Nabeul: First regional financing network dedicated to impact projects launched

The network of support to impact projects “North Business Angels” was officially launched on Wednesday in Nabeul. It is a network of investors, business leaders, managers, executives and experts driven by the will to support innovative and impact projects, by investing in them personally but also by providing advice, expertise, experience and network that any entrepreneur strongly needs.

This initiative to create Business Angels networks is part of the “Impact Finance” programme, supported by the US Embassy through the Financial Services Volunteer Corps (FSVC). Its objective is to stimulate access to finance for SMEs.

This network aims to be a driving force and an example to follow in terms of solidarity and social responsibility, to break down the barriers to access to finance and thus support the dignity of disadvantaged populations by giving them confidence in the future.

Beyond the financial aspect, the Business Angels (individuals who decide to invest part of their financial assets in innovative companies with high potential), invest in a personal capacity in the projects by contributing their skills and their network. A working relationship of trust is established with the management team, enabling the project to benefit from expert support in the development of the entrepreneurial activity.

The common objective is to encourage the emergence, consolidation and development of local financing structures, particularly in the early stages of the impact enterprise’s life. Training and information sessions for entrepreneurs and future business angels will be organised in the near future.

A memorandum of understanding (MoU) has been signed between Financial Services Volunteer Corps and “1kub”, the incubator, which will provide assistance in setting up and operating the network.

Financial Services Volunteer Corps (FSVC) is a non-profit, public-private partnership whose mission is to help build the financial systems necessary to support strong market economies in transition and developing countries.

Source: Agence Tunis Afrique Presse