Angel 2 0 | HU University of Applied Sciences Utrecht

Promising startups do not always find the right funding or guidance. ANGEL 2.0 explores how more women can become business angels and how regional partners can effectively reach, train, and connect them with startups. In doing so, the project contributes to a more inclusive funding ecosystem and fairer opportunities for female entrepreneurs.

The aim of ANGEL 2.0 is to gain insight into what is needed to engage more women as investors in young, promising companies. The project explores how companies, startup organizations, and regional partners can collaborate to create an accessible and inclusive network in which new investors—particularly women—receive sustainable training, are connected, and are activated.

The project provides insight into the potential, needs, and barriers of female investors in Utrecht. In addition, it develops concrete approaches to reach and guide them, and to connect them with startups and regional partners. The findings serve as a foundation for further scaling and follow-up research.

Returns for Stakeholders in the ‘Angel Investment’ Sector
The overview below describes possible 'outcome cards'. These materials are practical for use by AtVenture, ROM Utrecht, startups, corporates, educational institutions, and other regional partners. Type: Report Deliverable: Angel 2.0 research report What will be delivered: Insights into the profile, motivations, needs, and barriers of female business angels. Type: Report Deliverable: Recommendations inclusive angel ecosystem What will be delivered: Practical recommendations for attracting, supporting, and retaining new business angels. Type: Tool Deliverable: Angel 2.0 profile card What will be delivered: Angel 2.0 profile covering characteristics, motivations, preferences, and information needs. Type: Tool Deliverable: Corporate entry-scan What will be delivered: A tool for identifying the characteristics of corporates as a source of new Angel 2.0 investors. Type: Methodology Deliverable: Approach to bias-aware investing What will be delivered: Practical principles for creating a more conscious startup assessment process. Type: Methodology Deliverable: Outreach approach for potential business angels What will be delivered: An evidence-based approach to reaching and activating women who may become business angels. Type: Educational material Deliverable: Research protocols What will be delivered: Interview and survey protocols, including the Schwartz Value Survey, for research into the values, motivations, and behavior of business angels. Type: Educational material Deliverable: Three student prototypes What will be delivered: Prototypes focusing on the Angel 2.0 profile, gender bias, and the role of corporates. Type: Media Deliverable: Article Lessons learned What will be delivered: Draft article on scaling an inclusive angel ecosystem. Type: Event Deliverable: Knowledge-sharing and results event What will be delivered: A small-scale event to share preliminary results with education and practice partners. Type: Collaboration Deliverable: Follow-up agenda and RAAK-mkb plan What will be delivered: Joint project planning for follow-up research and potential scaling through a RAAK-mkb application.

The project combines interviews and surveys with practice-based research conducted by three multidisciplinary student teams. Working in co-creation with AtVenture/True Story Company, researchers, and regional partners, they are developing three prototypes and concrete recommendations for a more inclusive angel ecosystem.

For professional practice, ANGEL 2.0 offers concrete insights and tools to reach, train, and connect more women as business angels. This provides AtVenture/True Company Story, ROM Utrecht, corporates, and startup organizations with the means to build a more inclusive regional investor network. In the educational sphere, students from finance, marketing, and media backgrounds collaborate on real-world challenges, gaining practical experience while developing skills in research, collaboration, and design.

Arie de Wild
- Lecturer-researcher
- Research group: Financial-Economic Advice in Innovation
Tijs Timmerman
- Professor
- Research group: Marketing & Customer Experience
Lucque Schmeitz
- Lecturer-researcher
- Research group: Financial-Economic Advice in Innovation
Edwin Weesie
- Professor
- Research group: Financial-Economic Advice in Innovation
Linda Boissevain
- Lecturer-researcher
- Research group: Financial-Economic Advice in Innovation