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Minister groups ‘business angel’ networks

Patricia Ceyssens, Flemish Minister for the Economy, Foreign Policy and E-Government, has launched a new Business Angels network grouping 120 private capital organizations that handle some 150 investment files annually.



Integration of the existing four networks into one is among four moves the Minister is making to increase capital availability for businesses based on the three “Cs”: competitiveness, creativity and connectivity. In the past five years around 70 companies have found informal investors through the four networks with the average investment between 25,000 and 250,000 euro.

The Minister said that the merger of the four networks into one was a necessity in order to achieve a more efficient way of working as well as to raise the scale and quality of operations for both investors and companies.

 

Reported by
FIT
12 February 2004

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