Impact Investing Interview #2: Netflix for Independent Films

Last month, I published our first ‘Impact Investing Interview’ with Work For Good who are revolutionising the market for corporate charity donations. Since the publication of that interview, Work For Good is now overfunding (accepting pledges until 30th April) on SeedTribe (Angel Investment Network’s impact-conscious crowdfunding platform). Thanks to those of you who contributed and shared!

For those new to impact investment, the post starts with a concise definition of impact investment, its benefits to investors and its ability to bring about positive and lasting change in the world.

The purpose of this series of interviews is to edify and entertain investors and entrepreneurs with an interest in impact and socially responsible investment/entrepreneurship.

Today’s interview is with Dean Fisher, the Director of Bow Street Media whose latest project ‘Film Ahoy‘ is bringing a socially-conscious angle to online film distribution. It’s an enormous market but often considered ethically-bankrupt.

Film Ahoy is working to change this…

The Interview

Part 1 – About Film Ahoy

What’s your mission?

Our mission is to create an alternative film distribution platform for both consumers and filmmakers. The product we’ve been developing will change the industry and offer great alternative programming. We plan to launch the platform soon with the aim to be online on mobile and eventually on smart TV’s.

Who are your clients?

The digital distribution market has now outgrown the physical distribution market. On one side, our clients are consumers who watch films online; and on the other side, content providers and filmmakers complete our client base.

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What stage are you at in your business?

We have developed the technology and the website is ready to go live. We have also got on board an advertising partner who can start selling advertising on the site. So far we have secured over 150 titles to the site and will continue to grow the films on offer. We are going to soft launch the website and then start marketing it to consumers to build traffic and awareness for the Film Ahoy brand.

What’s your business model?

We acquire and place films on the Film Ahoy platform where consumers can watch them for free. All they have to do is watch 2-minute commercial breaks every twenty minutes. If they don’t want to watch the commercials, they will pay £1 per film to own the title and be free of commercials. All revenue is split 50/50 with the filmmakers. We will also generate additional revenue through ad placements on the site.

How much funding have you raised to date?

We have raised £67,500 through SEIS.

What’s next for your company?

We are launching the site in the next couple of weeks. There are a few tweaks being done by our developer next week and then we are ready to go. All of our marketing materials are in place and ready to go live. Each film’s trailer will also be promoted on the web through social media and advert placements. (Here’s a link to the new consumer advert).

Once the site starts to build traffic, we are going to produce the app for IOS and Android. We also have some options to put the site on Smart TV’s which will give the consumer every chance of using the platform.

Part 2 – Film Ahoy’s Potential Impact

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What does “Impact” mean to you as a profit-driven company?

We will generate 50% from all advertising and pay per view revenue. We can also generate revenue from Google adverts, product placement, merchandise and the sale of statistics on how many times each film is viewed. The overheads of running the company are quite low so we feel we can turn this into a profitable business in a reasonable time frame.

What are the metrics you will use to track/measure your impact?

We have targets each year on how many views we are looking to achieve. We can assess our progress on a month by month basis. Our reporting system gives us the stats we need to monitor our progress. We can also what campaigns will help drive traffic to the site.

How do you go about choosing and confirming the films to list on your platform?

We attend film markets all year around. The three key film markets are Berlinale in February, Cannes in May and the AFM in November. At the markets, we meet with as many content providers as possible. These can be in the form of filmmakers, sales agents who represent films or distributors. So far we have some signed deals with a large number of companies. They provide us with multiple titles which we curate by initially watching the trailers and the films. At the end of the American Film Market, we had received over 1000 films.

What is the vision for the company?

The vision for the company is to launch in the UK first of all. We want to focus on building the brand and making the platform the go-to place for free independent films. Once we have established ourselves in the UK, we will then move into the US market.

Can you tell us more about the need for Film Ahoy in the film industry? What do you see as the biggest challenges in the film/media industry at the moment and how do you hope to address any of them?

The market has many subscription service providers for every genre. We feel we have a different angle and will appeal to both consumers and filmmakers. For consumers they do not want to subscribe to every service available and some people cannot afford monthly fees. Film Ahoy is an easy-to-use, no-commitment service. Consumers will put up with adverts if the content is free.

We don’t feel that an independent film should be £9.99 to purchase online. Independent films need to be more competitive and priced accordingly. When iTunes came out tracks were £0.69, this took away the need for people to download illegally as it was easier to purchase the track then look over the net and download a virus. Pricing films at £1 to own means that independent films can be competitive.

