CorkBIC is to host an all-Europe angel reunion at Páirc Uí Chaoimh in Cork on May 18 and 19, which will be attended by Michael McGrath, the Minister for Public Expenditure and Reform.

Business angels from across Europe will attend the European Business Angels Network (EBAN) Congress with the aim of increasing annual angel investment in Europe from €8 billion to €10 billion by 2025.

Up to 350 business angels, investors and start-ups from 35 countries will attend the Congress, which marks the first time Europe's business angels have gathered in-person in more than two years.

The two-day event is sponsored by Cork City Council, Cork County Council, EY Private and AIB.

The event will feature some of Europe's most eminent investors and super angels, including Dr Hermann Hauser, founder of Acorn, and an investor and inventor who has been honoured for his contributions to the UK's enterprise, engineering and technology sectors.

The venture capital firm he co-founded, Amadeus Capital, has invested in 180 companies.

Also attending the Cork event will be Peter Cowley, another super angel and the former president of EBAN who has invested in more than 76 companies.

The conference is expected to bring €250,000 to local businesses and hospitality providers in Cork over the two-day period.

Michael O'Connor, CEO, CorkBIC, said that angel investment has been steadily growing in the Southwest region, bringing opportunities to investors and start-ups alike.

"We are honoured to be putting Cork on the European stage as we reconnect the angel community and work together to increase angel investment across Europe," Mr 'Connor said.

"We look forward to welcoming business angels, investors and start-ups to the Congress and exchanging ideas on how angel investment can further economic growth," he added.

Minister Michael McGrath said that cork is continuing to raise the bar as a hub for entrepreneurialism, scaling and investment.

"Some of Ireland's most promising start-ups and scale-ups are located here, along with some of the world’s largest enterprises," Mr McGrath said.

"Helped by the tremendous work of CorkBIC, our region is now on the world map as a centre for innovation, making it well-placed to host an international event of this calibre and being a launching pad for the future of angel investment across Europe," he added.