The report, Business Angel Syndicates in Scotland, recommends that government should tap into private-sector expertise to help new companies become investment-ready.

The report, subtitled an Exploratory Study of Gatekeepers, looks at the role of angel syndicate managers and how they might be further enhanced to benefit the Scottish economy. One of its key recommendations is that emerging entrepreneurs should have greater access to the expertise of angel gatekeepers in the early stages to help make their business investment-ready.

One of the report’s authors, Stuart Paul from the University of the West of Scotland, said: “One of the gatekeepers’ key roles is to work closely with new companies that approach their syndicate and offer advice on what needs to be done by those who are not yet investable. This advice is based on the in-depth knowledge and experience of the angel gatekeeper community.

“This expertise could be put to greater use to benefit the wider business community across Scotland and we believe the Government should explore how they can put in place a structure to help start-ups tap into it. At present too many young businesses which are looking for capital are not investment-ready. While organisations like Business Gateway have a role to play in offering help at early stages, there are few better- qualified individuals who could give advice to young, expanding companies than gatekeepers of Scotland’s angel syndicates. This knowledge could be a great asset to Scotland’s economy.”

David Grahame, Executive Director of LINC, Scotland’s business angel capital association, said: “The syndicates across Scotland have played a key role in bolstering the economy at this critical time and their gatekeepers are in the front line of helping connect good businesses with the investment that they often need to help them flourish.”