"<< Background >>The need to improve the entrepreneurial and innovative capabilities of citizens has been underlined in three of the flagship initiatives in the EU strategy for jobs and sustainable growth: ""Innovation Union"", ""Youth on the Move"" and ""An agenda for new skills and jobs"". Indeed, one of the objective of the new Europe strategy is to “make an efficient European venture capital market a reality, facilitating direct business access to markets and exploring incentives for private sector funds that make financing available for start-up companies, and for innovative SMEs”.BAKE will develop an innovative training programme with a strong work-based learning component that will involve adults employed in the start-up or growth phase companies in on-the-job and online training, focusing on reducing the economic, relational and skills gap between different income groups and collectives at risk of exclusion. This includes an EQS and training for entrepreneurs about Business Angel Investment that to be replicated in all member states. It also practical cases, a PITCH guide and several tools that will bring together the knowledge gap and build up trustful relationships. Moreover, during these RLTs conflicts may arise due to different perceptions of the venture, expectations, and contractual agreements (Yitshaki, 2008). This leads to tensions, misunderstandings and unbalanced control and power between entrepreneurs and BA’s that affects venture performance (Higashide & Birley, 2002), venture’s innovativeness, and confidence in partner co-operation. A toolkit for both profiles will be developed with fair and balanced guidelines, training materials, vocabulary uses and practical cases. In this way, it means an improvement of the attractiveness of VET since entrepreneurs will be empowered and they will take advantage of their negotiation position.The end users will be involved in cutting-edge and forward looking training courses, tailored to meet the needs of the addressed sector. It will improve the employability of the workers and will provide VET providers with updated training programmes and materials (online and offline) that can be readapted to other sectors. VET participants and partners’ trainers will be equipped with the most recent tools on raising funding practices, developed by technology and innovation driven partners that are acquainted with the sector and business incubation, which puts the training at the forefront of the non-formal education provided by the partners. The project will enhance access to high quality entrepreneur fund raising training materials for free to participants with fewer opportunities. The project will develop innovative training materials that the market don’t offer, most of the existing courses regarding funding raising are focus just on investor and most of the entrepreneurs cannot achieve them since they are really expensive and they are provided by private business schools. In addition, these collectives are particularly focus on social entrepreneurship as they are especially sensitive to providing a solution to these social challenges. They are aware of the problems that they want to focus their project.VET providers, BA and business innovation experts will cooperate closely to develop and pilot the training programme in each project country and give the opportunity to both learners and trainers to apply raising funding skills directly at work and in real work life situation, thus enhancing the learning experience and improve the management of their financial and human resources.<< Objectives >>The project will develop training materials targeted towards entrepreneurs and trainers, based on how to successfully conduct business with angel investors, in terms of harbouring a successful relationship, outlining expectations, creating contracts involving exit warranties. This includes an EQS and training for entrepreneurs about Business Angel Investment that to be replicated in all member states. It also practical cases, a PITCH guide and several tools that will bring together the knowledge gap and build up trustful relationships.This consortium provide to the project a global and complete view of the different realities and allow us be able to provide a tailored material enabling it to fit in each sector or collective for each partner country. At the same time, it will enable us to ensure that the needs and expectations of different stakeholders, who work with different regional contexts and specificities, are integrated. Moreover, project partners will be in charge of providing information about partners, the project objectives, outputs and activities to their net of collaborators and partners at European level.Furthermore, all the partners have several networks of associated partner that make possible to reach exponentially final user and stakeholder through mailing lists, social media, website and phone calls. Thereby, the likely that they will incorporate the training programmes and deliverables for their daily use and entrepreneurs will have accessibility to this content increases. BAKE will enable fair and successful communication between the entrepreneurs and the investors through several training tools and guides that will teach entrepreneurs the knowledge required to allow efficient communication.It combines the specific knowledge, skills and competences of a diverse partners’ consortium in order to build an online training course and curricula that fits users’ needs with complete view mixing the experience and resources from both VET and BAs. EU problem is addressed with this project, thus we will provide a solution developed on a European level.In addition, the methodology implemented will rely on participative approach and collaboration among different stakeholders as guaranty for qualitative VET. In this way, it means an improvement of the attractiveness of VET since entrepreneurs will be empowered and they will take advantage of their negotiation position.Objective: to increase knowledge of VET students, entrepreneurs, start-ups and the training sector of financing schemes to make sure the acquisition of knowledge and skillsSpecific objectives:Increase knowledge of student, learners, entrepreneurs, start-ups, and future business ideas on the terms used under investment schemes so to equalise the language between the entrepreneurs and investorsEmpower entrepreneurs to successfully acquire business angel investmentsUpskill professionals with start-up businesses by improving language skills and capacities to enhance and develop their business languageStrengthening entrepreneur transversal key competences in initial and continuing VET Develop training materials and VET centres to include these materials in their syllabusIncrease capacity and professionalism of VET student and centers to work at EU/international level when an entrepreneur wants to raise funds abroad<< Implementation >>IO1 the partnership will participate in several working groups with Investors (Business Angels), Business, Entrepreneurs, Investment, Student, VET teachers and VET centres, and Legal Experts to develop a toolkit for entrepreneurs and financial actors to apply in fair and balance investment relationships. By providing knowledge, practice and guidance, the IO aims at win-win models of investment relationships. Our goal is empower VET student on entrepreneurship and entrepreneurs