W.IN.G, code name for 50 million to be invested in Walloon start-ups
Decisions will be made by an Investment Committee composed of “serial entrepreneurs” and investors, chaired by Pierre Rion. This fund, endowed with 50 million euros, is housed within the SRIW and managed by it. It has already concluded the financing of two digital startups: ListMinut and Neveo .
“For digital companies, speed of entry into the market is an essential factor. W.IN.G detects high-potential projects at the first stage of their development and decides, within a very short period of time, to grant them an initial financial boost. This will allow project leaders to quickly have the means to test their concepts and convince investors for a first round of financing. Partnerships are also being established with support structures, in particular Leansquare, in order to structure projects that are not yet mature,” stressed Minister Jean-Claude Marcourt.
And the Minister added: “Through ‘Digital Wallonia’, I want to boost the digital sector in Wallonia. The establishment of the digital fund is the first step in my political project, which clearly aims to grow a high-performance digital ecosystem in Wallonia that is recognized internationally.”
The W.IN.G by Digital Wallonia fund invests in young, innovative digital startups that have real market prospects and strong growth potential. W.IN.G offers Walloon startups seed capital and aims to validate the investment potential of projects that are in the early stages of their development.
W.IN.G invests at two stages of startup development.
First, in pre-seed, i.e. in pre-financing. The startup, at the very beginning of its creation and possibly upon leaving an incubator, can obtain funding (releasable in tranches) of 50,000 euros from W.IN.G, in the form of a convertible loan. This funding allows it to continue to refine its project, while setting up a first round of funding with a view to increasing capital.
When the project has matured, it is necessary to look for investors. This is the second stage of development. W.IN.G can then, if it is convinced of the profitability potential of the digital startup, intervene alongside these private investors, during the real “first round of financing”. The financial intervention can then go up to 250,000 euros (if applicable jointly with an investor), provided that there is a private intervention equal to at least half of the public intervention.
The procedure for submitting a funding application, the decision-making process and the release of funding could not be simpler given the rapid developments that characterise the digital sector.
Field partners
Other features of W.IN.G: relying on the skills of an Investment Committee composed of business financing specialists and serial entrepreneurs who will decide on the investment opportunity in startups, chaired by Pierre Rion.
“With W.IN.G,” Pierre Rion emphasized, “startups will also benefit from advice from mentors, coaching if necessary, a growing community and the possibility of privileged access to certain services from its partners.”
The first partnerships have been established. Belfius Bank becomes a Partner in Equity of W.IN.G. Among the partners who offer specific services and coaching to startups, we find Deloitte, Universem, Microsoft, BNPParibasFortis, Citobi, the Réseau Entreprendre Wallonie and of course Leansquare.
With the creation of W.IN.G, the SRIW reaffirms its desire to contribute to the modernization of the Walloon economic fabric, and its capacity to support innovative companies at all stages of their development.
For Olivier Vanderijst, Chairman of the SRIW Management Committee: “The fund will benefit from the know-how of the SRIW teams and their networks. The SRIW aims to participate in the creation of a digital ecosystem, just as it has already contributed to the birth of a biotech ecosystem. The SRIW has set up investment methods and an investment committee adapted to the challenges of the sector. It will rely on all the players already present to have maximum leverage.”
Two digital startup financings have already been finalized. Indeed, several startups, barely after the creation of the fund announced last December, submitted a request for financing. True to its desire for responsiveness, W.IN.G, which relies on an existing structure, the SRIW and whose Investment Committee was quickly formed, did not wait to launch the application analysis procedure. W.IN.G therefore welcomes its first two startups: Listminut and Neveo.
