1 January, 2022
2,550 EUR + optional 3,000 EUR
Minimum WBAF Credits to be invested: 750 Credits
WBAF’s international co-investment platform for investors, start-ups, high-growth businesses and scale-ups which are aiming to globalise by raising funds from qualified investors.
Profile of entrepreneurs: Typical profile of those who pitch on the GFRS are founders of start-up ventures, entrepreneurs, SME founders and owners, board members, non-executive board members Investors, start-ups, high-growth businesses and scale-ups, which are aiming to globalise by raising funds from qualified investors.
Programme duration: 15 Days
Price : 2,550 EUR + optional 3,000 EUR
Minimum WBAF Credits to be invested: 750 Credits
Minimum WBAF Credits to be invested: 1,500 Credits to secure pitch on the stage without passing from the pipeline of the scoring team.
Please note that programme fees are for one start-up team with two founders, not per-person. The third member of the team should pay 75% of the programme, the fourth member of the team should pay 50% of the programme. However, each team member should have an EIR ID Number. One-to-One Session means it is a session for the start-up team in one group.
The mission is to showcase the world’s top start-ups and scale-ups, which, typically, are funded companies in the process of raising €100K – €10M, with to expand globally. WSEP uses a four-step process to identify the best candidates, starting with intense press coverage and marketing to announce the start of the admission process.
Step 0:Entrepreneur should get an EIR ID Number Please note that only entrepreneurs with and EIR ID Number can move into the selection process.
Step 1: An online application via wbaforum.org or wipa.agency
Step 2: Jurors score applications online on the platform
Step 3: Accepted start-ups pitch online on the Global Fundraising Stage
Step 4: Accepted start-ups showcase their businesses online exhibition booths
Step 5: The Investment Committee of the WBAF Angel Investment Fund announces start-ups for next steps and official pre due-diligence
Step 6: WBAF Angel Investment Executive Investment Committee conducts pre - due diligence. Start-up proposes a local co-investor(s).
Step 7: The WBAF Angel Investment Fund conducts a due-diligence on proposed co-investor(s) by start-up.
Step 9: The Executive Investment Committee announces the start-ups who will be accepted for discussing term sheet and proposal of the WBAF Angel Investment Fund.
Step 10: The lead investor negotiates with the start-up on behalf of the WBAF Angel Investment Fund according to the investment term sheet provided by the Investment Committee.
Step 11: The term sheet is signed by the WBAF Angel Investment Fund and the start-up venture.
The basic evaluation criteria to be used by the Selection Committee include:
[Current] industries of particular interest to investors of the Global Fundraising Stage are:
After the Executive Investment Committee of the WBAF Angel Investment Fund announces the list of successful start-ups for next steps and official pre due-diligence, the WBAF Angel Investment Executive Investment Committee will conduct pre - due diligence. While the pre-due-diligence process is underway, the start-up will propose a local co-investor(s). After the start-up introduces the co-investor, the WBAF Angel Investment Fund will conduct a due-diligence exercise on that proposed co-investor.
This exercise will include WBAF producing:
Angel investors and the WBAF Angel Investment Fund are broadly looking at the following factors in the businesses in which they invest:
If there is a decision [by WBAF Angel Investment Fund] to invest after the Pre-due diligence Report on the business and the Due-diligence Report on the proposed co-investor, the Founder will be apprised of the next steps in the process, called the due diligence phase.
The founder will be given due diligence checklist to complete and certain key documents will be requested.
All due diligence will be conducted by the Executive Investment Committee of the Fund and the Due Diligence Committee of the Fund, who will meet with the Founder(s) as regularly as necessary to answer questions, not answered in the completed due diligence checklist. They will also discuss the investment terms and the proposed valuation of the business.
If the Executive Investment Committee of the Fund [and] Due Diligence Committee of the Fund [are] satisfied that the business is investment ready, the Executive Investment Committee will then recommend the issue of a Term Sheet to the entrepreneur, setting out the terms and conditions of the offer. The Founder typically has 2 weeks to sign and return the Term Sheet, which also indicates the projected time for completion of the deal.
