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European Fund and Asset Management Association (EFAMA)

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A study for the German Ministry of Economics and Technology (Fryges et al, 2007) analysed high- tech start-ups and Business Angels. The results, presented here, are based on analysed companies that have been founded between 2001 and 2005 (formation cohort/group 2001-2005). According to the study, the most important source of financing for the young companies of this formation cohort is cash-flow and owner’s equity. Among newly created high-tech companies of the cohort 2001-2005 in Germany approx. 5% received Business Angel financing (approx 3,700 companies). Companies with Business Angel support received (on average) financing from about 2 BAs. ...
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European Fund and Asset Management Association (EFAMA)

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