1. Research & Identification of Good Practices Relating to Business Angel Market. Martin Carr Milano 10 th November 2010 Exemplas Ltd

2. My Background Employed by Exemplas – UK Operates various support programs for early stage and growing businesses. My role Finance/Strategic planning Operated: Business Angel Network Investment Readiness Programs Founder Member EBAN – European Business Angels Network BBBA – British Business Angels Association Was invited to join this program in view of experience last 12 years in UK.

3. The Macc Bam Project MACC BAM - Identify measures to accelerate the Mediterranean Business Angels market/ Share best practice Project runs April 2009 – March 2012 Partners from: - Attiki region (Greece) - Lombardy region (Italy) - Provence Alpes Cote d Azur region (France) - Rhone Alpes region (France) - East England (England)

4. Project Theme Business Angels (informal investors) accepted as important role to play in developing entrepreneurs & wealth & job creation. Transfer and share best practices in Europe to the Mediterranean region. Reinforcement of Co Operation between partners that demonstrate proven experience in activities and establishment of B.A.N’s

5. Expected Impact Raise Awareness of Business Angels and B.A.N’S Promote public sector support for B.A.N’s Foster public participation In Co Investment Funds Test tools & practices such as Equity Guarantees, Investment Readiness Programs. Establish BAN support networks.(Support Managers) Implement & pilot strategic plan for development of B.A.N’s

6. Research Good Practices Conducted research through partners, England, France, Greece, Italy, Europe, EBAN Each country conducted questionnaires to identify good practices and challenges. Challenges – Difficult sometimes to obtain information. Not all countries have national association networks. France – Yes Italy – Yes UK – Yes Greece – Not Yet – at early stage

7. Research Good Practices We obtained feed back from countries Task force meeting held UK Jan 2010 to discuss practices. (reps from each country) After this meeting identified - Challenges for BAN’S - Good Practices

8. Programs & Challenges Facing Networks Financial Sustainability How to recruit good Angels. How to obtain quality dealflow.

9. Good Practices Important to exchange good practices between B.A.N Importance of training: - For Investors - For Entrepreneurs Investment forums (Bringing investors/investees together) National association that supports networks Creation of links with local, public players, universities, others working for new businesses creation.

10. Good Practices BAN manager lobbying public authorities in respect of importance of Angel Investing to help development of start up/early stage companies. Provide tools, know how in setting up national organisations. Networking Toolkits – For BAN (e.g. code conduct, investor agreements etc)

11. Good Practice Co Investment Funds Establishment of Co Investment Fund Invests alongside investors Uses skills of investors, but doubles their capacity Invests Pari Passu Uses due diligence of investors Uses skills of investors to develop businesses Offer funded by public sector

12. Good Practice Investment readiness Programmes Programs to educate entrepreneurs:- - Identify appropriate finances - Build viable business models - Present a good business plan - Pitch convincingly to investors (Major Problem)

13. Good Practice Investor Training Programmes Some networks operate programs (training programs for investors) Some keen to invest but don’t know how to an implications Encouraging syndicates with experienced lead investor.

14. Summary Business Angels contribute to funding early stage businesses Business Angel Networks required to bring investors/companies together. Business Angel Networks work well when supported by associations/national network Importance of Investor and Investment Readiness programs.

15. Martin Carr martinc@exemplas.com +44 7879433882