The industry is becoming more and more challenging. Hollywood Comic book films perform consistently but independent films have to fight to find their voice. We have got the support of the industry and many companies have signed up to provide content. For filmmakers, they can use Film Ahoy as an additional revenue stream. We will also be encouraging people to promote their films on the platform which will drive traffic to the site. Eventually, people will be making films just to go up on Film Ahoy which will give us unique content.

What is your current biggest challenge and how are you seeking to address it?

We feel we need a reasonable marketing budget to grow the company and create awareness for the brand. If we do not raise as much as we hope the growth of the company will be slower.

What are you most proud of/excited about for your business?

We feel this model can really shake up the industry. Cynical people would say how can you compete with Netflix or Amazon. The marketplace is big enough for new players and services which gives the consumer an alternative viewing experience. We feel that Film Ahoy can break into the market and become a global brand.

Interested in Impact Investment?

If you want to find out more about Film Ahoy and their current fundraising round, visit their pitch page on Seedtribe.

Do you anyone who might consider using Work For Good for their business?

Do you know anyone interested in impact investing?

Please consider sharing. You’ll be doing good!

Marketplace of Essential Tools for Entrepreneurs

Angel Investment Network has been helping entrepreneurs meet investors for fourteen years now. The community is nearing 1 million users and more and more people are successfully raising money and meeting useful partners through our platform.

Pat on the back for us, right?
entrepreneurs pat

Well, we’re not happy.

We think we’ve been lazy. We believe we can do far more to support entrepreneurs in achieving their ambitions. In this sense, the platform has a long way to go.

What more are we doing to help?

We are entrepreneurs and our job has been to help entrepreneurs for the last decade and a half. So, we feel pretty well-qualified to know what support entrepreneurs need most. Beyond just meeting investors. And we know that we’ve not been providing everything!

So, we spent the last year reaching out to some of the most highly-reputed companies in their spaces. These companies provide specialised tools and services to help people like you grow their companies.

We have now partnered up with the best of them to bring you our Marketplace for Entrepreneurs!

You can now get expert help with:

– Legal/Finance/Accounting
– HR/Recruitment
– Design & Development
– Office Space
– Marketing
– Alternative Finance

From companies like:

SeedLegals – Easily complete all the legals for your funding round online in a fraction of the time, paper-free
Fanbytes – Advertise through SnapChat
SnapHR – Developer hiring
Kandidate – Non-technical hiring
Jobbio – Careers marketplace & talent matching
Hubble – Office space
Tide – Modern business banking

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There is also a host of useful tools to ramp up your entrepreneurial efficiency.

This marketplace is open to all, not just members of Angel Investment Network so feel free to share with anyone you think would find it useful.

If you would like to see a service added, let us know and we’ll get our Partnerships team on the case!

Enjoy!

Impact Investing Interview #1: Work For Good

What is Impact Investing?

Impact investing is when an investor backs a business which has a social and/or environmental mission at its core.

This is not the same as philanthropy where investors expect no returns on their investment other than the reputation boost; and an impactful business is not the same as a non-profit.

Impact investments are made, with financial returns in mind, into businesses targetting profitability alongside their social mission.

An impact investor is, therefore, someone who chooses to support great businesses aiming to do good and make money, rather than just turn a profit.

The decision to be an impact investor is an empowered choice which has already enabled many world-changing businesses to do great things. The rise in awareness of the key social and environmental issues of our time has started a shift in the way many investors view the desired outcome of their investments. More and more want their financial outlay to have an impact as well as generate returns.

What are we doing to help this movement?

Angel Investment Network recently launched Seedtribe to attract more of its investors into the impact investment space.

Seedtribe is an angel-led, crowdfunding platform when everyday investors can invest from as little as £1000 into opportunities backed by angel investors and curated by the Seedtribe team. Investments can be made directly through the platform so the process is as seamless as possible.

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We are confident that this new model will help impact businesses complete their funding rounds quickly so that they can focus on bringing their benefit to the world.

We are delighted to have Work For Good as one of the first impactful businesses on the Seedtribe platform.

Who are Work For Good?

UK annual charity income is around £20bn, but only 2% of this comes from businesses, as the process is complex, costly and lacks transparency with many legal and tax impediments. Work For Good’s platform removes these barriers and has created a market for corporate giving.

Work for Good makes it easy for businesses to give in a way that’s good for them and charities – by doing what they already do. By giving through the Work For Good platform, they can impress their clients, inspire their people, and be a force for good in the world.

