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WORLD BUSINESS ANGELS INVESTMENT FORUM 2018: THE TAKE INVEST SUMMIT Helping the Next Generation of Great Companies Move Forward For the first time ever, the World Business Angels Investment Forum opens its doors to Start-ups, Scale-ups and High-growth Businesses: The Take Invest Summit On 19 - 20 February 2018, angel investors will come together in Istanbul at the annual meeting of the World Business Angels Investment Forum with the goal of creating new ways for start-ups, high-growth businesses, scale-ups, and SMEs to access finance. At this gathering of angel investors — the biggest in the world — we want to give 50 start-ups, scale-ups and high-growth businesses an opportunity to connect with hundreds of highly qualified angel investors from five continents. We are therefore allocating a special area within the World Business Angels Investment Forum where 50 start-up or scale-up or high-growth businesses will each have a 4-square-metre area to showcase their businesses. They will thus have exposure to highly qualified angel investors, family office executives, co-investment fund managers, angel investment group directors, corporate venture executives, accelerator executives, technopark investment directors and venture capitalists. The mission is to showcase the world’s top start-ups and scale-ups, which, typically, are funded companies that are in the process of raising €500K – 3M, with the aim of globalising. The WBAF Take Invest Summit 2018 will essentially be a co-investment platform for angel investors, start-ups, scale-ups and high-growth businesses. If you are an entrepreneur who wants to promote deals across borders and are looking for additional rounds of funding or new partners for international growth, I encourage you to learn more about how your business can benefit from this unique opportunity. Further details are available at Yours sincerely,

Nikolai Mavromatis

WBAF High Commissioner, Bulgaria

The WBAF Take Invest Competition Application Requirements Applications


• All applications must be submitted in English. • Applications will be accepted from 15 July to 30 September 2017. • Applications will be accepted online only, through or through an officially approved national competition portal. Offline applications will not be considered. • For start-ups: Start-ups need not be incorporated, but an incorporated company can only compete if it has been incorporated for 24 months or less at the time of application. • For scale-ups: Scale-ups must be incorporated and have received investment from an angel investor, a private equity, or a VC.

• The winners will be selected by a panel of judges who will be looking at a range of criteria, including growth potential, passion, creativity, level of idea development, and pitching skills, market potential, scalability, performance track record.

Industries • Bio tech • EduTech • FinTech • Food & beverage • Hospitality • IT & mobile technologies • Logistics

• Mobile payments • Renewable energy • Robotics & drones • Transportation • Virtual reality & gaming • Wearable technologies

• The scores of all judges will be weighted equally.

Timeline WBAF will accept applications for the WBAF Take Invest Summit 2018 from 15 July 2017. The last day to submit a complete application is 15 September 2017. The local finalists will be announced on 15 November 2017, and the 50 finalists accepted for WBAF Take Invest Summit will be announced on 30 November 2017. • 15 July 2017: Online application officially opens • 15 September 2017: Deadline for applications • 15 October 2017: Acceptance letters mailed • 15 November 2017: WBAF local competitions • 30 November 2017: Announcement of 50 finalists accepted for the WBAF Take Invest Summit 2018 • 19 - 20 February 2018: WBAF Take Invest Summit 2018

HOW TO PARTICIPATE Entrepreneurs can participate in two ways: a. WBAF 50 participation b. Regular participation

WBAF 50 participation The WBAF Investment Committee will identify 50 start-ups, scaleups and high-growth businesses to attend the WBAF Take Invest

Summit 2018 with a special reduced participation fee of â‚Ź500. To be eligible for the WBAF 50, you have to participate in the WBAF Take Invest Competition. Please read the WBAF 50 selection process carefully.

Regular participation Entrepreneurs who do not wish enter the competition or who are not selected as one of the WBAF 50 can purchase the same package for â‚Ź2500.

THE WBAF 50 SELECTION PROCESS Step 1: Application You can apply for the WBAF Take Invest online at If you are residing in one of the following countries, you will be re-directed to the competition for your country of residence: • • • • • • •

Bulgaria Croatia Greece Hong Kong India Kazakhstan Kosovo

• • • • • •

Montenegro Saudi Arabia South Africa Turkey UK Niger

If you reside in a country that is not on the list above, your application will be processed in the Global Applications section.

