The World Business Angels Investment Forum (WBAF) annual meeting will take place from February 19-20, 2018 in Istanbul, Turkey. The theme of the meeting is "Unlocking the Potential for Innovation: Angel Investors Partnering with Family Offices and Wealth Management Institutions". The discussions will explore how these partnerships can foster innovation and provide business value. Over 100 global speakers from 54 countries will discuss developing financial and non-financial instruments to fuel early-stage investment markets.

2. WORLD BUSINESS ANGELS INVESTMENT FORUM: The Annual Meeting 2018
Unlocking the Potential for Innovation: Angel Investors Partnering with Family Offices and Wealth Management Institutions,
19–20 February 2018, Istanbul
Building on the success of the 2017 World Business Angels Investment Forum (WBAF), this year’s forum will focus on the theme ‘Unlocking the Potential for Innovation:
Angel Investors Partnering with Family Offices and Wealth Management Institutions’. The discussions will explore how family offices and wealth management institutions
can foster open innovation and deliver more business value through partnerships with angel investors, start-ups, scale-ups, high-growth businesses and SMEs.
I invite you to join our global effort to ease access to smart finance.
As the Chair of the World Business Angels Investment Forum, I invite you to join us in our global effort to ease access to smart finance, which will help create more jobs and
more social justice worldwide. Your efforts to convert the world economy into a smart economy in cooperation with the World Business Angels Investment Forum are very
important.
By working together across borders, with a common vision, and with these smart dynamics in mind, we are well placed to create positive change in the global economy.
I am sure you will find WBAF 2018 a rewarding experience!
Yours sincerely,
Baybars Altuntas
Chairman, World Business Angels Investment Forum (WBAF)

3. “The attendance by hundreds of investors,
corporate representatives and international
organizations was impressive”
Inderjit Singh, Co President,
World Entrepreneurship Forum wbaforum.org

4. WBAF 2018
Buildingonthesuccessofthe2017WorldBusiness
AngelsInvestmentForum(WBAF),thisyear’sforum
willfocusonthetheme‘UnlockingthePotentialfor
Innovation:AngelInvestorsPartneringwithFamily
Offices and Wealth Management Institutions’.
The discussions will explore how family offices
and wealth management institutions can foster
open innovation and deliver more business value
through partnerships with angel investors, start-
ups,scale-ups,high-growthbusinessesandSMEs.
Familyofficesandwealthmanagementinstitutions
are booming globally. Internationally recognised
reports indicate that there are more than 10,000
single-family offices in operation throughout the
world, at least half of which have been established
in the past 15 years. A family should normally be
worth between $100 million and $500 million
for a single-family office to be financially viable.
Multi-family offices, by contrast, offer affordable
services for ultra-high net worth families with
assets of approximately $50 million. In North
America alone, the next three decades will see
nearly $30 trillion in assets transferred from baby
boomers to their heirs.

5. WBAF 2018
Angel investment too is booming worldwide.
Morethan90%oftheearly-stageinvestments
in Europe come from angel investor capital.
Theangelinvestmentmarketsizeismorethan
€6.7 billion in Europe and more than US$26
billion in the US and Canada. The total size
of the world’s early-stage investment market
is expected to exceed $50 billion by 2020.
The $50 billion market for angel investment
promises a $150 billion exit in the next 5 to 7
years.
SMEs, entrepreneurs and start-ups: OECD
reportsshowthatmorethan96%oftheworld’s
economy is driven by SMEs, entrepreneurs
and start-ups. Many governments have
understoodtheimportanceoftheearly-stage
investmentmarketinthecreationofnewjobs
and social justice in their countries and have
therefore implemented new regulations that
provide tax incentives for angel investors,
corporate ventures and start-ups.
As a global organisation, the World Business
Angels Investment Forum is bringing together
key players of the equity market to discuss the
benefits of and the challenges to the angel
investment community’s achieving successful
growth for their businesses and to discuss what
more can be done to connect the early-stage
market ecosystem.

