futureSAX meets Business Angels Network Germany
On January 22, 2019, the BAND (Business Angels Netzwerk Deutschland e.V.) and the BVDS (Bundesverband Deutscher Startups e.V.), in cooperation with futureSAX, invited to the base camp Coworking in Leipzig to discuss the financing form of convertible loans for business angels and founders.
After a brief opening by the three cooperation partners of the event, Dr. Günther, chairman of the BAND, David Hanf, founder and board member of the BVDS and Marina Heimann of futureSAX, the futureSAX project managers Alexander Seedorff and Alexander Kühne presented the ecosystem around innovative founders and entrepreneurs in Saxony. The founders got to know in the public among other things the various futureSAX start-up partner network. This was followed by Dr. Roland Kirchhof, Chairman of Business Angels Netzwerk Deutschland e.V., who gave a comprehensive lecture on the possibility of supporting financing by Business Angels with the help of the INVEST subsidy. Further information on the INVEST grant can be found on the BMWi website.
After an intensive networking part during the coffee break, Dr. Ute Günther, Chairman of Business Angels Netzwerk Deutschland e.V., explained the working methods of the German Standards Setting Institute (GESSI) and its important basic work for the start-up ecosystem in Germany. One result of the work so far is, for example, the standard contract for convertible loans. This was then presented by Till-Manuel Saur. Saur, as attorney at law at Osborne Clarke, was himself significantly involved in the document. The presented documents of the GESSI are available at https://standardsinstitute.de/standarddokumente/ after login.
Concluding, the financing instrument "convertible loan" was put to the practical test: various experts discussed their views on this financing forum for founders from the point of view of business angels, venture capital investors or startups.
We thank all participants for the successful event.
futureSAX for Investors:
futureSAX offers investors matching opportunities to suitable investment cases from founders and entrepreneurs with promising concepts. In order to benefit from these offers, we recommend creating a profile in our investor network.
futureSAX for capital-seeking founders:
- Completed futureSAX One Pager (download template here)
- Short description (3-4 sentences) of your company
- Key points to the current status
- Implementation of the technology / the product
- Milestones achieved on the market
- erreichte Meilensteine am Markt
- Financing volume current round + financing already committed
- (optional) Pitch deck (shipping version)