27.03.2017
Erste Vision Capital: Fund of Excellence Invests in Dedicated Founders
Effective immediately, Erste Group provides financial assistance to persons who want to start their own business through a new form of investment. Erste Vision Capital invests in founders of start-ups with promising business models, and makes up to 60,000 euro per person available. In return the fund receives a share in the company's future earnings. Important criteria for the investment decision: Personality and professional expertise. Collateral or one's financial situation do not play a role.
Austria: Start-Up Nation
According to a study by the Austrian Chamber of Commerce (WKO), Austrians are quite keen on founding start-up companies: in 2016 almost 40,000 new businesses were established, and the trend is accelerating. “Start-up hype continues in Austria. We still see a lot of potential and want to support people who have a dream, but lack financial means”, explains Peter Bosek, member of the management board. Erste Vision Capital invests in precisely these types of personalities and enables them to fully focus on their business projects by providing them with basic funding. “We want to offer an alternative to traditional start-up subsidies or loans and have recognized that many people are unable to offer any collateral, except for their dedication”, says Bosek.
Not a Loan, but an Investment
Erste Vision Capital is a product of the Fund of Excellence, in which Erste Group is a 49% shareholder. Günter Benischek and Natalia Corrales-Diez are its founders and directors. The Fund of Excellence plans to invest in up to 100 Austrian visionary entrepreneurs annually.
Further information under www.erstevisioncapital.com/
