 InovCapital has €56 million available
for new projects
InovCapital, a venture capital society held mainly by the Department of Finance and Innovation, has €56 million available to invest in new projects, revealed Luís Filipe Costa, CEO for InovCapital, at the 7 th European Business Angels Network (EBAN) Congress.
Having inherited the 67 companies participated by PME Investimentos, worth €61 million, and the 43 companies participated by PME Capital, worth €29 million, InovCapital currently holds equities in 101 companies, having already invested a total of €90 million.
According to Luís Filipe Costa, “business angels and venture capitalists are two sides of the same coin, complementing the capital market with solutions for entrepreneurs". InovCapital’s CEO believes that both have a lot to offer the market. “Business angels allow a greater proximity between the investor and the project supported, having to often make informal decisions due to the speed of business. These angels also help entrepreneurs to structure their business plan and bring in their experience, skills and a network of personal contacts." Luís Filipe Costa stated that venture capitalists also offer their experience and skills, but "they also provide access to a network of institutional contacts, share the risk and financially support the growth of the business".
 Following the actions foreseen in the Technological Plan, the Finance Department’s venture capital company is directing its investments at projects with a high degree of innovation. “ Portugal has highly talented people and, fortunately, universities have promoted research and development (R&D). We will support innovative companies introducing new products that have not been tested yet", declared Luís Filipe Costa. Jaime Andrez, chairman of IAPMEI, also highlighted the need to encourage the relationship between universities and the institutions that can give financial support to projects originating in those universities. “In that respect, business angels are strategic partners", states Jaime Andrez, according to whom IAPMEI launched13 partnership networks in the last year, in order to ensure financing opportunities, the protection of intellectual property, improvement of business plans and coaching. According to Jaime Andrez, “IAPMEI encourages entrepreneurs to search for the help of specialists in setting up their business plans, because we want to avoid the wasting of new ideas".
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European Business Angels Week 
