Fundación Equipo Humano coordinated BAKE, an Erasmus+ (KA2) project that offered innovative training to entrepreneurs and SMEs on how to obtain financing effectively, as well as how to establish successful relationships with the so-called business angels. BAKE aimed to reduce conflicts that might arise between entrepreneurs and investors (misunderstandings, imbalances…), so that both parties could establish more equitable, effective, and successful relationships.

In doing so, the EU aimed to make an efficient European venture capital market a reality by facilitating direct access to markets for companies and exploring incentives for private sector funds to facilitate financing for start-ups and innovative SMEs.

A project led by expert entities in financing, entrepreneurship, and training 
The consortium behind BAKE was made up of experts in financing, business angels, and entrepreneurs from different European countries. Specifically, the partnership was composed of the Spanish entities Fundación Equipo Humano, BIGBAN Inversores Privados, and Escuela Profesional Xavier; EBAN – European Business Angels Network (Belgium); Institute of Entrepreneurship Development (Greece); Mediterranean Management Centre (Cyprus); Finnish Business Angels Network (Finland); and Materahub (Italy).

The concrete results of the BAKE project are:

PR1: The "Toolkit on Fairer Funding Schemes with Business Angels" , which includes a comprehensive set of educational tools designed to meet the needs of both entrepreneurs and investors. This toolkit also includes 37 real-life case studies of balanced relationships between entrepreneurs and Business Angels, a code of conduct agreed upon by both parties, a glossary of key terms, and contract templates for equitable collaborations. These tools provide guidance and concrete resources to facilitate fair and transparent negotiations, improving investment and financing practices for startups and entrepreneurs.

PR2: A European Qualifications Framework (EQF) for Entrepreneur Investment Officer has been established based on ECVET. This framework standardises the competencies necessary to understand and manage business investment relationships effectively. An innovative and high-quality curriculum of 7 modules has been created, available in five European languages, designed for entrepreneurs in the early stages of investment. These educational materials facilitate access to training on financial pathways, transforming ideas into successful businesses and enhancing entrepreneurial skills at different stages of growth. Additionally, a trainer’s guide with pedagogical guidelines and a methodological guide for the training course are developed.

PR3: The "Development of an Open-Source Learning Management System and Integration of Training Course Content" has been carried out. This outcome introduces significant innovations in education through a dynamic approach that involves students, entrepreneurs, companies, and startups. A Learning Management System (LMS) is created, initially designed in English and later translated into several languages by the project partners. The LMS integrates all the training content, including videos, documents, and self-assessment tools, providing an interactive and accessible online educational environment.

If you want to have access to these results and find out more about the BAKE Project, visit our website: https://bakeproject.eu/