Robert Ługowski, COBIN Angels' Managing Partner, spoke to MIT Sloan Management Review Polska about the gradually developing awareness of angles investment and the opportunities they bring - both for the investors and the founders.
Poland has 5% of European technological talent and yet it attracts only 0.5% of the continent’s venture capital. Early-stage, high-risk investment is still too rare and funding innovations and new technologies often falls in this category.
Frequently, startups receive financing from state institutions or EU funds, while the capital obtained from business angels is relatively small. At the same time, the country has a large group of people with great ideas who create new enterprises but lack money.
Robert commented: „Unfortunately, Polish talents are wasted. With so many skilled programmers, engineers, startup founders, people with ideas and character, we should be a technological leader in the region.”
„Unfortunately, Polish talents are wasted. With so many skilled programmers, engineers, startup founders, people with ideas and character, we should be a technological leader in the region.”
This is where the role of business angels begins. Equipped with experience, business acumen, networks, and funds (not necessarily very large), they can support startups in their development and international expansion. Scaling up a company is a crucial moment requiring the implementation of changes to the business model, product, or service. Thanks to their know-how, an engaged investor can make all the difference in this process.
“In Poland, there are many managers who finished their studies in the 1990s, they hold high positions in corporations, they have accumulated capital, knowledge and experience," explained Robert.
“In many cases, they want to invest, but don’t know how to do it. At COBIN Angels, we help them to do so. We show them what is important, we teach them how to effectively support the development of a start-up company. In this way, both sides can benefit.”
To find out more about the road to becoming an angel investor, read the full interview in Polish HERE.
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