An Assessment of Government Funding of Business Angel Networks in Flanders

The paper evaluates whether government intervention through the subsidization of business angel networks (BANs) enhances regional economic growth in Flanders, Belgium. It shows that, firstly, BANs reduce the information and financing problems entrepreneurial companies face. Secondly, that these companies contribute to economic development and growth. Thirdly, that there are positive indicators of future potential, such as an upward evolution in value creation and the ability to raise follow-on financing. Finally, the programme has many positive indirect effects. This leads to a tentative conclusion that public BAN support is warranted. However, to make this conclusion more robust requires a longer-term evaluation