|Phone||+359 (2) 490 42 25|
|Description||Smart Money for Startups|
The main activity of the Bulgarian Business Angels Network (aka BBAN) is to match the capital seeking entrepreneur with the informal investor. It connects those that have realistic business ideas, possess a sense of entrepreneurial skills and lack financing with private investors interested in doing business in Bulgaria and other South East European countries.
The main role of BBAN is to bridge the existing capital divide by linking entrepreneurs with investors and assisting VC funding of start-ups, pre-seed and seed seeking projects and companies in the early stages of their development.
BBAN works with three groups: Entrepreneurs - allowed to submit projects for free, provided they agree to a 5% success fee in case of a successful deal. BBAN created an award-winning website (www.startbusiness.bg ) to help entrepreneurs understand the capital raising process. It also served as the primary tool upon which the entire marketing and advertising communication policy was created in 2009
Business Angels (Investors) Business angels are charged an annual membership fee to become part of the informal Club of Angels at BBAN. The fee is currently set at less than 500 EUR. In terms of number of angels the Bulgarian Networkâ€™s membership base started building up in September 2009 and reached 30 investors in 2009. Other than access to the projects (including a unique angels platform), the members of the Network also receive the unique opportunity to gather together at the closed events of the Club, known as Cigar Bars.
Partners Some well-known regional institutions have been invited to collaborate with BBAN: banks, financial intermediaries, venture capital and seed funds, incubators, science parks, chambers of commerce, regional development agencies, business support providers, etc. These institutions provide the business angel network not only with deal flow or exit opportunities but also infrastructure, collaboration on the organisation of events, dissemination of information and overall development of the entrepreneurial marketplace in the country.
The Bulgarian Business Angels Network is the first and best perfroming angel investors network in Eastern Europe, officially registered as a for-profit, professionally managed limited liability company.
It became the strongest market player at the early-stage investment environment in Bulgaria and is a regular partner of the most promising entrepreneurship development initiatives in the country. Currently, it is considered to be the most active organization of the informal capital market in Eastern Europe, a representative body of the local angel investors and is recognized as a â€œbest performing networkâ€ in the region.