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N7 | BAC4SHC research enters the international scientific debate

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Excerpt. Project researchers have used major finance, entrepreneurship and management conferences to discuss BAC4SHC themes and emerging findings. BAC4SHC researchers have engaged with international academic communities through conferences in finance, entrepreneurial finance and management. The project report records participation in the Academy of Management 2025 in Copenhagen, the Global Finance Conference 2025 in Boston, ENTFIN […]

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N6 | BAC4SHC publishes an updated research agenda for entrepreneurial finance

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Excerpt. The second BAC4SHC research agenda connects the latest literature with evidence emerging from the project’s surveys, workshop and databases. BAC4SHC has completed its second research agenda on business angels and crowd investors. The agenda updates the project’s earlier literature mapping and integrates new research questions emerging from the investor surveys, stakeholder interaction and database-development

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N1 | BAC4SHC reaches month 30 with 15 project outputs and 45 mobility person-months

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Excerpt. BAC4SHC has reached month 30 with a substantial evidence base on investor human capital, startup performance, innovation, gender and sustainability. At month 30, BAC4SHC had completed 15 project outputs across its research, dissemination and management work packages. The results include four literature and research-agenda outputs, harmonised surveys of business angels and crowd investors, an

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N2 | New BAC4SHC database maps 7,997 European startups

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Excerpt. A new BAC4SHC research database connects early-stage investor type with startup characteristics, financial indicators and innovation outcomes. BAC4SHC has developed a validated database covering 7,997 startups located in 31 European countries and operating across 20 sectors. The dataset focuses on firms that received early-stage equity investment and brings together information on financing events, investor

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N4 | Women investors place greater weight on environmental and social impact

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Excerpt. BAC4SHC evidence highlights a significant gender difference in the attention given to environmental and social impact when assessing investments. Gender is a central dimension of BAC4SHC’s research on human capital and entrepreneurial finance. The expanded survey dataset comprises 183 responses, including 50 women, corresponding to approximately 27% of the sample. This provides a substantial

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N3 | What distinguishes business angels from crowd investors?

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Excerpt. BAC4SHC survey results reveal differences in experience, professional profiles and investment criteria between business angels and crowd investors. BAC4SHC developed harmonised surveys to compare the human capital and investment practices of business angels and crowd investors. The expanded survey dataset reached 183 responses: 101 from business angels and 82 from crowd investors. This broader

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N5 | BAC4SHC sustainability survey reaches 183 investors

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Excerpt. The BAC4SHC sustainability analysis examines how environmental and social criteria enter the decisions of business angels and crowd investors. The BAC4SHC sustainability dataset reached 183 responses by 18 September 2025, including 101 business angels and 82 crowd investors. The sample provides new evidence on how environmental and social information, certifications, professional experience and impact

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