Finance and Funding
Finance and Funding
Investment Preparation Advisory Service
As an entrepreneur with a business idea, you face the major challenge of funding the idea until it is commercially viable. In order to succeed, many high-tech and knowledge-based businesses require external funding so it is best to understand what is available early.
Before beginning the search for funding, it is important to understand what types of funding are available and their implications for your business. Only then can work begin on the funding strategy. The investment preparation advisory service helps you start the funding process; it introduces the types of funding available and advises on business plan requirements. The services are free of charge to Hub companies, but not all Hub companies will be eligible.
The service consists of:
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An introduction to Finance South East, who are experts in small business finance including: bank and non-bank finance, venture capital, Business Angel finance and grants
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Advice clinics run at each Enterprise Hub to introduce members to the services available. These are general sessions that will be attended by several companies. In addition, there may be sessions on specific funding issues.
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Access-to-funding workshops - half-day sessions run specifically for new companies; more detailed and hands-on than the clinics. The workshops improve and sharpen the entrepreneur's grasp of the challenges involved in attracting funding.
Investment Readiness Programme
Many early-stage, high-tech and knowledge-based businesses need external funding until sustainable revenues begin to flow. There are far more companies seeking funding that there are funds available. Against this backdrop it is vital that you work hard to maximize the chances of securing funding.
The investment readiness programme can help. By following a focused and intensive programme, lasting up to six months, you can be sure that you have a well-prepared case for funding and avoid the common pitfalls facing new companies.
The programme is available to selected businesses that have made sufficient progress in a number of key areas, including:
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Production of a business plan that has been discussed and reviews with a member of the Hub team.
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A statement of funding issues including an action plan to achieve investment readiness within six months.
The programme is highly practical and involves:
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Regular liaison with the Hub team and Finance South East, who will advise on the most appropriate financial support for the company.
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Presentation of the funding proposition to an expert panel, comprising Hub Directors, Angel Investors, Finance South East representatives and sector experts. The panel will provide written feedback on whether the proposition is fundable and investment ready.