Authors:Ann-Kristin Achleitner  is since 2001 full professor at TUM Business School, Technische Universität München. She is holder of the KfW Endowed Chair in Entrepreneurial Finance and Scientific Di-
rector of the Center for Entrepreneurial and Financial Studies
(CEFS). She is also honorary professor at the European Business
School and co-publisher of the scientific journal "Die Betriebs-
wirtschaft". Previously, she was, among other things, a member of
the EU Expert Commission for the financing of small- and medium-
sized companies. Today, she advises the German Federal Ministry of
Economics and Labor in the same field. Furthermore, she is deputy
chairwoman of the Advisory Board of the German Federal Financial
Supervisory Authority. In addition, she is co-founding partner of GiVentures AG.

Peter Albrecht holds (since 1989) the Chair for Risk Theory, Port-
olio Management and Insurance and is the managing director of the
nstitute for Insurance Science, both positions are at the University
of Mannheim. He has also obtained offers for positions at the Uni-
versity of Giessen, the University of Heidelberg and Humboldt-
University of Berlin. He is a qualified actuary (DAV) and  a member
of the management board of the  International AFIR (Actuarial Ap-
proach for Financial Risks)-group of the International Actuarial As-
sociation , vice chairman of the board of the German Society for In-
surance and Finance Mathematics (DGVFM) and at present a
member of the commission “Social Security” (Herzog-commission)
of the CDU Germany. He is also a present or former member of the
supervisory board of companies in the insurance and financial sec-
or. His main research areas are risk management and insurance,
mathematical finance and insurance mathematics, investment man-
agement and as well pension finance.

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