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Liv Sibony recently took charge as the Head of Crowdfunding at Seedtribe and brought Work For Good onto the platform. (Liv previously founded and sold Grub Club, a platform aimed at helping chefs build a reputation and an income by hosting pop up dining experiences.)

She sat down with Danny Witter, CEO & Co-Founder of Work For Good, to get some insight into the problem of corporate giving and the Work For Good solution…

The Interview

What’s your vision for the company?

To make business giving the norm and to unleash the giving power of the business world. Business giving makes up only 2% of all charity income in the UK which is a disgraceful figure. We can not rely on the giants of the business world to do it for us, The FTSE 100 charitable donations are down 25% from 2013 to just £1.2 billion in 2016, so why not create a culture where the other 5.7 million businesses support causes just by doing the work they already do? If 5% of SMEs gave one day’s revenue, it would generate £208 million annually.

It also improves the bottom line for businesses (68% of SMEs believe their company’s donations to charity had a positive effect on their company’s profitability and 37% of SMEs claim that giving to charity helps to attract new clients) and improves employee morale while raising vital funds for charities.

For charities, especially the smaller, local ones who have less capacity to market themselves and seek donations, we will create greater visibility and support for them to grow their efforts and allow businesses to match with charities that are local or relevant to them.

We don’t think this vision should be limited to the UK either, we strive to see people working for good across the globe, and are delighted that we’ve now received trademark protection across the US and EU.

Can you tell us more about the meta-trend of purpose in business, as you see it?

Investing in good causes grows your business too. In fact, many companies are using it as a major part of their business strategy – TOMS’ ‘One for One’, Warby Parker’s ‘Buy a Pair, Give a Pair’, and Bombas socks ‘One pair purchased = One pair donated’ are just a few using ‘giving back’ as part of their marketing strategy. Cause-related marketing is not just a fad, it’s the response to consumers buying with their own values and in mind.

Consumers increasingly care about where their products come from and how businesses behave, and we see lots of marketing around sustainability and responsibility, and now, giving. The trend is deepening fast, and when in January Larry Fink, CEO of the world’s largest asset manager BlackRock, published a letter saying that firms that lack a social purpose “will ultimately lose the license to operate from key stakeholders” it marked a watershed moment in the importance of authentic corporate responsibility. This applies from global behemoths to sole traders, and Work for Good is particularly focussed on SMEs that have less resource to do so.

For all the personal graft no business was ever built by the founders alone. Just as it takes a village to raise a child it takes a community of stakeholders to build a business. Without loyal customers, reliable suppliers, supportive investors, engaged communities and dedicated employees you have no business. Today, these constituencies want more from the companies they interact with. They are as interested in the story behind the business, the purpose the drives it and the positive values that underpin it. It is no coincidence that B Corp businesses, exemplars of the purpose-led commercialism, have been shown to grow 28 times faster than the UK economy. The giving mechanisms on our platform can also allow for a company’s clients/customers to choose the charities to which they donate. It gets everyone involved and motivated.

Why is it currently so difficult for businesses to give to charities?

The mechanisms currently in place just do not create a marketplace for business and charities to find each other and make transactions. It’s not just as simple as seeing a charity you would like to support, and then donating. Charities often do not even have a payment portal on their sites. The days of writing a cheque are long gone. Charities also find it hard to cut through the noise to create relationships with relevant businesses who may be interested in supporting them.

Work for Good is encouraging businesses to give in a smart way that is good for business, specifically by linking donations visibly to what they do, and talk about it with pride and authenticity in a way that will engage all their stakeholders, and inspire other businesses to follow suit.

However if you link donations to sales and talk about it you get caught by the charities acts, which prescribe that you have to bilaterally negotiate a commercial participation agreement with every charity you might give to, and the charities have risk of paying VAT on those donations.

As such it is painful to implement, and many charities have minimum annual donation requirement of up to £100,000 a year before they’ll negotiate a CPA with a business, which excludes virtually all SMEs.

Work for Good has solved this, the combination of the terms a business signs with the platform and the terms signed by any charity jointly form the CPA, allowing businesses to give to as many charities as they like in a few clicks, in any size, and without having to engage the charities direct, with both parties being entirely compliant. There is also no VAT payable by the charity.

What does “Impact” mean to you as a profit-driven company?

It’s a way to merge the profit-generation that people already strive for with the purpose of producing a specific benefit to society. We want to maximise that impact potential for businesses.

