Australian Angels go worldwide

The Australian Association of Angel Investors (AAAI) has become a foundation member of the World Business Angels Association (WBAA), alongside the national angel associations of USA, China, the UK, India, Spain, Chile, Italy, France and the United Arab Emirates.
The formation of the WBAA is the culmination of collaboration over the last few years among the leaders of federations of angel groups from around the world, who are responding to signfiicant international activity to address the challenge of the funding gap for early-stage businesses.
AAAI chairman, John Mactaggart, said, "WBAA, as a platform for exchange of information and development of the angel investor market around the world, will provide an entry point for investors and entrepreneurs looking for angel groups worldwide. The WBAA will educate and inform policy-makers and market intermediaries about angel investing."
Mactaggart said the AAAI believes that the WBAA is a great response to the current international financial crisis.
"In Australia, as elsewhere, entrpreneurial buinesses and innovation are seen as critical contributors to economic recovery and international competitiveness. These vital contributors are in danger of failure due to the challenges in accessing early-stage finance. As with venture capital in the 20th century, in the 21st century it is important to raise the awareness of the angel capital asset class, it is important for governments to invest in this driver of recovery and it is important to recruit new angel investors to the market at a global level," Mactaggart said.
Some of the key objectives of the new association are to promote the professionalisation of the angel market through the fostering of new groups and associations and coordinating research produced on the angel market worldwide.