Delegations from Nigeria, Zambia, Niger, Morocco and Egypt joined investors, entrepreneurs and policy-makers from 46 nations this week in Istanbul for the first ever World Business Angel Investment Forum. The forum was presented by the recently formed Global Business Angels Network (GBAN), an initiative from the Global Entrepreneurship Network (GEN). The organization that is also the driving force behind the Global Entrepreneurship Summit and the Global Entrepreneurship Week. The forum was organized by the European Trade Association for early stage investors (EBAN), the Middle East Business Angels Network (MBAN) and the African Business Angels Network (ABAN) in cooperation with the Business Angels Association of Turkey (TBAA).
The president of GEN and founder and co-president of GBAN Jonathan Ortmans explains: “GBAN is a global community of business angel networks and organizations that bring greater public awareness and engagement to the role that business angels play in helping new firms start and scale.” GBAN seeks to provide an inclusive, supportive community of early-stage investors around the world. “We interface with entrepreneurs, policymakers, other early-stage finance actors and leading entrepreneurial support programs to strengthen the global entrepreneurial ecosystem”, Ortman continues.
ABAN, the African Business Angels Network launched early 2015 to catalyze early stage investing in Africa, is a proud founding partner of GBAN. “Being connected to a strong active global ecosystem is a great next step for African investors and African startups”. ABAN co-founder David van Dijk comments from Istanbul. “Successful angel networks do not develop immediately, but rather over time. Being part of GBAN will help networks in Africa learn from experienced investors and established angel syndicates and angel networks. Plus this is simply a great community to promote the ‘African Opportunity’. We want to get many more investors excited about what is happening on the continent.”
Tomi Davies delivering a keynote address
The changing role of angel investors
Experienced angel investors continue to widen pools of startup funding in many entrepreneurship ecosystems. “Mentor financing’ not only increases the chances of companies becoming successful but also the critical mass of angel investors that can grow the sector stronger in their startup ecosystems, allowing new waves of startups to emerge. In all parts of the world angel networks work together on activities ranging from research to the setting of professional standards and it is great African networks can now easily tap into this global community of experiences investors.
ABAN joins global partnership with the International Chamber of Commerce.
One of the highlights in Istanbul was ABAN president Tomi Davies joining in the signing of a Memorandum of Understanding with the International Chamber of Commerce (ICC). The ICC is looking to take a more active in supporting SMEs raise funds and this new global partnership is to further fuel SME growth also across the African continent. The ICC having presence in all African countries means we can grow faster and support early stage investing also in countries where no formal angel networks exists today.
About ABAN:
African Business Angel Network (ABAN) is a pan African non-profit association founded to support the development of early stage investor networks across the continent and to get many more (early stage) investors excited about the opportunities in Africa. ABAN began as a consortium of independent investor networks including the Lagos Angels Network (LAN), Cameroon Angel Network (CAN), Ghana Angel Network (GAIN), Venture Capital for Africa (VC4Africa), Silicon Cape and supported by the European Business Angel Network (EBAN), the LIONS Africa Partnership and DEMO Africa. In the interest to connect these African networks, support new investors and new networks, to maximize their impact and to connect African investors to their global counterparts, the need was established to form a pan-African association of angel investor networks and other early stage investors: ABAN. For more: http://abanangels.org/
About the World Business Angel Investment Forum:
The World Business Angels Investment Forum 2016 brings together the best SME, public and corporate early stage market players currently working in collaboration to ease the access to finance for SMEs and entrepreneurs. For more:
About GBAN:
The Global Business Angels Network is a global community of business angel networks and organizations that is bringing greater public awareness and engagement to the role that business angels play in helping new firms start and scale. For more: http://wearegen.co/gban