Business Angels in the Czech Republic

This dissertation thesis concentrates on Venture Capital in the form of Business Angel investments in innovative companies in the Czech Republic. Primarily, the general knowledge of the Business Angel investments among entrepreneurs and students, the utilization rate of angel investments and the terms of cooperation between investors and entrepreneurs were analyzed. The main objective of this work is to design a methodological procedure of optimal cooperation between Business Angels and innovative entrepreneurs that has had a positive impact on the prosperity of all stakeholders. The theoretical framework summarizes the importance of Venture Capital as a source of funding new and innovative technology companies. Moreover, it focuses on realized research concerning angel investment in the USA and Great Britain. The primary research was realized in the form of interviews with investors and entrepreneurs, who had raised capital from Business Angels. As well, was realized five year long research among the students of universities all over the Czech Republic via questionnaire. Based on the analysis of secondary research and results from qualitative and quantitative research, were designed a normative model, descriptive model and methodology of cooperation between Business Angels and entrepreneurs. The proposed models and methodology respect the international practice, and the outputs have been tailored to the Czech environment as well.