BAKE | Business Angels Knowledge for Entrepreneurs
Agreement No. 2021-1-ES01-KA220-VET-000027990
Erasmus+ KA220-VET – Cooperation partnerships in vocational education and training
March 2022 – July 2024
Fundación Equipo Humano
8 partners | 6 countries | 29 months | 337,106€ budget
BAKE IN A NUTSHELL
“Innovative training for entrepreneurs on how to effectively raise finance and establish successful relationships with business angels”.
TELL ME MORE...
The need to improve people’s entrepreneurial and innovative skills has been highlighted in three of the flagship initiatives of the Europe 2020 strategy for smart, sustainable and inclusive growth: “Innovation Union”, “Youth on the Move” and “An Agenda for new skills and jobs”.
Indeed, one of the objectives of the new European strategy is to make an efficient European venture capital market a reality, facilitating direct access to markets for companies and exploring incentives for private sector funds to facilitate financing for innovative start-ups and SMEs.
BAKE will develop an innovative training programme with a strong work-based learning component, involving adults employed in start-up and growing businesses, focusing on bridging the economic, relational and skills gap between different income groups and groups at risk of exclusion.
Due to entrepreneurs’ lack of knowledge about business angels, relationships between entrepreneurs and investors can be ineffective and frustrating for both parties.
In addition, conflicts can arise during these relationships due to different perceptions of the venture, expectations and contractual agreements. This leads to tensions, misunderstandings and an imbalance of control and power between entrepreneurs and business angels, which affects the performance of the venture, the innovativeness of the company and the trust in the cooperation of the partners.
Given this situation, the European project BAKE will develop a toolkit for both profiles (entrepreneurs and investors) with fair and balanced guidelines, training materials, vocabulary usage and case studies.
This will enable entrepreneurs to participate in cutting-edge and forward-looking training courses, adapted to the needs of the sector they are targeting.
General objective: to increase the knowledge of VET students, entrepreneurs, start-ups and the training sector about funding schemes to ensure the acquisition of knowledge and skills.
- To broaden the knowledge of students, trainees, entrepreneurs, start-ups and future business ideas about the terms used in investment plans, in order to equalise the language between entrepreneurs and investors.
- To enable entrepreneurs to successfully obtain investment from business angels.
- To empower professionals with start-ups by improving language skills and competences in order to develop and refine their business language.
- Reinforce the key transversal competences of entrepreneurs in initial and continuing vocational training.
- Develop materials for inclusion in the training programmes of VET providers.
Increase the capacity and professionalism of students and institutions to work at European/international level when an entrepreneur wants to raise funds abroad.
- Toolkit on fairer financing schemes with business angels.
- Development of an innovative curriculum on funding schemes for entrepreneurs.
- Development of an open source learning management system and integration of training course content.
WHO IS BEHIND IT
EU Project Manager
Jose Enrique Val
EU Project Manager