WBAF makes history with the launch of its Global Code of Trust for Entrepreneurs and Investors, establishing a new ethical standard for the global startup economy. The Code, which will officially come into effect on 1 January 2026, introduces a framework designed to promote integrity, transparency, and responsible behaviour across early-stage investment ecosystems. By setting clear principles of ethical governance, WBAF aims to strengthen trust between founders, investors, and institutions, fostering a more equitable, accountable, and sustainable entrepreneurial landscape worldwide.
Accredited institutions will be listed in the Global Endorsement Register of the WBAF Code of Trust and will receive the official Accredited Trusted Excellence Center for Entrepreneurial Ethics badge — a mark of ethical distinction that can be showcased on institutional websites, offices, publications, and communications.
Istanbul, 29 December — The World Business Angels Investment Forum (WBAF), an affiliated partner of the G20 Global Partnership for Financial Inclusion (GPFI), has officially introduced the WBAF Code of Trust, the world’s first trust framework developed specifically for entrepreneurs, startups, and early-stage investors. This landmark initiative reinforces WBAF’s ongoing mission to democratise access to finance while promoting trust, integrity, and responsible governance across the global entrepreneurial landscape.
As entrepreneurship grows more global, digital, and interconnected, founders are increasingly required to collaborate across borders, cultures, regulations, and investment environments. The newly introduced Code of Trust responds to this reality, offering a universal, principle-based framework that strengthens credibility, reduces misunderstandings, enhances investor confidence, and supports long-term, value-based relationships.
“Trust is the world’s most valuable currency in the entrepreneurial ecosystem — and this Code exists to protect, cultivate, and elevate it,” noted WBAF Chairman Baybars Altuntaş.
“By setting shared principles of fairness, transparency, and accountability, we are building the ethical foundation of tomorrow’s global startup economy.”
A Milestone Moment at the WBAF Grand Assembly
The Code of Trust was formally presented during the WBAF Grand Assembly on 8 December in Istanbul, where global leaders gathered to advance ethical standards in investment and entrepreneurship. Developed under the leadership of Prof. Dr. Gerhard Hrebicek, President of the WBAF Ethical Governance, Quality Leaders & Standards of Excellence Committee and Senior Associate for Austria, the Code is built upon 12 core principles that define responsible conduct, mutual respect, accountability, and ethical leadership.
Prof. Dr. Hrebicek additionally serves as the President of the European Brand Institute (EBI) in Vienna — a global partner of UNIDO — bringing decades of expertise in brand valuation, governance standards, and institutional trust to the development of this global ethical framework.
The Code has been designed as a common language of trust, enabling entrepreneurs, angel investors, accelerators, chambers of commerce, universities, and corporate innovators to collaborate with clarity and confidence. It sets a new governance benchmark for organisations, brands, and individuals committed to ethical growth.
Prof. Hrebicek added: “This initiative is not merely a document — it is a promise. A commitment to lead with integrity, invest with conscience, build with transparency, and grow with purpose.”
Official Introduction Ceremony: A Shared Global Commitment to Ethical Entrepreneurship
The official introduction ceremony took place in the WBAF 2025 Grand Assembly in Istanbul, bringing together leaders of the global startup and investment ecosystem. During the ceremony, the WBAF Code of Trust was formally endorsed by WBAF – World Business Angels Investment Forum; WenCHAM – World Chamber of Entrepreneurs; EBI – European Brand Institute; BTM – Knowledge Commercialization Center of Istanbul Chamber of Commerce; BEO – Bahrain Entrepreneurs Organisation; and AWE – Association of Women Entrepreneurs Georgia.
The Code was signed by the presidents and executive representatives of each institution, symbolising a unified pledge to champion ethical leadership, strengthen accountability, and elevate trust-based collaboration across the entrepreneurial world.
A Call to the Global Startup & Investment Community
As a G20-affiliated organisation through the Global Partnership for Financial Inclusion (GPFI), WBAF now invites the global entrepreneurial ecosystem to endorse and implement the WBAF Code of Trust. This call is extended to entrepreneurs, angel investors, venture funds, accelerators, chambers of commerce, universities, public institutions, corporates, and policymakers worldwide.
By adopting the Code, stakeholders contribute to building a resilient, transparent, and trust-centered entrepreneurial economy, positioning trust not simply as a value — but as a universal standard for collaboration, investment, and innovation.
To elevate this framework to the highest global platforms, WBAF, as an affiliated partner of the G20 Global Partnership for FinancialInclusion (GPFI), will formally send letters of invitation to G20 leadership, the OECD administration, the United Nations, UNIDO, the African Union, ASEAN administration, and the European Commission, encouraging them to recognise and promote the Code of Trust as a key element of economic development and responsible entrepreneurship.
Accredited Center of Trusted Excellence in Entrepreneurial Ethics
Institutions worldwide may now apply to be formally recognised by the World Business Angels Investment Forum as an Accredited Center of Trusted Excellence in Entrepreneurial Ethics. This recognition is granted to organisations that endorse and implement the WBAF Code of Trust, demonstrating their commitment to ethical conduct, transparency, accountability, and responsible leadership in entrepreneurship and early-stage investment.
Accredited institutions will be listed in the Global Endorsement Register of the WBAF Code of Trust and will receive the official Accredited Trusted Excellence Center for Entrepreneurial Ethics badge — a mark of ethical distinction that can be displayed on institutional websites, offices, publications, and communications. This status signals to investors, startups, and international partners that the organisation operates with integrity and aligns with global ethical entrepreneurship standards.
How to Endorse and Become Accredited
Any organisation — including innovation centers, business angel networks, chambers of commerce, accelerators, incubators, universities, startup hubs, public agencies, investment platforms, entrepreneurship foundations, or private sector institutions — wishing to endorse the Code and join the global network of accredited ethical institutions may contact:
Christina Mc Gimpsey
Secretary General, World Business Angels Investment Forum
Christina.McGimpsey@wbaforum.org
