First Saxon Business Angel Day

At the 1st Saxon Business Angel Day in Dresden, the Mittelständische Beteiligungsgesellschaft Sachsen (MBG) announced a new investment program.

Dresden - On November 2, 2023, experienced and new investors met for the first time at the Parkhotel Dresden for the Saxon Business Angel Day. Mittelständische Beteiligungsgesellschaft Sachsen (MBG) used this event as an opportunity to announce its new investment program.

Saxony's State Secretary for Economic Affairs and Labor, Thomas Kralinski, Thomas Schmidt, Advisory Board Member of Business Angel Deutschland e.V. (BAND), and Marina Heimann, Managing Director of futureSAX GmbH, spoke at the opening event. Heimann announced the new futureSAX Business Angel Growth Program (BAG), which is designed to support prospective business angels.

Thomas Schmidt emphasized the positive development of Saxony's business angel culture in recent years, while State Secretary Thomas Kralinski highlighted the importance of the 1st Saxon Business Angel Day for raising awareness of the start-up scene and investment opportunities in Saxony among potential investors. Nine Saxon start-ups presented their ideas in pitch sessions and had the opportunity to meet business angels in person. Over 80 investors and entrepreneurs took part in discussions about company investments and funding opportunities.

Funding programs for business angels in Saxony

In May 2023, the "Business Angel Bonus" funding guideline was launched by the Free State of Saxony to strengthen the investment culture. It aims to support start-ups in digital and green business fields in raising private capital and venture capital. Grants of 50,000 to 400,000 euros per project can be applied for, provided that a business angel participates and the funding can double this participation. MBG Saxony announced its new investment program at the Saxon Business Angel Day, which aims to channel privately invested capital into early-stage start-ups in Saxony and promote the start-up culture in the state.

There are currently 87 active business angels in the futureSAX investor network, which is three times as many as in the previous year. Saxony ranked 7th nationwide in 2022 with 204 business angel investments, with investments being made primarily in the areas of e-commerce and medicine. In addition to the Business Angel Day, a network of regional investor institutions in Saxony was founded on November 2 to support and expand the start-up culture.