Step 2: Acceptance You will receive an official letter confirming acceptance for the competition. All confirmations will be sent by 15 October 2017. Absence of a notification by 15 October 2017 indicates that the applicant has not been accepted into the WBAF competition. The acceptance letter will include information about the following: • Competition place • Competition date • Competition rules

Step 3: The WBAF competition On a specified date and place, competitors will pitch to a jury of investors. On the same day, the top 3 start-ups, scale-ups and high-growth companies will be announced. These will be invited to participate in the WBAF Take Invest Summit on 19-20 February 2018 in Istanbul. Each country’s WBAF Commissioner will inform WBAF Headquarters of the Country Champions (the top 3). The WBAF Investment Committee will review the local winners and create the WBAF 50 list. Those selected for the WBAF 50 will receive an official letter from the WBAF Investment Committee confirming acceptance for the WBAF Take Invest Summit.

Contestant profile There are two types of WBAF contestants: Start-ups: Promising businesses that have not yet raised any outside capital from angel investors, venture capital firms or other formal sources of seed funding. Scale-ups: Typically, these are companies that have received funding from angel investors or VCs and who are now raising €500K – €3M with the aim of internationalising. Applications from both categories are welcome to enter the competition.

THE WBAF TAKE INVEST SUMMIT 2018 The WBAF Take Invest Summit: A meeting point for smart finance, co-investments, open learning and skill development The WBAF Take Invest Summit 2018 is a very important meeting point where carefully selected start-ups, scale-ups and high-growth businesses can connect with the most important angel investors, co-investment fund managers, VCs and private equities in the world. Aside from presentations by renowned thought leaders in the field of entrepreneurship and global angel investors, the event will feature keynote speeches, fireside chats, presentations and panel discussions. Each one will offer important insights into the start-up ecosystem. The summit will be also an open learning space for entrepreneurs to increase their understanding of the investment strategies of angel investors, fund-raising strategies of successful entrepreneurs, term-sheet negotiation techniques, company valuations, due-diligence check-lists of global investors, and ways to access co-investment funds.

WBAF 50 For WBAF 50 exhibitors, 2 free passes to the World Business Angels Investment Forum The 50 start-ups and scale-ups that are selected to comprise the WBAF 50 will receive two passes per exhibition to the World Business Angels Investment Forum Annual Meeting on 19 February. This offers an excellent opportunity for global networking with high net worth individuals, co-investment fund managers, bank executives, stock exchange executives, and VCs from all over the world. WBAF is pleased to sponsor these passes (a total value of €1500) to underline its commitment to helping the next generation of great companies move forward.

WBAF 50 – The €500 package Each start-up or scale-up or high-growth business selected as one of the WBAF 50 will be responsible for a €500 participation fee. This fee covers the exhibition and participation of two founders. (An additional €250 will be payable for each additional team member.) This €500 participation fee will include the following: • 4 square metres of exhibition space for 2 days (19 - 20 February 2018, Swissotel The Bosphorus) • 2 chairs • 1 table • free lunch boxes for each exhibition day • a 5-minute pitching slot on the showcase stage • 2 complimentary passes to the World Business Angels Investment Forum (a total value of €1500) • 2 free tickets for the WBAF Academy (20 February 2018, 2pm – 5pm, Swissotel The Bosphorus) • 2 free Masterclass tickets (18 February 2018, 2pm – 5pm, Swissotel The Bosphorus) • 3 nights accommodation for 2 founders at the ITU Hotel (Istanbul Technical University’s guest house on the university campus, within walking distance from the Summit venue. Founders will share a room with two separate beds.) • free breakfast at the ITU Hotel WBAF 50 who need financial assistance with the participation fee are invited contact the WBAF Administration at startup@