6. Global Agenda 2018
With the participation of a wide range of participants from
the UK’s best angel investor to Singapore’s super angel, from
UNIDO Executives to the Innovation Ministers, the global
agenda on developing innovative financial and non-financial
instruments to fuel the early and post-early stage investment
markets will be shaped in the panel discussions and fireside
chats of the World Business Angels Investment Forum.
Fireside chats will cover hot topics such as Best Practice:
Corporate Ventures as an Exit Strategy; Focus on the WBAF
Regional Report: Early-Stage Investment Markets - Southeast
Europe; Focus on the African continent: Agenda 2063 – The
Africa We Want, Secrets of the Turkish Carpet.
Panel topics include:
• Global Action Plans for the Future of Corporate Venturing
and Angel Investment Collaboration
• A New Roadmap: From Start-ups to Angel Investors to
Corporate Ventures to Stock Exchanges
• InnovativePoliciesforthePromotionofInnovativeFinancial
Instruments for SMEs and Early-Stage Investment Markets
• The Changing Role of Banks in the Early-Stage Phases of
Capital Markets
• Technoparks 3.0: New Rules of the Game to Accelerate
Investment Readiness for Angel Investors and Corporate
Ventures
• The Strategic Role of Global Corporate Ventures in Building
and Maintaining National Competitiveness
• Global Trends and Expectations for FinTech 2020
• The Impact of Brexit on Early-Stage Investment Markets in
Europe and Other Parts of the World
• G20 Vision for the proliferation of Collaboration Between
Corporate Ventures and Angel Investors
• The Science of Success: Investigating an Innovative
Methodology Charting Possible Steps to Start-up Success
• The Role of the United Nations Global Youth Empowerment
Fund in the World’s Early-Stage Investment Markets
• TheRoleofCorporateVenturesasSourcesofFDIinCreating
Sustainable Cross-Border Investments.

7. Over 100 global speakers from 54 countries and 5 continents
The Forum hosted more than 100 global experts as keynote speakers, panel discussion
speakers, moderators, and fireside chat speakers from over 54 countries and 5
continents. Speakers included government ministers, world-class angel investors, super
angels, chairpersons and presidents of some of the world’s leading NGOs, chairpersons
of leading stock exchanges, technopark CEOs, and world-renowned academicians.
WBAF 2017: 14 Panel discussions with
over 100 global speakers
WBAF shines a spotlight on the importance of corporate ventures
to accelerate the angel investment market.
But WBAF is proposing another path: Instead of wasting time and
energy trying to convert employees to “intrapreneurs”, we’re saying:
why not to bring in entrepreneurs from outside the company
Let us give you an example of what corporate ventures are doing to create innovation:
• they are setting aside a certain amount of their company’s
budget to set up R&D departments, and
• they are creating employee teams that will focus on innovation, and
• by doing this, they are trying to convert their employees
to entrepreneurs who create innovation.
But WBAF is proposing another path: Instead of wasting time and energy trying to
convert employees to “intrapreneurs”, we’re saying: why not to bring in entrepreneurs
from outside the company — entrepreneurs who have already raised angel money.
These entrepreneurs bring with them not only their know-how (including how to
raise angel money), they also bring their network and an ability to mentor. The
result is much better innovation in a shorter period of time because.
Such a new roadmap will open the way for early exits. If international companies
follow this road, it can create further rounds of investment in the country.
We are fortunate to have a wide range of participants at WBAF 2017,
including the UK’s best angel investor, Singapore’s super innovator, UNIDO
Executives, and the Trade and Industries Minister of Kosovo. These colleagues
lad discussions on developing innovative financial and non-financial
instruments to fuel the early and post-early stage investment markets.

8. Key-note speech from
Paul Doany
Paul Doany, CEO of Turk Telecom,
addressed the issue of empowering
the world’s economies through
partnerships between corporate
ventures and angel investors.
Theworldearly-stageinvestmentmarketsneed
innovative approaches to leverage start-up and
SME ecosystems worldwide. Almost all global
corporateshavedepartmentsthatleveragethe
innovation pipeline within the company. This
keynote speech addressed the importance of
global corporates forming partnerships with
angel investors and angel networks and the
impactofsuchpartnershipsthecompetitiveness
of local economies with global markets. In this
keynote speech, Paul Doany, a private angel
investor, presented an innovative exit roadmap
for angel investors and ideas for leveraging the
efficiency of innovation teams and increasing
the impact of R&D departments – both of which
would empower economies worldwide.

