Business Angel Seed Fund

BAS is actively looking for investment opportunities in spin-off companies aimed at commercializing scientific discoveries, as well as in ICT companies and ideas. We are pleased with the government's repeatedly declared willingness to support this type of activity, as well as the large scale of innovation funding and the popularization of innovation from public sources. Unfortunately, without removing existing barriers, the commercialization of scientific research will be difficult. The reason for this is Article 37 of the Public Finance Act, which states that, for example, units of the Polish Academy of Sciences are not allowed to acquire or take up shares in private companies. Thus, the commercialization of technology through the creation of a special purpose vehicle (spin-off), to which the institute would contribute technology/patents and the investor capital, is prohibited in Poland.

BAS activities to date:

• 200 business plans accepted, more than 50 have undergone a detailed analysis including meetings with entrepreneurs.
• Four completed investments:

1. Screen Network S.A.
2. Polymem ltd. Sp. z o.o.
3. Hub 3.0 Ltd. – a new pro-consumer e-commerce service; expected debut: February 2008
4. Centrum Podróży Ltd. – a new idea for the sale of tourist services
5.  

BAS has acquired a minority share in these companies. Our goal is to support the growth of the portfolio companies' value in order to resell them in the future at a profit. The most attractive valuation at the time of exit can be achieved by selling the shares to a strategic investor or through the stock exchange. The goals of the fund and the company's founders are the same in this respect - by linking up with a strategic (industry) investor at an early stage of development, the entrepreneur effectively closes the possibility of selling shares to other entities and obtaining a high market price in the future.

BAS supports its portfolio companies in the following areas:

• strategy review
• establishing relationships with key business partners (customers, suppliers)
• recruiting suitable staff
• financial management
• preparing for a profitable exit from the investment
• access to capital