14 Panel discussions with over 100 global speakers WBAF shines a spotlight on the importance of corporate ventures to accelerate the angel investment market. But WBAF is proposing another path: Instead of wasting time and energy trying to convert employees to “intrapreneurs”, we’re saying: why not to bring in entrepreneurs from outside the company Let us give you an example of what corporate ventures are doing to create innovation: • they are setting aside a certain amount of their company’s budget to set up R&D departments, and • they are creating employee teams that will focus on innovation, and • by doing this, they are trying to convert their employees to entrepreneurs who create innovation. But WBAF is proposing another path: Instead of wasting time and energy trying to convert employees to “intrapreneurs”, we’re saying: why not to bring in entrepreneurs from outside the company — entrepreneurs who have already raised angel money. These entrepreneurs bring with them not only their know-how (including how to raise angel money), they also bring their network and an ability to mentor. The result is much better innovation in a shorter period of time because.

Such a new roadmap will open the way for early exits. If international companies follow this road, it can create further rounds of investment in the country. We are fortunate to have a wide range of participants at WBAF 2017, including the UK’s best angel investor, Singapore’s super innovator, UNIDO Executives, and the Trade and Industries Minister of Kosovo. These colleagues lad discussions on developing innovative financial and non-financial instruments to fuel the early and post-early stage investment markets.

Over 100 global speakers from 54 countries and 5 continents The Forum hosted more than 100 global experts as keynote speakers, panel discussion speakers, moderators, and fireside chat speakers from over 54 countries and 5 continents. Speakers included government ministers, world-class angel investors, super angels, chairpersons and presidents of some of the world’s leading NGOs, chairpersons of leading stock exchanges, technopark CEOs, and world-renowned academicians.

Key-note speech from Paul Doany Paul Doany, CEO of Turk Telecom, addressed the issue of empowering the world’s economies through partnerships between corporate ventures and angel investors. The world early-stage investment markets need innovative approaches to leverage start-up and SME ecosystems worldwide. Almost all global corporates have departments that leverage the innovation pipeline within the company. This keynote speech addressed the importance of global corporates forming partnerships with angel investors and angel networks and the impact of such partnerships the competitiveness of local economies with global markets. In this keynote speech, Paul Doany, a private angel investor, presented an innovative exit roadmap for angel investors and ideas for leveraging the efficiency of innovation teams and increasing the impact of R&D departments – both of which would empower economies worldwide. World Business Angels Investment Forum Annual Meeting 2017

A special WBAF masterclass on FinTech was hosted by Paolo Sironi of IBM Watson Financial Services, and a global thought leader on FinTech Paolo Sironi of IBM Watson Financial Services and a global thought leader on FinTech hosted a special master class at the World Business Angels Investment Forum on 12 February at the Swissotel The Bosphorus in Istanbul. Financial Services are facing a perfect storm: margins are squeezed due to zero to negative interest rates in Europe, Japan and the US; reputational damage in the aftermath of the global financial crisis; increasing capital charges; skyrocketing compliance costs; generational shifts towards mobile oriented Millennials; and progressive disintermediation by technology-enabled start-ups. FinTech companies have grabbed the opportunity globally to create compelling propositions that can ultimately replace or revolutionize the operating models of incumbent institutions. Yet innovation is not an easy journey. Proactive financial centres and forward-looking regulators across the globe have started to flex their muscles in the

attempt to gain a competitive international advantage by promoting sound transformation of the banking, asset management and insurance industries. The FinServ marketplace has never been so competitive, creating threats for incumbents and opportunities for innovators. This master class helped identify key trends globally and the strengths and weaknesses of the new technology that is shaping the FinTech revolution. Paolo Sironi is the recognised author of the book Portfolio Management and Financial Innovation. In his current role as FinTech thought leader and spokesperson for IBM Investment and Risk Analytics, he links strategic innovation in finance and technology, demonstrating international expertise in wealth and asset management, risk management, trading and digital transformation.

Most of the early-stage equity markets today are in G20 countries The 50 billion dollar market for angel investment promises a 150 billion dollar exit in the next 5 to 7 years. As you know, most of the early-stage equity markets today are in G20 countries. So, cooperation with G20 administrations is very important if angels are going to meet the challenge. WBAF is happy to announce that WBAF is co-operating with the Germany team this year. The aim is to raise awareness about the needs of angel investors. One of WBAF first events will be an investment forum for young entrepreneurs, and will be organised in cooperation with the G20’s Child & Youth Finance International on the 3rd of May in Berlin.

