Online platform to connect Business Angels with Entrepreneurs with innovative projects looking for investment and advice
MurciaBan, Business Angels Network is a private non-profit organization, whose mission is to provide a meeting place for Business Angels and Entrepreneurs who have developed innovative initiatives that need investment and advice to make them prosper and grow. We ensure a protocol and deontological code that will regulate all the relationships between all the components of the Network, putting in contact the demand and the private investors, willing to finance, advice and work in new companies or in their more initial stages of life. A Business Angels Network (BAN) aims to relate SMEs in the process of creation or expansion with investors. The objective is to be able to relate the financing needs and the "know-how" of the SMEs with the financial power and business leadership of the Business Angels. Murcia-Ban aims to regroup all the potential Business Angels of the Region of Murcia. Its objectives are the following:
1.To find innovative business projects with high growth potential that require financial resources to consolidate.
2.To locate investors who fit the profile of Business Angel and are willing to be part of the network.
3.To promote the investment of the Business Angels in Murcia, putting at your disposal business projects of high added value and adjusted to your investment expectations.
4.To establish an adequate infrastructure
5.To promote learning and continuous updating of investors
6.To offer specific training for entrepreneurs
7. Network

Resources needed

-Economic resources: technological platform (€ 8,000), development of internal procedures and training of the staff (€ 4.000), annual budget for customers training and conferences (around € 8.000)
-Assets: co-working+equipment
-Human resources: one full-time coordinator and one half-time worker

Evidence of success

No. PROJECTS WITH ACTIVE USER ACCOUNT: 129
No. OF INVESTORS: 73
DYNAMIZED INVESTMENT AGREEMENTS: 20
BUSINESS ANGEL INVESTMENT TICKET: € 60,000
INVESTORS CONSTITUTED AS AN INVESTMENT VEHICLE: 28
COMPANIES PARTICIPATED BY OWN VEHICLE: 1
No. OF INVESTMENT FORUMS: 14 EDITIONS
PROJECTS EXPOSED IN THE INVESTMENT FORUM: 80
Success stories at the following link
http://www.murcia-ban.es/casos-de-exito/

Difficulties encountered

1.Difficult to create scaelable startups ecosystem. It is important to close agreements with entrepreneurial programs, bics, accelerators
2.Difficult to get accurate information about the matchings
3.Difficult to find a economic suistinable business model under the traditional BAN philosophy

Potential for learning or transfer

All the procedures are clearly defined, the platform has been working during several years, there is a lot of interesting contents and contacts available that can make easier the arrangement of conferences and workshops, there are a lot of consolidated BANs of different sizes in different regions that open collaboration opportunities.

A BAN has a direct positive impact in the entrepreneurial ecosystem, and regional competitiveness. At the same time, a BAN can open indirect business opportunities and contribute to the launch of new interesting projects.

A BAN can contribute to the attraction of experienced Business Angels and technology based companies to the region where it is created.
Although the consolidation of a BAN normally is not a fast procedure, It allows a lot of learning opportunities and a better entrepreneurial ecosystem knowledge. Moreover, it contributes sensibly to a better networking possibilities at the same time that open other business opportunities.
Main institution
Centro Europeo de Empresas e Innovación de Murcia
Location
Región de Murcia, Spain (España)
Start Date
January 2008
End Date
Ongoing

Contact

Esther Peñalver Please login to contact the author.