other networks with less score will not have access to any grant should no money is available.
Networks can apply for the grant by filling an online application form and submitting the documentation that proofs that the operation was successful (bank receipts, public deeds, entrepreneurs and investors registration receipts to the networks).
The amount granted is based on the funded deals closed annually by these networks. The criteria gives a certain score to every business angels network considering their number of closed deals and the amount of each of them. It scores equity deals (capital subscription) higher than debt deals (participatory loan) as well as the ones with more than 3 co-investors participating in it. Business Angels networks can apply for them if they closed successfully during a year, at least, two investment operations for a minimum value of €20k each.
Once the business angels networks are ranked based on closed deals and invested amount, the three ones with the highest score could get a maximum of €30k grant and €15k for the remaining five networks. Other networks with less score will not have access to any grant should no money is available.
Networks can apply for the grant by filling an online application form and submitting the documentation that proofs that the operation was successful (bank receipts, public deeds, entrepreneurs and investors registration receipts to the networks).
Resources needed
Up to €165k per year altogether.
Evidence of success
Since the creation of this grant programme in 2012, the funding deals of the Business Angels Networks have increased significantly. At that year, through theses networks a total amount of 66 deals were achieved and €10,6M were invested into companies. In 2018, 6 years afterwards, 79 deals were achieved and €14,8M invested. Year after year both the number of deals and the total amount invested have been increasing.
Potential for learning or transfer
Other ecosystems needing to improve the funding of early stage companies could initiate such a programme to make sure that this activity is being fostered for the long term.
This is an innovative tool for supporting business angels and fostering their willingness to invest in start-ups from the region’s ecosystem, helping therefore to the competitiveness of the region’s start-ups.
Also, by providing the grants only to accredited Business Angels or networks, it helps also to better map the financial ecosystem and to have a comprehensive view of the different actors, which will increase the efficiency of the policy making process.
This is an innovative tool for supporting business angels and fostering their willingness to invest in start-ups from the region’s ecosystem, helping therefore to the competitiveness of the region’s start-ups.
Also, by providing the grants only to accredited Business Angels or networks, it helps also to better map the financial ecosystem and to have a comprehensive view of the different actors, which will increase the efficiency of the policy making process.
Further information
Website
Good practice owner
You can contact the good practice owner below for more detailed information.
Organisation
ACCIÓ-Catalonia Trade & Investment
Spain
Cataluña
Contact
European Projects Coordinator