Business Angels Europe is closely monitoring the situation in our member countries with regards to the COVID crisis.
We are seeing our members making sure that startups are receiving similar support that SMEs and other industries are receiving from their respective governments.
On the other hand, our federations and networks are showing that angel investing should be an integral part of the solution.
Our Full Members (national federations) are bringing practical solutions to the table. As we speak, government officials are leveraging their expertise and platform.
Examples include Business Angels Netzwerken Deutschland , which has been quick to assess the measures taken by the German government. In the opinion of BAND, the programmed set out by the German government will by no means be enough to prevent the liquidity bottleneck of start-ups. BAND therefore considers further measures from the state to be necessary. However, as they forcefully laid out in their latest article, Business Angels are ready to help stabilize start-ups in crisis if the right schemes are put in place.
UKBAA also built a COVID-19 Resource Centre and is actively seeking ways to ensure that the latest measures announced by the UK Government to address the needs of businesses including access to loans, grants and reliefs can be speedily and effectively implemented and available for access.
With this in mind, UKBAA has recently conducted a survey on our members to gain a better understanding of the potential models that will stimulate the angel and pre-seed investment market. Its responses have been used to lobby for a new Co-investment scheme that would support investors to continue to help founders survive, maintain traction and raise their next rounds.
Finally, UKBAA is a founding member of the Save our Startups campaign.
IBAN has started a survey with their members to find out how they respond and what their needs are.
The actual Business Angel networks are rapidly adapting to the situation. Our member APBA from Portugal quickly postponed their events or turned the screening and matchmaking events online.
BAN Vlaanderen has completely shifted to digital matchmaking. Their deal guides also operate online. Big events will be postponed to later dates. In the meantime, BAN Vlaanderen has released a video online, ensuring the ecosystem that they will make sure to continue to invest and support entrepreneurs.
BeAngels has rapidly adapted to the situation and has since March 20th proposed all its pitching activities online thanks to the support of BAE partner Euroquity (BPI France). They inform us that their community is still going strong and several projects are under advanced due diligence. Also, their training courses are proposed to be delivered online for potential business angels or people who would like to know more about investing in start-ups. Do not forget to access the COVID-19-Startup Toolbox made by our Associate Member Allied for Startups, outlining the measures the governments are -and should be- making to support startups. Furthermore, in an open letter to European Commissioner Von der Leyen, they ask to make startups central to resolving the COVID-19 outbreak.