but also new possible investors by showing them key aspects of fair and balanced venture relationships and raise awareness of expectations and possible challenges stakeholders may face so to make this collaborations possible. Conflicts may arise due to different perceptions of the venture, expectations, and contractual agreements. Further materials on the toolkit are a clear a set of steps, recommendations and guidance will be drafted, with instructions for a development of a code of conduct between both actors and vocabulary or expressions for potential students/entrepreneurs for them to have less fear and more confidence when doing businessIO2, the definition, development and validation of a Training Course on alternative financing schemes for entrepreneurs is at the heart of the project. It is within the framework of these activities that we will develop the Common European Qualification Framework (EQF) for Successful Entrepreneurs in Investment processes. The creation of this framework will allow entrepreneurs and business to better understand how to successfully conduct business with angel investors, in terms of harbouring a successful relationship, outlining expectations, creating contracts involving exit warranties, among others. The creation of the training modules will make possible to improve entrepreneurship students of VET towards investors; improve their knowledge about investment processes; suggest aspects to improve the success of their already established relationships and higher chances of employability and qualification of the adult and young entrepreneurs. This includes 5 modules as described in the IOs section. IO3 will develop a Learning Management System (LMS) and a knowledge sharing platform. This activity is crucial so that on one hand we can test and survey the opinions of different stakeholders on this subject (Investors; Business Angels; Legal Experts, Business, Entrepreneurs; Training Centres, VET Centres) and also to ensure a wide dissemination of the content of the modules created as part of IO3 activities, thus allowing a wider visibility and awareness of the importance of investors in the upgrade and start-up of companies and the benefits of participating in win-win investment relations. Tools to be used: Quality Plan. Aim of accompanying the project implementation to monitor and assess the quality of the results and outcomes. The Quality Management Plan is the first step of the strategy to monitor and assess the quality of all produced results, as it defines its tools and instruments.Quality Control Board (QCB). It is composed by 4 members, responsible for monitoring and evaluating the project according to the Quality Plan. This shall enable verification of compliance of measures with a schedule, identification of possible problems and threats. The QCB’s role is to assess the overall quality of the work performed and the results achieved. Risk Monitoring Questionnaires will be sent before each Project Meeting (21). Internal Evaluation. It will be applied on an on-going basis amongst partners. A summary will be made at the end of the project. Main aspects to monitor: project’s objectives, the project’s results, the project’s approach and the project’s impact. A monitoring questionnaire (28) will be prepared by FEH before the second meeting and in all of them.External evaluation. Questionnaires (80) developed by FEH for events and activities of the project (Investors, Entrepreneurs, VET centrs BA)<< Results >>The implementation of the BAKE project will boost entrepreneur capabilities and provide guidance for angel investors. The project is expected to provide entrepreneurs with the relevant Knowledge, Skills, Competences and language skills to successfully conduct business with angel investors in a competent manor. By training and introducing the entrepreneurs to the BA language they will be better prepared for future involvement with investors in order to create a better relationship.Even before coming to an agreement, the main tool for entrepreneurs to introduce their idea to financing opportunities is the PITCH. BA usually see hundreds of pitches a year, so it is important for entrepreneurs to be able to summarise their growth target briefly and in a manner tempting. To give entrepreneurs that opportunity, a manual focuses on the main characteristics a PITCH should have and thus improves trust, knowledge and confidence of what to expect and better prepared the entrepreneur for dealing with possible challenges.The European Qualification Framework aims at providing a transnational solution to the lack of trust, understanding and knowledge of entrepreneurs of these funding schemes (EBAN). The scope of these four modules is for entrepreneurs and start-ups to acquire the needed knowledge to go through success investment and financing processes without failure of losing their companies. The training modules will focus on developing contents that provide tools and knowledge for entrepreneurs on how to successfully conduct business with angel investors in terms of harbouring a successful relationship. The platform where it will be hosted, the LMS, facilitates the multiplication across Europe of open and flexible training, enabling trainees to learn flexibly at one’s own pace.All these results have the same objective, to increase knowledge of entrepreneurs, start-ups and the training sector of business angels financing schemes and make sure the acquisition of knowledge and skills. The final aim is to tackle the lack of trust and understanding of BA investment schemes and thus increase the rate of entrepreneurs benefiting from BA and boost new ideas. The project will develop innovative training materials that the market don’t offer, most of the existing courses regarding funding raising are focus just on investor and most of the entrepreneurs cannot achieve them since they are really expensive and they are provided by private business schools, giving more chances to participant with fewer opportunities.Case Study on Successful Investment Funding SchemesRoadmap towards Doing Sustainable Business with Investors (Guide on PITCH; Code of Conduct; Guide on usual terms and vocabulary)European Qualification Framework for an Entrepreneurs Investment OfficeTraining course on alternative financing schemes for entrepreneursToolkit on balanced Funding Schemes with Business Angels (1) which contains:-How to assess venture relationships for entrepreneurs (Entrepreneurs’s book) (1)-“Codes of Conduct between Entrepreneurs and Business Angels Investors” (1)-Management of fair and balanced investments, (management techniques, communication, legal aspects)(Investors book) (1)-Equalising the language guide (1)-35 Practical cases on fair and balanced venture capital business (1)European standard for the qualification of investment agents with professional competence at EU level 1Diploma for students 1Trainer’s Book 1Course Evaluation Guide, 1Methodological guideline 1Evaluation Guide 1Roadmap to business with investors 1LMS platform 1Number of working groups with stakeholders (6)Target number of entrepreneurs per country who successfully completed the course and earned their diploma beyond the end of the project 20Nº VET students / BA / Investors who have completed the training 80Nº Countries where the course has been successfully completed 6Nº Target organizations in multiplier events in total 215"