OREANDA-NEWS. November 12, 2013. The Estonian Ministry of Economic Affairs and Communications is developing in cooperation with business angels an investment scheme of more than 10 million euros that might be launched already next year.

"The state is planning the creation of an investment scheme and it has been in principle decided that this has to be done next year, the question is in the design and precise details of the scheme," general manager of the Estonian Business Angels Network (EstBAN) Signe Viimsalu told BNS.
In her words, it makes no difference to business angels what form the system takes, they just want state leverage for their investments so as to activate business angels. The indicative volume of investment could exceed 10 million euros and the scheme could go into operation already next year, she said.

The first meeting between the ministry and EstBAN on Tuesday was attended by the president of the European Business Angels Network (EBAN), Paulo Andrez. Viimsalu said Andrez was involved as an external expert since he has participated in designing similar schemes elsewhere in Europe and knows what works and what does not. "And of course EBAN supports us in every possible way and will put its shoulder to the wheel," she said.