7th February 2012
ROI VC Conference launch
5th February 2012– Business Angel Funds of up to €85m are currently available to start-up companies across the island, Margaret Hearty, Director of Business Services and Programmes, InterTradeIreland has estimated.
Speaking at the launch of the InterTradeIreland Venture Capital Conference, she said that with a total of almost €50m investment in funding partnerships since the Halo networks were set up, there is an even greater opportunity for companies and that it is a crucial time for start-ups to become ‘investor ready’.
The 11th annual InterTradeIreland Venture Capital Conference, which will take place at Belfast City Hall on Wednesday 7th March, is designed to facilitate networking between Ireland’s leading venture capitalists, business angels and start ups that are seeking funding from across the island. The theme of this year’s conference is ‘Navigating the Funding Maze’ and will build on the experiences of companies that have been through the venture capital process and showcase the options and opportunities that are out there for Irish companies today.
Michael Culligan, National Director, Halo Business Angel Network speaking at the launch of the conference said: “The environment for start-ups has changed dramatically with the advent of lean start-ups, born global start-ups and the Social Local Mobile internet media revolution, bringing both increased opportunities and competition. Supports such as business angel investing, angel co-investment funds, accelerator programmes and seed venture capital funds are a response to this reality. Notwithstanding the severe macroeconomic challenges of recent years, there exists a vibrant entrepreneurial culture on the isalnd. This responsive entrepreneurial ecosystem is exactly the environment where business angel activity can flourish and play an increasingly important role in the creation of wealth and jobs.”
“Entrepreneurs should seek out angels who have entrepreneurial as well as domain experience and can genuinely contribute to the building of the company in an area where the founders need help. The Venture Capital Conference is a perfect chance for these entrepreneurs to meet some of the key investors in the Irish market and to see what they are looking for in a potential investment.”
Margaret Hearty added: “The island of Ireland has an excellent infrastructure in place to support new business and InterTradeIreland is at the coalface of this. Small and medium businesses will drive the future of our economy and they need support to take the opportunities and to grow. Research has shown that venture backed firms outperform non-venture backed firms. Job creation is also much stronger within VC backed companies, with research indicating that VC backed companies create 80% more jobs than non VC based companies. Our focus at InterTradeIreland is to work with SMEs to help them become first class investor-ready companies.”
“This event provides a unique opportunity for those looking to access funds to meet with leading venture capitalists and business angels as well as representatives from companies who have been successful in securing funding. As such, it is always over-subscribed so I would encourage anyone who wants to attend to book their place as soon as possible,” Margaret added.
InterTradeIreland offers a range of supports to early stage companies to ensure that they are better prepared as they seek to raise equity and that they are ‘investor ready’. This ranges from advisory services, education programmes, business angel finance and the All-Island Seedcorn Business Competition.
Delegates at the Conference will be able to put questions to the active venture funds on the island, hear first hand experiences from companies that raised finance as well as perspectives from key investors Danny Moore, Principal at Lough Shore Investments and Dennis R. Costello, Managing Partner at Braemar Energy Ventures. The conference will showcase not only the current sources of equity funding but also alternative sources of funding. As the only Venture Capital Conference on the island it is a flagship event for entrepreneurs, venture capitalists, business angels, investors and anyone with an interest in venture capital.
For more information on the InterTradeIreland Annual Venture Capital Conference and to register , please visit http://www.intertradeireland.com/vcc/. You can follow the Conference on Twitter - @VCConf and LinkedIn – Venture Capital Conference.
ENDS
For further information:
Morwenna Rice / Anne-Marie Curran
Drury
086 1940069 / 087 286 4079
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