CorkBIC is set to play host to an all-Europe angel reunion at Páirc Uí Chaoimh next month.

The event, taking place on May 18 and May 19, will see high profile guests such as Minister for Public Expenditure and Reform, Michael McGrath in attendance.

Around 350 business ‘angels’, investors, and start-ups from across the globe will be present at the congress, making it the first in-person event for Europe’s business angels.

Business angels are private individuals, usually with a high net worth and a wealth of business experience, who directly invest part of their assets into new and growing private businesses. They can invest individually or as part of a syndicate where one angel typically takes the lead role. They also provide business management experience, skills, and contacts for the entrepreneur.

The two-day event — sponsored by Cork City Council, Cork County Council, EY Private and AIB — will boast some of Europe’s most renowned investors and super angels such as Acorn founder Dr Hermann Hauser.

It is hoped that the conference will bring €250,000 to local businesses and hospitality providers in Cork during the two-day event.

Business angel investment is already said to be thriving in Cork. Just last year the HBAN Boole Syndicate, which is based in Cork, invested €2.3m in start-ups. This saw a rise of 52% compared to the previous year.

Michael O’Connor, CEO, CorkBIC, underlined the importance of events like the All- Europe angel reunion.

“Cork’s economy is thriving and that is reflected in the start-up ecosystem,” he said.

“Some of the world’s biggest companies are based in Cork, creating a talent pool for start-ups and a knowledge pool of angel investors who can share their expertise with entrepreneurs. As a result, angel investment in Cork is continuing to grow. Now is the ideal time to showcase that on a European stage and use our knowledge to help our international angel investor community to be successful.

“We want to show investors that world-class innovation and expansion is happening nationwide and that some Cork companies have recently delivered returns to business angels that are 12 times greater than original sums invested.”