European Investment Forum brings together entrepreneurs and investors
Leading European investors were brought together with 44 of Europe's most promising information and communication technology companies at the European Investment Forum in Helsinki, on 22 and 23 November 1999. The specially selected companies had a unique opportunity to present their strategic and financial plans to a select audience of 250 potential investors. The Forum, which ran in parallel to the Information Society Technologies Conference and Exhibition, IST 99, aimed to tighten the links between the entrepreneurial and financial communities to better exploit the results of R&D investment. Promoted by the European Commission's IST programme, it is part of a series of ongoing events. Companies employing high technology often find it difficult to find investors because the technology is difficult for the investors to understand and the companies are often unskilled at communicating its potential, explained Maeve Power of Forum organisers Europe Unlimited. In preparation for the event the 44 technology ventures were tutored at the Venture Academy receiving advice on their business plan and how to present their projects. The companies aim to raise more than 200 million euros to finance their ambitions. The Forum provides a valuable opportunity to network and partner with other companies, and many take the opportunity to do business at the IST conference. Private space is provided for the investors and companies to get together and talk business. Mike Peters of Knowledge Genesis International, whose company participated in the Forum said: 'In two days we found a wealth of potential investors and business partners - it was the best networking event I have attended in years.' Opening the Investment Forum, European Commissioner Erkki Liikanen stressed the need for removing barriers in Europe's venture capital market and encouraging entrepreneurship. He noted that although the risk capital market is growing rapidly, Europe still has a long way to go if it is to compete with the United States. He noted the European institutions have developed a range of support instruments and services, and committed the Commission to developing more. He said: 'ICT is one of the most important sectors for Europe in terms of potential job creation. Rapid transposition of the results of ICT research into new products will have an immediate impact on most economic sectors and lead to an overall improvement in the competitiveness of European industry.' The European Investment Forum is organised by a consortium of private partners including Europe Unlimited, IP Strategies, the Federation of European High-Tech SMEs and ISES. The next Forum will take place in Berlin, Germany, on 10 and 11 April 2000.