New Business Ideas Competition
for Technology Entrepreneurs
September 2002
The Northwest Development Agency's TEChINVEST service and
E-Synergy announce a competition for the best new technology
business idea with the greatest commercial potential for
a NW team or individual interested in raising equity finance.
In partnership with the Northwest Development Agency's TEChINVEST
service, E-Synergy is launching a new Investment Readiness
Programme for businesses with new technology. This forms part
of a pilot scheme sponsored by the SBS (Small Business Service
of the DTI) to develop the readiness of small firms to receive
external equity investment. The UK is a creative source of
new science and technology but technology entrepreneurs often
lack business skills, contacts and finance to exploit their
ideas successfully.
Dr Andrew Stevenson, Chairman of E-Synergy said " E-Synergy
is delighted to have this opportunity to work with the Northwest
Development Agency's TEChINVEST service. The North West is
a region which has a great deal of technological creativity.
E-Synergy's investment readiness programme offers a structured
programme, access to technology and market support from AIRTO
members, development of the management team and access to equity
finance from a wide network of technology business angels across
the UK.
Vivienne Upcott Gill, Head of Business Finance and TEChINVEST
at the Northwest Development Agency said " It is widely
recognised that many sound business ideas fail to attract funding
because the entrepreneurs fail to present their case effectively
to investors. TECHINVEST's own investment readiness service
open to any start-up or established company with growth potential
has assisted many companies to raise investment over the last
nine years. This additional more intensive programme specifically
for embryonic early start technology businesses is a real opportunity
to speed up the commercialisation of some of the world class
technology emanating from the North West."
The winner, who will receive a cheque for £5000, will
be announced at an Award dinner on October 22nd at Haydock
Park Race Track, which will follow the launch of the new Investment
Readiness Programme.
Jon Moulton of Alchemy Partners, the renowned venture capitalist,
has agreed to present the award and to provide a private session
offering feedback advice on the development of their business.
Competitors are requested to provide a 1-3 page executive
summary of their idea in confidence.
Further information:
• telephone the TEChINVEST team on 01925 400301
• email TEChINVEST at techinvest@nwda.co.uk
• email E-Synergy at InvestmentReadiness@e-synergy.com
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