Two important reports released to the public

Exciting new partnerships signed in Istanbul

Two important reports of the World Business Angels Investment Forum (WBAF) released at WBAF 2017.

The World Business Angel Investment Forum 2017 marks the beginning of a new era for the organisations that are about to sign partnership agreements with the World Business Angels Investment Forum (WBAF):

The WBAF South East Europe Regional Report provides insights into issues and challenges in the region. Contributors to the report include the South East Europe Research Centre, the International Faculty of the University of Sheffield, and HeBAN. Many thanks go to Professor Ketikidis and his team. The WBAF Country Report: Turkey provides insights into issues and challenges in Turkey. Contributors to the report include the Turkish Trade Association for Business Angels (TBAA) and the Treasury Department of the Republic of Turkey.

• the London Stock Exchange Group (LSEG), • the World Association of International Investment Promotion Agencies (WAIPA), • the European Trade Association for Business Angels (EBAN), • the African Trade Association for Business Angels (ABAN), • and the Middle East Trade Association for Business Angels (MBAN),

These MOUs are all aimed at supporting and empowering business angels and early- and post-early stage investment

markets around the world. WBAF will be working together with LSEG, WAIPA, EBAN, ABAN and MBAN in several respects, the main areas of cooperation being the following: • Mutually supporting the development of angel activities in the world by collaborating on relevant projects, fostering cross-border investments among members, supporting training activities for business angels, etc. • Promoting each other’s initiatives and the annual WBAF event.

The World Business Angels Investment Forum is pleased to expand its network of collaborators and is looking forward to working together with the World Business Angels Forum to achieve shared goals and support the advancement of the early stage eco-system.

Delegates will have an opportunity to attend WBAF Academy courses On the second day of the Forum, 20 February, delegates WILL HAVE an opportunity to attend one of four WBAF Academy courses, all taught by WBAF Academy Faculty Members.

The first course (How to become a business angel) was for potential angel investors, and will be offered by WBAF Academy Faculty Member Harry Tomi Davies, from the UK, Chairman of the African Trade Association for Business Angels (ABAN). The second course (How to set-up a business angel network – BAN) is for business angel network managers, and was delivered by WBAF Academy Faculty Member Peter E.Braun, an EBAN Board member from Switzerland. The third course (How to raise fund from angel investors) is for entrepreneurs, start-

ups, scale-ups and SMEs aiming to raise funds from angel investors. This course will be run by WBAF Academy Faculty Member Modwenna Rees-Mogg, Founding CEO of Pitching4Management and Chair of AngelNews, UK. She is also the author of Dragons or Angels, an internationally known book about the TV show Dragons’ Den. The fourth course (How to mentor entrepreneurs efficiently), for mentors and start-ups, will be led by WBAF Academy Faculty Members from Greece, Adriane Thrash and Argyrios Spyridis, Co-founders of Innovation Farm.

Community Assessment

Building the Framework for Your Business Angel Network

Launching Business Angel Network Operations

Identifying Deals Follow-on and Investing Relationships and Activities

Assessing the potential angel community, Assessing the entrepreneurial pool, Assessing the entrepreneurial infrastructure, Assessing service providers, Assessing follow-on funding, Assessing regulatory environments, Reviewing your assessment

Determination of membership and culture, Setting up the organisational structure, Legal structure options, Investment structure, Funding your business angel network

Recruitment of the BAN manager, Communications with members and potential members, Background / educational needs, Time commitments, Meeting structure, Sponsorship, Collaboration with other angel groups, Promotions / public relations

Deal sourcing, Deal screening, Coaching, Company presentations, Due diligence, Investment terms and negotiations, Liability and risk exposure

Board seats, Access to information, Tracking investments, Mentorship, Role of angels in exits and follow-on financing, Exits, Legal concerns, Measuring success

Who should attend? This is an ideal course for: acceleration and incubation center professionals, technopark professionals, anyone interested in setting up a business angel network, anyone interested in creating a business angel investmentgroup from their own network, anyone interested in becoming a professional business angel networkmanager or executive.