9. A special WBAF masterclass on FinTech was hosted
by Paolo Sironi of IBM Watson Financial Services,
and a global thought leader on FinTech
Paolo Sironi of IBM Watson Financial Services and a global thought
leader on FinTech hosted a special master class at the World
Business Angels Investment Forum on 12 February at the Swissotel
The Bosphorus in Istanbul.
Financial Services are facing a perfect storm: margins are squeezed
due to zero to negative interest rates in Europe, Japan and the US;
reputational damage in the aftermath of the global financial crisis;
increasing capital charges; skyrocketing compliance costs; generational
shifts towards mobile oriented Millennials; and progressive
disintermediation by technology-enabled start-ups.
FinTech companies have grabbed the opportunity globally to create
compelling propositions that can ultimately replace or revolutionize
the operating models of incumbent institutions. Yet innovation is not
an easy journey. Proactive financial centres and forward-looking
regulators across the globe have started to flex their muscles in the
attempt to gain a competitive international advantage by
promoting sound transformation of the banking, asset
management and insurance industries.
The FinServ marketplace has never been so competitive, creating
threats for incumbents and opportunities for innovators. This
master class helped identify key trends globally and the
strengths and weaknesses of the new technology that is shaping
the FinTech revolution.
Paolo Sironi is the recognised author of the book Portfolio
Management and Financial Innovation. In his current role as
FinTech thought leader and spokesperson for IBM Investment
and Risk Analytics, he links strategic innovation in finance and
technology, demonstrating international expertise in wealth and
asset management, risk management, trading and digital
transformation.

10. Most of the early-stage equity markets
today are in G20 countries
The 50 billion dollar market for angel
investment promises a 150 billion dollar
exit in the next 5 to 7 years. As you
know, most of the early-stage equity
markets today are in G20 countries. So,
cooperation with G20 administrations
is very important if angels are going to
meet the challenge. WBAF is happy to
announce that WBAF is co-operating
with the Germany team this year.
The aim is to raise awareness about
the needs of angel investors. One of
WBAF first events will be an investment
forum for young entrepreneurs, and
will be organised in cooperation with
the G20’s Child & Youth Finance
International on the 3rd of May in Berlin.
Two important reports released to
the public
Two important reports of the World
Business Angels Investment Forum (WBAF)
released at WBAF 2017.
The WBAF South East Europe Regional
Report provides insights into issues and
challenges in the region. Contributors
to the report include the South
East Europe Research Centre, the
International Faculty of the University of
Sheffield, and HeBAN. Many thanks go
to Professor Ketikidis and his team.
The WBAF Country Report: Turkey provides
insights into issues and challenges
in Turkey. Contributors to the report
include the Turkish Trade Association for
Business Angels (TBAA) and the Treasury
Department of the Republic of Turkey.
Exciting new partnerships signed in
Istanbul
The World Business Angel Investment
Forum 2017 marks the beginning
of a new era for the organisations
that are about to sign partnership
agreements with the World Business
Angels Investment Forum (WBAF):
• the London Stock Exchange Group (LSEG),
• the World Association of International
Investment Promotion Agencies (WAIPA),
• the European Trade Association
for Business Angels (EBAN),
• the African Trade Association
for Business Angels (ABAN),
• and the Middle East Trade Association
for Business Angels (MBAN),
These MOUs are all aimed at supporting
and empowering business angels and
early- and post-early stage investment
markets around the world.
WBAF will be working together with
LSEG, WAIPA, EBAN, ABAN and MBAN
in several respects, the main areas of
cooperation being the following:
• Mutually supporting the development of
angel activities in the world by collaborating
on relevant projects, fostering cross-border
investments among members, supporting
training activities for business angels, etc.
• Promoting each other’s initiatives
and the annual WBAF event.
The World Business Angels Investment
Forum is pleased to expand its network
of collaborators and is looking forward
to working together with the World
Business Angels Forum to achieve shared
goals and support the advancement
of the early stage eco-system.

