Local angel investor group, the Australian Association of Angel Investors (AAAI) has teamed with the national angel associations of USA, China, UK and others as foundation members of the World Business Angels Association (WBAA). T
he Chairman of AAAI John Mactaggart said that joining the WBAA represents a positive response to the current international financial and economic crisis. “In Australia, as elsewhere, entrepreneurial businesses and innovation are seen as critical contributors to economic recovery and international competitiveness. These vital contributors are in danger of failure due to the challenges in accessing early-stage finance. Angel investors, investing their own funds and time for the benefit of young companies, are one of the few classes of investor still able and willing to support innovation on a national and global scale,” he warned.
The creation of the WBAA has taken over two years to co-ordinate and teh group plan to work as a united front across fiver continents to address the common challenge of the funding gap for early stage businesses. “As with venture capital in the 20th century, in the 21st century it is important to raise the awareness of the Angel Capital asset class, it is important for governments to invest in this driver of recovery and it is important to recruit new angel investors to the market at a global level,” he added.
The main ambition of the WBAA is to foster a favourable environment for the activity of angel investors at the international level. For more information visit the website http://www.aaai.net.au/
