Business angels are an important source of capital to early-stage ventures. They invest in high-potential companies and entrepreneurs who are unlikely to be able to raise more debt or to attract financing elsewhere. Business angels invest at the early stage of the venture creation process, when the venture is not likely to be viable without the direct participation of the entrepreneur. In most cases, business angels believe that their direct involvement in the company after investing significantly will increase the likelihood that the venture will be successful. Business angels are important not only to entrepreneurs and new ventures but also to the local economy, and their importance in stimulating new technological ventures is increasing.