14. Delegates will have an opportunity to
attend WBAF Academy courses
On the second day of the Forum,
20 FEBRUARY 2018, DELEGATES WILL HAVE
AN OPPORTUNITY to attend one of four
WBAF Academy courses, all taught by
WBAF Academy Faculty Members.
The first course (How to become a business
angel) was for potential angel investors,
and was offered by WBAF Academy
Faculty Member Harry Tomi Davies, from
the UK, Chairman of the African Trade
Association for Business Angels (ABAN).
The second course (How to set-up a
business angel network – BAN) was
for business angel network managers,
and was delivered by WBAF Academy
Faculty Member Peter E.Braun, an EBAN
Board member from Switzerland.
The third course (How to raise fund from
angel investors) was for entrepreneurs,
start-ups, scale-ups and SMEs aiming to
raise funds from angel investors. This
course was run by WBAF Academy Faculty
Member Modwenna Rees-Mogg, Founding
CEO of Pitching4Management and Chair of
AngelNews, UK. She is also the author of
Dragons or Angels, an internationally known
book about the TV show Dragons’ Den.
The fourth course (How to mentor
entrepreneurs efficiently), for mentors
and start-ups, was led by WBAF
Academy Faculty Members from Greece,
Adriane Thrash and Argyrios Spyridis,
Co-founders of Innovation Farm.
Who should attend?
This is an ideal course for: acceleration and incubation center professionals, technopark
professionals, anyone interested in setting up a business angel network, anyone interested
in creating a business angel investmentgroup from their own network, anyone interested in
becoming a professional business angel networkmanager or executive.
Community
Assessment
Assessing the
potential angel
community,
Assessing the
entrepreneurial
pool, Assessing
the entrepreneurial
infrastructure,
Assessing service
providers,
Assessing follow-on
funding, Assessing
regulatory
environments,
Reviewing your
assessment
Building the
Framework for
Your Business
Angel Network
Determination of
membership
and culture,
Setting up the
organisational
structure, Legal
structure
options, Investment
structure,
Funding your
business angel
network
Launching
Business
Angel Network
Operations
Recruitment of the
BAN manager,
Communications
with members
and potential
members,
Background /
educational needs,
Time commitments,
Meeting structure,
Sponsorship,
Collaboration
with other angel
groups, Promotions
/ public relations
Identifying Deals
and Investing
Deal sourcing,
Deal screening,
Coaching, Company
presentations,
Due diligence,
Investment
terms and
negotiations,
Liability and
risk exposure
Follow-on
Relationships
and
Activities
Board seats,
Access to
information,
Tracking
investments,
Mentorship, Role
of angels in exits
and follow-on
financing, Exits,
Legal concerns,
Measuring success