Once the Term Sheet is signed, the due diligence continues and legal documentation, including draft Subscription and Shareholders’ Agreements are shared with the Founders. Simultaneously, a Capital Call is issued to WBAF Angel Investment Fund investors, to deposit the investment funds in an escrow account.
The deal is completed when:
WIPA typically issues a press release, or hosts an event to officially announce its investment in selected ventures. To satisfy a key element of the Shareholders’ Agreement, at least one WBAF Angel Investment Fund investors are named to the Board of Directors.The new board and the founders will also agree with WBAF Angel Investment who should be appointed as the Independent Chairperson of the Board. Founders are required to participate in post-investment training and coaching, which WIPA will provide. WBAF Angel Investment Fund may assign an investor director who monitors the company but does not sit on the board.
Procedures to Monitor Progress During Programme Participation
The lobal Start-up Investment Promotion Agency (WIPA) has well-defined criteria for entrepreneurs graduating from the Start-up Exchange Programmes. An entrepreneur, start-up venture or SME would have been deemed to have graduated if he/she has:
Additionally, participants of the Smart Money and Smart Capital Programmes need to have
Pre-Incubation and Acceleration
An entrepreneur or start-up venture will have an early exit from the programme if one or more of the following occurs
Procedures to Monitor Progress After Programme Participation
In order to gauge WIPA’s effectiveness over time, it will be important to continue to gather data on the performance of graduated entrepreneurs and companies to assess the longer-term impacts of the platform’s activities in terms of graduates’ revenue and profit performance, new job creation, tax revenues earned by the government as well as multiplier effects. WIPA will also gauge other indirect effects, such as possible opportunities for graduated Founders to provide peer mentoring support to EIRs, and contribute as guest speakers in the educational programme, meetups and other events.
Founders Alumni Network: The WIPA Alumni Network is a network of graduates or, more broadly, of former participants of the Startup-Exchange Prof-grammes (alumni). The Network often organizes social events, publishes newsletters or magazines, and raises funds for the start-ups of the WIPA. It provides a variety of benefits and services that help alumni maintain connections to the WIPA and fellow graduates. At the WIPA, all graduates of the programmes automatically become members of the WIPA Alumni Network and will be entitled to enjoy its privileges. One of the main purposes of the alumni network is to support a network of programme graduates who will, in turn, help raise the profile of the Agency. It aims to bring together like-minded individuals.
Homecoming: We hope to make homecoming an annual tradition at the WIPA. Graduates, participants, global partners, lecturers, entrepreneurs, mentors, coaches, advisors and angel investors will come together in late September or early October to welcome back former graduates of the WIPA Start-up Exchange Programmes. It will be built around a central event, such as a roundtable, workshop, open forum or study trip for participants and alumni.
Fund Investor: The WBAF Angel Investment Fund is designed to capitalise on the worldwide growth in entrepreneurial activity and venture financing for start-ups and scale-ups and to benefit from WBAF’s extensive network of global investors, including angel investors, private equity funds, co-investment platforms, wealth management institutions, family offices, VCs and acceleration centres. Members of the WIPA Alumni Network can join the Fund as an angel investor if they hold QBAC+ ID Card.
Ventures that are accepted into the WIPA Start-up Exchange Programmes (WSEP) will enjoy improved success rates as they are nurtured through the early stages of enterprise development. Specific benefits include a better appreciation on the part of Founders of how prepared the business needs to be to attract investment capital. The programmes will help entrepreneurs understand what funding is appropriate for their business, considering the specific personal and business ambitions and the current stage of development and growth of the business. They will also better appreciate how developed the business needs to be in relation to customer engagement and market validation.
From the perspective of entrepreneurs / founders of early and growth-stage companies, there are several reasons why they would want to participate in an incubation, acceleration or, co-working programme at the WIPA.
For WBAF’s global partners in particular, WIPA will provide enhanced deal flow as well as other potential benefits such as:
Entrepreneurs-in-Residence accepted for the WIPA Start-up Exchange Programmes are awarded a professional certificate featuring their proficiency level on global entrepreneurship and a personal WIPA Identity Card.