FUND RAISING COURSE FOR ENTREPRENEURS AND SME EXECUTIVES This course HIGHLIGHTS the principles of fundraising and securing smart finance The best finance is a miracle that happens when one is able to combine money, know-how, mentorship and networking. This is perhaps better termed smart finance. In the past, inventions were important for the economic development of societies. In the 21st century, however,it is not invention butinnovation that counts. In those earlier times,entrepreneurial skills were not needed to get aninvention to the marketbecause it was a seller’seconomy, where customerswere ready to buy anythingnew. Times have changed, and the rules of the game have changed. Today’s inventors need more than just a clever idea. They need a complex set of skills to move theirinnovative idea into themarket and to ensure itsucceeds. The current, highlycompetitive economicenvironment means thatscaling up businessesdemands special skills ofentrepreneurs, who are obliged to secure financing as quickly as possible. Yet finance alone

is not sufficient tocreate global successstories. The entrepreneur needs not simply finance, but the best finance.What is ‘the best finance’?The best finance is a miraclethat happens when one is able to combine money, know-how, mentorship and networking. This is perhaps better termed smart finance.This course highlights the principles of fundraising and securing smart finance. Using internationallyrecognised techniques, participants will develop and refine skills that will facilitate accessing smart finance.

Why attend? For anyone who wants to access financing from angel investors, VCs, family offices, banks, accelerators or from co-investment funds, this is an invaluable training session covering the most important aspects of securing funds from investors. It is designed to help entrepreneurs,start-ups and SMEs avoid the pitfalls executives oftenencounter.

Certification Participants of this course will be awarded acertificate of attendance. Time: 2 Days Registration fee: 950 EUR

Who should attend? This is an ideal course for entrepreneurs lookingfor smart finance to start up a business,start-ups looking for smart finance to scale up theirbusiness, SME executives looking for investorsto help scale up their business, technoparkprofessionals and inventors who want to turn theirinventions to innovation.

Day 1: Equity Raising Process

Day 2: Company Valuation & Investment Term Sheets

Day 3: Pitching Techniques to Investors

• Technical terminology every SME • Executive / Startup / Entrepreneur should know • Equity raising process • Top three investor criteria • Company executive summary • Developing a promising business model

• Developing a business plan • Funding requirements • Valuation and terms of investment • One page investment summary sample • Sample term sheet for SMEs and startups

• Principles of elevator pitching • Showing demo • Preparing power point presentations • Body language • Pitching team • Practices

Round Table witth Investors: Investing in the Right Team

Round Table with Investors: What do the investors look in the due-diligence process Sample Investment Forum: Pitching to a group of real investors

WORLD EXCELLENCE AWARDS The annual World Business Angels Investment Forum, through its World Excellence Awards, celebrates high growth and success in the angel and early-stage investment market – recognising the fastest growing brands and acknowledging the founders, angels, crowdfunders and early-stage venture capital investors behind them.

Jury members are (in alphabetical order):

Open to both companies and investors, these awards seek to recognise the year’s most disruptive new market entrants and provide a definitive list of the most exciting ones to watch in the angel and early-stage investment space.

• Mr Inderjit Singh, Co-President of the World Entrepreneurship Forum and former Parliament Member of the Republic of Singapore

146 nominations from 32 countries This year the jury’s job was a very tough one. WBAF received 146 nominations from 32 countries for 20 categories of the World Excellence Awards, but the international jury decided to award 6 finalists in 6 categories.