15. FUND RAISING COURSE FOR
ENTREPRENEURS AND SME EXECUTIVES
This course HIGHLIGHTS the principles of
fundraising and securing smart finance
The best finance is a miracle that
happens when one is able to combine
money, know-how, mentorship
and networking. This is perhaps
better termed smart finance.
In the past, inventions were important for the
economic development of societies. In the 21st
century, however,it is not invention butinnovation
that counts. In those earlier times,entrepreneurial
skills were not needed to get aninvention to the
marketbecause it was a seller’seconomy, where
customerswere ready to buy anythingnew.
Times have changed, and the rules of the game
have changed. Today’s inventors need more
than just a clever idea. They need a complex
set of skills to move theirinnovative idea into
themarket and to ensure itsucceeds. The current,
highlycompetitive economicenvironment means
thatscaling up businessesdemands special skills
ofentrepreneurs, who are obliged to secure
financing as quickly as possible. Yet finance alone
is not sufficient tocreate global successstories.
The entrepreneur needs not simply finance, but
the best finance.What is ‘the best finance’?The
best finance is a miraclethat happens when
one is able to combine money, know-how,
mentorship and networking. This is perhaps
better termed smart finance.This course highlights
the principles of fundraising and securing
smart finance. Using internationallyrecognised
techniques, participants will develop and refine
skills that will facilitate accessing smart finance.
Why attend?
For anyone who wants to access financing
from angel investors, VCs, family offices,
banks, accelerators or from co-investment
funds, this is an invaluable training session
covering the most important aspects of
securing funds from investors. It is designed
to help entrepreneurs,start-ups and SMEs
avoid the pitfalls executives oftenencounter.
Who should attend?
This is an ideal course for entrepreneurs lookingfor smart finance to start up a business,start-ups looking
for smart finance to scale up theirbusiness, SME executives looking for investorsto help scale up their
business, technoparkprofessionals and inventors who want to turn theirinventions to innovation.
Day 1: Equity Raising
Process
• Technical terminology
every SME
• Executive / Startup /
Entrepreneur should know
• Equity raising process
• Top three investor criteria
• Company executive
summary
• Developing a promising
business model
Day 2: Company Valuation &
Investment Term Sheets
• Developing a business plan
• Funding requirements
• Valuation and terms
of investment
• One page investment
summary sample
• Sample term sheet for
SMEs and startups
Round Table witth Investors:
Investing in the Right Team
Day 3: Pitching
Techniques to Investors
• Principles of
elevator pitching
• Showing demo
• Preparing power point
presentations
• Body language
• Pitching team
• Practices
Round Table with Investors: What
do the investors look in the
due-diligence process Sample
Investment Forum: Pitching to a group
of real investors
Certification
Participants of this course will be awarded acertificate of attendance.
Time: 3 Days
Registration fee: 1250 EUR

20. WORLD EXCELLENCE AWARDS
The annual World Business Angels Investment Forum, through its
World Excellence Awards, celebrates high growth and success in
the angel and early-stage investment market – recognising the
fastest growing brands and acknowledging the founders, angels,
crowdfunders and early-stage venture capital investors behind them.
Open to both companies and investors, these awards seek
to recognise the year’s most disruptive new market entrants
and provide a definitive list of the most exciting ones to
watch in the angel and early-stage investment space.
146 nominations from 32 countries
This year the jury’s job was a very tough one. WBAF
received 146 nominations from 32 countries for 20
categories of the World Excellence Awards, but
the international jury decided to award 6 finalists in 6 categories.
Jury members are (in alphabetical order):
This year’s jury was chaired by Peter Braun from Switzerland, Board
Member of the European Trade Association of Business Angels (EBAN).
• Mr Andrew Work, Editor in-chief of the
Harbour Times, from Hong Kong
• Mr Inderjit Singh, Co-President of the World Entrepreneurship Forum
and former Parliament Member of the Republic of Singapore
• Mr Michal Ciemenski, Chair of the Polish
Business Angels Network, from Poland
• Mr Paolo Sironi, Global Thought Leader and Spokesperson
for the IBM Watson Financial Services, from Germany

23. ANGEL INVESTORS & CORPORATE
VENTURES & WEALTH MANAGEMENT
INSTITUTIONS & FAMILY OFFICES
Building on the success of the 2017 World Business
Angels Investment Forum (WBAF), this year’s forum
will focus on the theme ‘Unlocking the Potential for
Innovation: Angel Investors Partnering with Family
Offices and Wealth Management Institutions’. The
discussions will explore how family offices and wealth
management institutions can foster open innovation
and deliver more business value through partnerships
withangelinvestors,start-ups,scale-ups,high-growth
businesses and SMEs.
Family offices and wealth management institutions are
booming globally. Internationally recognised reports
indicate that there are more than 10,000 single-family
offices in operation throughout the world, at least half
of which have been established in the past 15 years.
A family should normally be worth between $100
million and $500 million for a single-family office to be
financiallyviable.Multi-familyoffices,bycontrast,offer
affordable services for ultra-high net worth families
with assets of approximately $50 million. In North
America alone, the next three decades will see nearly
$30 trillion in assets transferred from baby boomers
to their heirs.