For us, the amount of money going to charities via our platform is the metric we concentrate on most. We believe that good business should have a positive impact on society. Our mission is to create a culture of business giving and therefore an increase in the amount of donations charities receive from SMEs. We also believe that giving has a positive impact on a business’ bottom line – two-thirds of businesses we surveyed reported higher profits when they incorporated giving into their business strategy.

Interested in Impact Investment?

If you want to find out more about Work For Good and their current fundraising round, visit their pitch page on Seedtribe.

Do you anyone who might consider using Work For Good for their business?

Do you know anyone interested in impact investing?

Please consider sharing. You’ll be doing good!

Our Top Female Founders for International Women’s Day

Here’s our list of the top women founders we’ve worked with over the years. Why? To celebrate International Women’s Day 2018, of course!

There are some great names and some great companies. So in no particular order, our women of the moment and their success stories so far…

Tech Women

Pip Jamieson – Founder & CEO, The Dots

pip jamieson international womens day 2018
Pip started out in the British civil service, then worked with MTV (actually launching MTV in New Zealand aged just 24). She then founded a ‘LinkedIn for creatives’ called The Loop in Australia.

After exiting this, she returned to the UK and its £76bn creative sector to replicate that success. From her houseboat by King’s Cross, she started ‘The Dots’. The company is on a mission to connect 1 million creatives this year and is going viral across the sector.

Pip is a Sunday Times Top 100 Entrepreneur, an outspoken advocate for diversity in the workplace and a champion for dyslexics worldwide.

I recently interviewed her with my colleague for The Startup Microdose Podcast. We talk about the story of the Dots, diversity issues in the workplace and its important role in the creative process, on avoiding unconscious cultural biases and on how companies like The Dots are working to create more equality of opportunity.

🎧 The podcast is not fully released yet, but you can listen to a chapter on diversity in tech here 🎧

Kim Nilsson – Founder & CEO, Pivigo

Recently named Entrepreneur of the Year, Kim has featured heavily on this blog over the years.
Kim-Nilsson international womens day 2018
Following a career in academia (including work on the Hubble Space Telescope), Dr Kim Nilsson has walked a gilded path since founding Pivigo in 2013. Pivigo has closed numerous funding rounds to propel its impressive growth – it is now the world’s largest community of data scientists.

Kat Bruce – Director, Nature Metrics

NatureMetrics is an award-winning technology start-up using cutting-edge genetic techniques to monitor biodiversity. Check out their website for more information.

Dupsy Abiola – Founder, Intern Avenue

After leaving a successful career as a barrister, Dupsy founded Intern Avenue in 2010.

Intern Avenue is a multi-award winning early stage tech company named best recruitment start up in Europe at the Techcrunch/Web Summit run Europas Award 2013. The platform connects with employers with students and graduates. It was acquired by Bright Network in December 2017.
dupsy abiola international womens day 2018
Dupsy was named as one of the most influential black businesswomen in the UK in 2013. She also successfully pitched on the Dragons Den TV series.

Julia Tan – Co-Founder & COO, Peg

The Peg platform help marketers collaborate with influential YouTube creators. They have raised £1.6m in funding to date.

On the side, Julia co-built a free, crowdsourced list of over 1000 investors. https://investorlist.co/; graduated from the Makers Academy coding bootcamp; and ran the Berlin and Rome marathons.

Food & Beverage Women

Olivia Sibony – Co-Founder, GrubClub

Olivia founded the FoodTech, sharing economy, start-up Grub Club in 2012. It’s an award-winning marketplace for unique, social dining experiences, featured in The Guardian, BBC, Evening Standard, Daily Telegraph, Stylist, Nudge, Time Out.
Liv Sibony international womens day 2018
Since exiting Grub Club late in 2017, Olivia has started as the Head of Crowdfunding at SeedTribe, Angel Investment Network’s new angel-led crowdfunding platform.

Tania Rahman – Founder & CEO, Chit Chaat Chai

Tania launched Chit Chaat Chai as a street food market stall across London and Hampshire, it has gone on to receive critical acclaim from the Independent and the BBC. The Asian Business Awards recently recognised Chit Chaat Chai as New Business of the Year 2017.

The restaurant has been featured widely across the media, including in The Telegraph, the BBC, CNN International, BBC Radio London, Hospitality Interiors magazine and in Time Out magazine, listed as one of the three best new Indian locals for 2017.
tania rahman international womens day 2018
She is a mentor for food start-up accelerators in both London and Singapore, helping young food start-ups, including as a panellist at the House of Commons empowering minority leaders in the UK workforce.

