This report provides a systematicassessment of business angel activities, and the ecosystemsurrounding innovation finance, in the Czech Republic. Basedon literature reviews, published data sources and localstakeholder interviews, the report distills findings relatedto the demand for and supply of risk investments, and offerspolicy recommendations for stimulating business angels. Thereport characterizes the Angel ecosystem as emerging withpotential for growth. It is small both in terms of thenumber of investors and the amount invested. There appearsto be a general lack of syndication of investments andconcentration of investments in the capital (Prague) and inthe information, communication, and technology (ICT) sector.On the demand side, a credible deal flow does exist,although it falls short of constituting a critical massneeded to support the development of the market. Whileissues in the local environment may affect the flow of angelinvestments, these are not insurmountable, based on thecountry’s competitive ranking on relevant global andEuropean indicators. Finally, the report proposes a numberof policy recommendations for enhancing business angelawareness and investments, including data collection andmapping of early stage market activities (short-term),creation of Czech National Angel Association (medium-term),and implementation of incentivization measures such asco-investment funds and tax incentives (long-term).
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