{"id":6533,"date":"2019-05-21T11:29:23","date_gmt":"2019-05-21T10:29:23","guid":{"rendered":"https:\/\/the-slovenia.com\/?p=6533"},"modified":"2019-05-21T11:29:23","modified_gmt":"2019-05-21T10:29:23","slug":"business-angels-time-to-shine-in-slovenia","status":"publish","type":"post","link":"https:\/\/the-slovenia.com\/en\/uncategorized\/business-angels-time-to-shine-in-slovenia\/","title":{"rendered":"Business Angels’ time to shine in Slovenia"},"content":{"rendered":"

Published on 29\/04\/2019<\/strong><\/p>\n

Tax incentives for business angels and other private investors going into an investment cycle could redefine the innovation environment for start-up companies in Slovenia.<\/p>\n

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“It is not in itself logical that private investors invest in riskier and less predictable start-up companies. To encourage them, there should be systemic incentives from the state,” said Philippe Gluntz, Honorary Chairman of the European Business Angels Association (BAE), at a meeting for private investors and other participants in the innovation and investment environment in Slovenia on 16 April 2019 as part of the ESIL programme.<\/strong><\/p>\n

Gluntz<\/strong>\u00a0addressed over 40 participants: amongst them private investors, successful entrepreneurs, representatives of the banking sector and state ministries. Prominent speakers included a representative of the Ministry of Economic Development and Technology\u00a0Alenka Marovt<\/strong>, a representative of Business Angels of Slovenia,\u00a0Niko Slavni\u010d<\/strong>, and the director of the Chamber of Commerce and Industry of the Central Slovenian Region,\u00a0Marta Turk<\/strong>. At the round table,\u00a0Matej Penca<\/strong>, an experienced representative of venture capital funds and the procurator of the Slovenian \u2018unicorn\u2019 BIA Separations joined the conversation, together with\u00a0Luka Mohori\u010d<\/strong>, the founder of Animacel, a growing bio-tech statup. The meeting was introduced by\u00a0Jurij Giacomelli<\/strong>, as\u00a0head of the ESIL program for Slovenia<\/a>.<\/p>\n

The Early Stage Investing Launchpad<\/strong>\u00a0is the European Commission’s programme to promote private investors, which represents a two-year project of improving the innovation and investment environment in over 40 participating countries, non-EU members and non-EU countries. The main purpose and goals of the programme are to exchange knowledge and connect experienced and existing business angels with new and potential investors. As a result, ESIL creates a wide network of private investors across Europe and contributes to an increasingly dynamic ecosystem in which startup companies can successfully grow. Through its events, digital academy and online seminars, ESIL provides access to knowledge and experience, offers support infrastructure and acts as an educational agent amongst all stakeholders in the field of investment.<\/p>\n

In his introductory address,\u00a0Jurij Giacomelli<\/strong>\u00a0presented ESIL and Slovenia’s main challenges in investing in start-up companies, where “dialogue with the state is crucial for the development of the investment ecosystem.”<\/p>\n

Niko Slavni\u010d<\/strong>\u00a0generally perceives a lot of improvements and emphasises that in Slovenia it may even be \u201ctoo easy to start your startup. \u201cThe main task is to promote investment and, with tax incentives, to stimulate reinvestment,\u201d he said. He sees problems mainly in the area of lack of cooperation and communication with the state and the current state of financial policy in this field. \u201cIn Slovenia, companies face the challenge of gaining higher investment for expansion and growth, as no strong investors are present in our area.\u201d Ljubljana is one of the friendliest startup cities, while Slovenia is ranked fourth when considering the number of \u2018unicorns\u2019 per million inhabitants,\u00a0Slavnic<\/strong>\u00a0pointed out.<\/p>\n

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\u201cThe simple and hospitable environment that exists in Slovenia enables the establishment of companies and the development of entrepreneurship,\u201d\u00a0Alenka Marovt<\/strong>\u00a0described the desired image of the country and presented in detail the landscape of incentives and measures of the Ministry of Economic Development and Technology and other ministries for start-up companies, investors and internationalisation. \u201cIn July, in the accelerators, three-month training programmes will be launched on entering foreign markets, with the possibility of hosting startup companies in centres such as Berlin, New York or Silicon Valley.\u201d<\/p>\n

Marta Turk<\/strong>\u00a0said there was not enough support for women entrepreneurs. With these issues, in recent years, they have been working with various projects that enable women to enter entrepreneurial activity.\u00a0Philippe Gluntz<\/strong>\u00a0joined in and emphasised that the only association of female business angels currently in existence is in France, and this trend is expected to spread to other countries in the future.<\/p>\n

The main speaker, Philippe Gluntz, has been investing for more than 12 years and currently supports 30 startups with his investments. Today, in France, it still co-operates with one of the most advanced environments for new innovative companies, which it presented to the participants in more detail.<\/p>\n

\u201cFirst of all, you have to explain to the state and convince them that it is necessary, through systematic incentives, to encourage private investors to invest. There are not many good reasons private investors to invest in risky and illiquid startup companies,\u201d explained Gluntz, and thus marked the main task for Slovenia. \u201cAlthough tax deductions alone are not enough, it must be recognised that being a business angel also means mentoring, active presence and cooperation with invested companies.\u201d<\/p>\n

Matej Penca<\/strong>\u00a0stressed, among other things, that grants of the state can also operate in a two-way manner: \u201cFor example, we received the support of the state, and later we suffered a lawsuit from their side due to different views on whether the conditions for its drawing up were fully met.\u201d<\/p>\n

\u201cInvestors who devote their own money and expertise to a particular company will be those most interested in its successful operation. Therefore, the state incentives must be destined to them, and the Slovenian government should be aware of this,\u201d Gluntz stressed in conclusion.<\/p>\n

For more info,\u00a0contact<\/a>\u00a0the\u00a0ESILangel for Slovenia<\/a><\/p>\n

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