Var Business Angels - EU|BIC TVT
Var Business Angels: an initiative by EU|BIC TVT Innovation
Var Business Angels was created in Toulon at the end of the first quarter of 2008. TVT Innovation’s partners felt the need to develop the field of financial engineering, the activities of this incubator which has been providing support for VSEs/SMEs in Var for more than thirty years.
Traditionally, due to the professional history of its founders, VBA (Var Business Angels) has specialized in high value-added Start-ups whose support TVT has mastered.
In addition, VBA has built up an important network of financial partners (banks and regional capital financing organisations) which have always enabled it to address ambitious deals that it couldn’t have done without this ecosystem.
As a TVT Innovation’s department at the administrative level, VBA has is unique in the South Region of France – allowing it to finalize the actors of Innovation dear to TVT by “a last floor” of local capital financing, accessible to its accelerated start-ups.
The fact that Var Business Angles is directly linked to TVT Innovation allows the club to very early identify the future jewels of our territory. We keep a close eye on their development and trust TVT to support them.
Once they are sufficiently structured, we intervene to support them financially and share our experience and network with them.” – highlighted a VAR investor.
To be selected and presented in plenary, companies must have an innovative product or service commercialized in their market and must show strong growth potential. The Business Angels allow the company to scale up. The funds raised are most of the time directed towards human resources, commercial and communication actions.
Although and of course Business Angels study the main aspects such as the business model, intellectual property and market access, they invest in the managers more than in the projects themselves.
An example of success case is C2Care, a company supported by TVT that develops a VR solution for psychologists to treat patients suffering from phobias and addictions. After passing through TVT’s Accelerator program, C2Care was able to structure efficiently and present interesting indicators to start contacting investors. Var Business Angels was among the first clubs to be approached because of its proximity to TVT Innovation.
The company has now completed two rounds of financing with VBA at its side and continues to grow.