Nordic Angel Program has finished its second year of operations with four batches of the program run by four business angels networks in Estonia, Finland, Norway and Denmark (16 batches in total). The program launched successfully with good results which were elevated for the latest batch once stakeholders' attention and interest was attracted. The project finishes with all KPIs successfully reached while most work is to be done in attracting more cross-border investors and increasing the total investment sums that are invested into European ICT startups.
To address the first direct objective and enlarge the pool of active eraly stage investors, the following was achieved:
* Ca. 1,600,000 stakeholders were informed about Nordic Angel Program’s activities, including startups, investors, ecosystem stakeholders, general public.
* 16 Angel Investment Programs (NAPs) were organized in 4 countries.
* 1877 startup applications were received to take part of NAPs.
* 560 investors were involved in the trainings, workshops and due diligence process.
* 20% cross-border investors were involved in NAP on average.
* Approx. 3,250,000 EUR was invested (money transferred) into 19 ICT startups and scaleups chosen as NAP winners and additional 1,700,000 EUR committed to another 3 companies from NAP deal flow by investors influenced by the program that joined in the running batches or invested to runner-ups. As a result, close to €5,000,000 was invested or commited to invest into ICT startups by NAP-related syndicates in total.
The second objective of the proejct was to provide the investor and ICT startup community in EU with relevant up to date tools and practices for networking, learning and cooperative investment management the partners designed and implemented Nordic Angel Program methodology supported by the Startup Includer technology. With regards to this objective of the project, the following was achieved:
* A final version of NAP Toolbox was developed, completed and disseminated within the Business Angel Networks in Europe and beyond.
* Funnel management system developed and tested as follows:
- 16 Nordic Angel Programs organized in 4 countries and introduced to other interested BANs in Europe and further.
- 64 trainings, 54 workshops and 9 study trips organized for NAP investors as a way to broaden their knowledge, share skills and encourage best practice sharing.
* Technology platform ICT startup Includer was developed according to BAN managers' needs specifically and exploited by all partners, with its 4 modules targeted to support angel investing (in the interest of this project and its sustainability) fully completed within the timeframe and further developed according to continuous input received from BAN managers running NAPs.