26. NEW BOARD MEMBERS
OF THE WORLD BUSINESS
ANGELS INVESTMENT FORUM
The World Business Angels Investment Forum (WBAF) is
an international organisation that aims to ease access to
finance for businesses from start-up to scale-up to exit,
with the ultimate goal of generating more jobs and more
social justice worldwide. It is committed to collaborating
globally to empower world economic development by
creating innovative financial instruments for innovators,
start-ups, and SMEs.
It is developing a global agenda to accomplish this mission
with the cooperation of its highly dedicated international
board members.
Chairman: Baybars Altuntas, World Business
Angels Investment Forum
• Abdul Malik Al Jaber, Chair, the Middle East Trade
Association for Business Angels & EARLY-STAGE
Investment Market Players (MBAN), Dubai
• Abdulaziz N. Al-Khalifa, CEO, Qatar Development Bank,
Qatar
• Charles Sidman, Managing Partner and Member, ECS
Capital Partners and Angels, USA
• Dr Hashim S. Hussein, CEO, United Nations Industrial
Development Organization - Investment & Technology
Promotion Office (UNIDO-ITPO), Bahrain
• Harry Tomi Davies, Chair, the African Trade Association
for Business Angels & EARLY-STAGE Investment Market
Players (ABAN), Nigeria
• Inderjit Singh, Co-President, the World Entrepreneurship
Forum (WEnF), Singapore
• Peter Cowley, UK Angel Investor of the Year 2014 &
2015, Chair of Cambridge Angels, UK

28. HEADLINE SPONSOR OF WBAF 2017:
London Stock Exchange Group
ELITE is a two year programme for high-growth, ambitious companies designed to provide
their CEOs and senior management with access and support from blue chip advisors and
investors, as well as a bespoke management course delivered by various business schools
across Europe. The London Stock Exchange Group launched ELITE because entrepreneurs
often find that that their passion and ideas are enough to launch them a business, but
accessing on-going growth finance from institutional investors, private equity funds or
venture capital is much harder. ELITE facilitates company access to a full range of funding
options, increases company profile and visibility, promotes relationships and opportunities
with potential investors, and supports management best practice and entrepreneurship.
Enjoy a short interview with the CEO of Elite Programme – London Stock Exchange Group
How many companies have joined the programme?
We have welcomed more than 400 companies to the ELITE programme as well as over 150
financial advisers and professional bodies. In addition, the programme now also boasts
more than 100 institutional investors including private equity firms as we all as
specialist debt investors.
The 400 companies come from 23 European countries, the programme having been rolled
out across Europe in 2015. The companies have a combined revenue of more than EUR
33bn,come from 33 sectors and employ more than 140,000 employees. This is now a very
serious and impressive pan-European programme.
Why did LSEG launch this programme across Europe?
High growth SMEs are the major source of new, high quality jobs. For the EU
economy to grow we need to ensure these types of companies are nurtured and
supported as fully as possible. We want to create a community for Europe’s most
ambitious high growth businesses. We have brought together over advisors and
investors, including leading accountancy and legal firms; business angels, VCs and
private equity houses; institutional investors; PR firms; banks; brokers, as well
as the major trade and investment bodies.
How do you select the participants? Do they have to pay to be part of ELITE?
We look for high quality, highly ambitious businesses. This can include an
established successful family run business as well as a high growth, high tech next
generation company. All applicants are selected following detailed discussions
with the ELITE team. There is a financial commitment from the companies
participating to cover the cost of running the programme - €10,000 per year.
How have companies performed since joining ELITE?
The results have been truly impressive:
• 45 Companies have completed a deal with a Private Equity firm
• 15 Companies publicly announced an intention to IPO
• 21 Companies have issued bonds, raising EUR 410m
• 120 M&A / JV deals completed by ELITE comapnies

30. JOIN OUR GLOBAL EFFORTS
AT WBAF 2018 TOO
We encourage you to join us in our efforts to harness the force
of the world’s rapidly growing early-stage investment market.
Join our global efforts to ease access to smart finance to
create more jobs and more social justice worldwide. Your
efforts to convert the world economy to a smart economy
in cooperation with the World Business Angels Investment
Forum will be highly valued.
wbaforum.org
WBAF 2018
19 - 20 February 2018
Istanbul