Business Angel
| Name / Title | Business Angel |
| Case Study Region | Alytus county (LT) |
| Geographical coverage | Alytus county |
| Type | Voluntary group, business, advice service, social and youth organization |
| Main activity / focus | Public organization which aims to improve the business environment in Alytus city and district and also to train a new generation of active business people. Business Angel’s mission is to attract youth to return to the region, to create business and job places and to contribute to regional development.Business Angel consults provides confidential advice to people who have ideas and want to start business, and also seeks to stimulates youth initiatives and entrepreneurship. The organization has a youth group, which learns business experience and knowledge through ‘imitation’ of enterprise and dividing functions within it. The youth group learns understanding about business, leadership, teamwork, planning and project administration skills, gets trainings about business basics. It also learns about the region’s opportunities and constraints, and searches for creative problem solutions. |
| Target beneficiaries / market | Youth and adults interested in business, business start-up and regional development |
| Year established | 2002 |
| Current Funding source(s) | Alytus city and Region municipalities, city banks and different companies (industries and smaller businesses), various project funds |
| Participants | n/a |
| Website | http://www.versloangelas.lt/en/about.php |
| Description | The idea of Business Angel came from Sweden, but gained its own specific form through the implementation in Lithuania. It was decided to establish an institution that would have similar goals and working methods to the Swedish “Jobs and Society” model, which supports entrepreneurship on a local level through offering professional start-up advice to people thinking about starting a business. This includes providing free and confidential advice in the preparation of a business plan and evaluating their business idea realistically. During consultations client is an active partner and the manager of “Business Angel” is only an adviser and information supplier.Business Angel pays special attention to youth as the future potential of the region, stimulating young people to stay/return and contribute to region’s wellbeing creation. It provides an opportunity for young people to know more about business practice. Various companies in Alytus provided money to establish the new Business Angel organization, which would work towards addressing some important local and regional problems inhibiting entrepreneurial development.Projects and networks: PIPE project, project We know the way 2005, Innovation circle, Japan garden, EBAN, Youth Distribution Service Business map.Future PlansCooperationThe “Business Angel” is going to unite two different activities in the future. Public Institution “Business Angel” tries to establish cooperation between newcomer entrepreneurs and school-leavers or students. The youngsters would have an opportunity to get practical knowledge about marketing, gain experience, learn to communicate, organize events and sell all their knowledge as a valuable thing.“Business Map” webpageEveryone who is interested in Alytus city and region business situation will be able to get valuable information in Business Map webpage. For example: what kind of business and where is smart to invest, what kind of specialists Alytus already has a lot and what specialists are needed. Moreover, it would be possible to see your potential competitors or partners in this site easily. Information about all companies in the website could be as extra advertisement for them. The most important feature of this project is that Business Map never stops. The members of Business Angel follow all changes in business environment and update the info in the Business Map website all the time.Network of organizations in Dzukija and Baltic Sea RegionBusiness Angel has a vision to help to establish organizations similar to “Business Angel” in Dzukija and the countries of the Baltic Sea Region. All these organizations would be a network which works for their region economy, politics and culture improvements. In addition, a part of the work would be new fields for new businesses establishment and cooperation with foreign countries.Database of students from Dzukija RegionEvery year during the rafting “We Know the Way” “Business Angel” has to collect information about students who are leaving for universities to bigger cities or countries. The database with information about young specialists can be very attractive for employers in Dzukija. These people can be regarded as potential employees for the future.Project “We Know the Way”Every year a large number of school-leavers leave their homes to study in big cities. Only a small percentage of them think to return to live and work in Dzūkija. The main idea behind We Know the Way project is to show for youth the way forward, in order to find the way back easier, it means motivate young people think why it is worth to come back to the native region. During project discussionsorganizers stimulate youth to generate ideas about region development, invite businessmen and young people to cooperate. The main accent of the project is a 4-day rafting tour on the River Nemunas. School-leavers, entrepreneurs,representatives from different organizations and students from all over Dzukija can participate in this project. People could come to this event not just to lead youth to their future life after school graduation, but also to remember old Lithuanian traditions and to taste Lithuanian food. |
| Contact details |
Vaclovas GoštautasPulko g. 12, LT-62133 AlytusEl.paštas va@bioksas.ltPhone/Fax: +370 315 71011Mobile: +370 699 62175
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