Nordic Angel Program (NAP) is a new cross-border training and investing program for anyone interested in startup investing. The goal is to share angel investments’ best practices, inspire cross-border investing and offer a unique opportunity to screen and invest in the most promising early-stage startups in the Nordic & Baltic area. NAP culminates with a syndicated investment made in cooperation with experienced business angels.
NAP runs in parallel in four different countries by a consortium of angel networks from Denmark (DanBAN), Estonia (EstBAN), Finland (FiBAN) and Norway (BANNorway). Each three-month program offers a practical training covering legal and startup evaluation related questions, as well as other technical aspects regarding the field. NAP is coordinated by Nordic Business Angel Network NordicBAN, linking over 1700 visible business angels in the Nordic & Baltic region.
The startup deal flow will be managed by using Startup Includer’s investment platform. The deal flow evaluated will be linked by the leading startup events in the Nordic and Baltic area (Arctic15, TechBBQ, Latitude59) and finalized on stage with investment (s) selected by the group.
In addition to boosting business angel activity and funding available for startups, the goal is to develop a concept that can be replicated in any country. The two-year program is fueled by EU’s Horizon2020 and facilitated by Civitta, the leading independent management consultancy in Emerging Europe.
The programs in each country are now open and anyone interested in startup investing can apply to join at www.nordicangelprogram.com
According to the experienced Finnish business angel Teemu Varpanen, the program offers a safe way to expand his angel activity in the Nordic & Baltic region. “It is a great opportunity for me, however, starting business angels have the most to gain as currently they have less access to the best deals. Training your eye for detecting pearls and having access to the best deals takes months, even years of networking. Nordic Angel Program offers a speedway to the network, an acceleration to gain knowledge and direct access to the best deals,” he said.
“We want to reduce the risk triggered by inexperience. The first startup accelerator Y-Combinator was launched already in 2005. However, why have we always expected that only startups need shortcuts and not investors? In the way accelerators boost startups, Nordic Angel Program acts as an accelerator for business angels”, added Claes Mikko Nilsen, the head of Nordic Business Angel Network.
The main goal of the program is to increase cross-border investment activity and size in the Nordic & Baltic area. “Angel investing is typically very local, and a median angel group investment is approximately 200.000€. We need to increase the investments size to the level of more dynamic regions like Israel or London. Without larger investments, it is difficult for Nordic startups to make a global breakthrough,” said Nilsen.
The program includes investment trainings and study trips together with experienced angels. The group investment and due diligence is done by using a common investment platform Startup Includer. The three months program consists of four parts.
1. Building the investment group,
2. Training sessions for participants,
3. Group evaluation of startup applications from a startup conference,
4. Culmination with a group investment and follow-up.
Key Program Numbers
Those startup investors interested in joining the program can apply to one or several program in the link below.