This year’s jury was chaired by Peter Braun from Switzerland, Board Member of the European Trade Association of Business Angels (EBAN). • Mr Andrew Work, Editor in-chief of the Harbour Times, from Hong Kong

• Mr Michal Ciemenski, Chair of the Polish Business Angels Network, from Poland • Mr Paolo Sironi, Global Thought Leader and Spokesperson for the IBM Watson Financial Services, from Germany

NEW BOARD MEMBERS OF THE WORLD BUSINESS ANGELS INVESTMENT FORUM The World Business Angels Investment Forum (WBAF) is an international organisation that aims to ease access to finance for businesses from start-up to scale-up to exit, with the ultimate goal of generating more jobs and more social justice worldwide. It is committed to collaborating globally to empower world economic development by creating innovative financial instruments for innovators, start-ups, and SMEs. It is developing a global agenda to accomplish this mission with the cooperation of its highly dedicated international board members.

Chairman: Baybars Altuntas, World Business Angels Investment Forum • Abdul Malik Al Jaber, Chair, the Middle East Trade Association for Business Angels & EARLY-STAGE Investment Market Players (MBAN), Dubai • Abdulaziz N. Al-Khalifa, CEO, Qatar Development Bank, Qatar • Charles Sidman, Managing Partner and Member, ECS Capital Partners and Angels, USA • Dr Hashim S. Hussein, CEO, United Nations Industrial Development Organization - Investment & Technology Promotion Office (UNIDO-ITPO), Bahrain • Harry Tomi Davies, Chair, the African Trade Association for Business Angels & EARLY-STAGE Investment Market Players (ABAN), Nigeria • Inderjit Singh, Co-President, the World Entrepreneurship Forum (WEnF), Singapore • Peter Cowley, UK Angel Investor of the Year 2014 & 2015, Chair of Cambridge Angels, UK

HEADLINE SPONSOR OF WBAF 2017: London Stock Exchange Group ELITE is a two year programme for high-growth, ambitious companies designed to provide their CEOs and senior management with access and support from blue chip advisors and investors, as well as a bespoke management course delivered by various business schools across Europe. The London Stock Exchange Group launched ELITE because entrepreneurs often find that that their passion and ideas are enough to launch them a business, but accessing on-going growth finance from institutional investors, private equity funds or venture capital is much harder. ELITE facilitates company access to a full range of funding options, increases company profile and visibility, promotes relationships and opportunities with potential investors, and supports management best practice and entrepreneurship. Enjoy a short interview with the CEO of Elite Programme – London Stock Exchange Group

How many companies have joined the programme? We have welcomed more than 400 companies to the ELITE programme as well as over 150 financial advisers and professional bodies. In addition, the programme now also boasts more than 100 institutional investors including private equity firms as we all as specialist debt investors. The 400 companies come from 23 European countries, the programme having been rolled out across Europe in 2015. The companies have a combined revenue of more than EUR 33bn,come from 33 sectors and employ more than 140,000 employees. This is now a very serious and impressive pan-European programme.

Why did LSEG launch this programme across Europe? High growth SMEs are the major source of new, high quality jobs. For the EU economy to grow we need to ensure these types of companies are nurtured and supported as fully as possible. We want to create a community for Europe’s most ambitious high growth businesses. We have brought together over advisors and investors, including leading accountancy and legal firms; business angels, VCs and private equity houses; institutional investors; PR firms; banks; brokers, as well as the major trade and investment bodies.

How do you select the participants? Do they have to pay to be part of ELITE? We look for high quality, highly ambitious businesses. This can include an established successful family run business as well as a high growth, high tech next generation company. All applicants are selected following detailed discussions with the ELITE team. There is a financial commitment from the companies participating to cover the cost of running the programme - €10,000 per year.

How have companies performed since joining ELITE? The results have been truly impressive: • 45 Companies have completed a deal with a Private Equity firm • 15 Companies publicly announced an intention to IPO • 21 Companies have issued bonds, raising EUR 410m • 120 M&A / JV deals completed by ELITE comapnies

WBAF 2018 19 - 20 February 2018 Istanbul

JOIN OUR GLOBAL EFFORTS AT WBAF 2018 TOO We encourage you to join us in our efforts to harness the force of the world’s rapidly growing early-stage investment market. Join our global efforts to ease access to smart finance to create more jobs and more social justice worldwide. Your efforts to convert the world economy to a smart economy in cooperation with the World Business Angels Investment Forum will be highly valued.

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