NIU, Andorra Telecom’s incubator / accelerator for companies located in la Massana, will organize the first meeting between entrepreneurs and investors, on November 20th. The private forum called NIU Demo Day, offers start-ups the opportunity to present their projects to financial institutions, Business Angels and Venture Capital companies.

NIU Demo Day will take place at the Art Hotel, in the morning. The organization has restricted presentations to a maximum of eight projects submitted in a very agile format and with limited time. Participating entrepreneurs can either be part of the NIU or external. In this sense, start-ups will be analysed, and those ready to present will be invited to the conference, from a pre-selection of 10 to 12 projects.

After the presentations, a space will be made available for entrepreneurs to give additional information to investors interested in their projects.

Andorra Telecom’s deputy general manager, Antoni Ambatlle, and NIU’s manager, Miquel Gouarré, presented the forum to the Media. Ambatlle recalled that access to finance is a very important part of any entrepreneurship development program. “Many start-ups die prematurely because they’ve not had the opportunity to present their ideas and projects to a network of investors. The work of entrepreneurs, however good the idea or project may be, is not enough when they have to allocate resources to the definition of the business model, production phase, marketing or commercialization. Without adequate funding, it is impossible for an entrepreneur to succeed,”he said.

Ambatlle also appreciated the positive response by entrepreneurs’ towards the NIU. A total of seven projects are already integrated. “The next step is to enable companies based in the NIU or others to obtain adequate funding to succeed.

NIU’s manager stressed that this type of forum, bringing together two essential parts of entrepreneurship, is very common in surrounding countries. Gouarré emphasized the willingness to attract a minimum of 30 investors, made up of Andorra’s Family Offices, Business Angels, Venture Capital companies or Andorran banks.

Antoni Ambatlle wanted to highlight the importance of NIU’s accelerator incubator in Andorra Telecom’s public responsibility policy. The Deputy Director-General underlined the willingness to contribute to diversification and entrepreneurship or to foster innovation and technological development. “As a telecommunications operator, we must be the driving force behind the creation of an ICT sector in Andorra,” he said.

NIU, a unique space in Andorra, generates an ecosystem of collaboration for the development of new companies, providing support from both Andorra Telecom, mentors and collaborators, to ensure the success of the project. The facilities provide 18 work posts, three meeting rooms and common areas.

Text: Andorra Telecom