Business Angels Norway
What is a business angel?
A business angel invests time, money and other resources in somebody else’s company or project. This typically means somebody with experience, contacts and (limited) funds helping an early-stage company or project get off the ground.
A business angel is not one who only invests cash into a project. But a business angel will always be investing some cash, normally when the relationship is formalized. A business angel has “skin in the game”.
A business angel is normally not holding formal roles in the company, though one may be on the board if this is seen as beneficial by the founders. A business angel is not a founder, but may (over time) get a de-facto role as a co-founder.
You can be a business angel if you invest just a five-digit amount of any currency in a startup, but your experience and contacts will be worth more than your money. (If your money is most important, then you probably are an investor, not a business angel.)
BAN was established in April 2016 as the Norwegian umbrella organization for business angels. Our members are typically regional membership-organizations of business angels. However, BAN may accept organizations that are not regionally defined as members as well. Individual business angels may be accepted as individual members, but this will normally be the case where there is no regional entity available. Each of these regional organizations are often referred to as a BAN, a business angel network.
BAN is the Norwegian chapter of BAN Nordic, the Nordic-Baltic business angel association. We also have different types of relations with other BANs worldwide.
BAN is now using GUST as our primary communication tool in the investment process.
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