She was recognised in the British Bangladeshi Top 100, a celebration of 100 leading British Bangladeshi figures who are helping to shape a better Britain with their ideas, example and talent, and received an Honourable Mention as a Finalist in the Rising Star category at The Caterer Shine Awards 2017.

Fashion Women

Molly Goddard – Co-Founder, Desmond & Dempsey

Molly co-founded luxury sleepwear brand, Desmond & Dempsey, with her now-husband, Joel, in 2014. A Guardian Startup of the Year in 2015-16 and a graduate from Angel investment Network’s accelerator programme, the company continues to go from strength to strength. Renowned for its super-cool prints, slouchy cotton fabric and effortless tailored cuts, they’re now stocked in department stores from London to New York.

Polly McMaster – Founder & CEO, The Fold)

Polly set up The Fold London in January 2011. Her love of fashion and desire to empower women in the workplace were the inspiration to create a chic new brand for professional women.
polly mcmaster international womens day 2018
Polly comes from the competitive world of consulting and finance, with a Cambridge PhD in Molecular Biology and an MBA at London Business School. In July 2013, Management Today voted Polly one of ‘35 Women Under 35’.

It’s been a pleasure working with all of them. And we, at Angel Investment Network, wish them all the very best for the future.

Who was Entrepreneur of the Year 2017?

The Women in IT Awards, the world’s largest technology diversity event, recently revealed the winners of its 2017 programme including ‘Entrepreneur of the Year’ in front of 1,000 business and technology leaders.

It came as no surprise to us that Dr Kim Nilsson, founder of Pivigo, was ‘Entrepreneur of the Year’.

Pivigo’s upward trajectory…

18 months ago, I reported that data science marketplace, Pivigo, had closed its latest funding round (£300k through Angel Investment Network) off the back of some impressive growth.

6 months ago, I reported that Pivigo was one of the 15 fastest growing female-founded UK tech companies selected to represent the UK government in a link building initiative with Silicon Valley and the US tech scene. (The lowest growth rate of the 15 companies selected was 118% annually!).

pivigo data science entrepreneur

Following a career in academia (including work on the Hubble Space Telescope), Dr Kim Nilsson has walked a gilded path since founding Pivigo in 2013. Pivigo has closed numerous funding rounds to propel its impressive growth – it is now the world’s largest community of data scientists.

This latest accolade came at the Women in IT awards, an event aimed at celebrating diversity and inclusion in the tech industry, hosted by Maggie Philbin OBE and Martha Lane Fox.

Dr Kim was typically magnanimous in her acceptance of the award, highlighting the great work of the whole team at Pivigo:

To be chosen as the winner in a highly competitive category is great validation for the work we do at Pivigo, innovating and disrupting an exciting industry.

On behalf of the team at Angel Investment Network, I would like to extend our warmest congratulations to Kim and the team.

Keep up the good work!

If you’re a business looking to leverage the power of its data or an individual looking to build your career in data science, visit Pivigo to find out more.

7 Positives for the UK Startup Scene from the Autumn Budget

Yesterday the Chancellor unveiled his budget plan for the UK.

The main headline was that we can expect slow growth (around 2%) for the next few years. And that Brexit seemed to be the principal cause of this. A gloomy budget indeed.

But, as ever, even in the murkiest river a nugget of gold can be found. With a little sifting, I’ve found some positive news for us spirited folk on the startup scene.

The sifting was very boring. I’ve tried to set out my findings as clearly as possible. So, you can enjoy the gold without getting your feet wet! You’re welcome.

The Treasury conducted a survey called ‘Patient Capital Review’ which set out to consider how to support innovative firms in getting funding and achieving scale. The conclusions drawn are positive and will be a boon for early-stage companies over the next 10 years.

These conclusions resulted in an ‘Action Plan’ in the budget which aims to unlock £20bn over the next 10 years to support growth in innovative firms.

The main points are as follows:

1. Tax Breaks (EIS & VCT)

– EIS allowance for people investing in ‘knowledge-intensive companies’ will double from £1m to £2m each year.
– ‘Knowledge-intensive companies’ can receive twice as much EIS & VCT investment each year. That’s a move from £5m to £10m.

(Check out a previous post for more info on the benefits of EIS.)
SEIS & EIS budget
Result: An estimated extra £7bn of investment.

2. Government-backed Co-investment Fund

– A £2.5bn Investment Fund incubated in the British Business Bank will be established to co-invest with the private sector.
Result: An estimated extra £7.5bn of investment.

3. Backing Fund of Funds

– The British Business Bank will invest in a series of private sector fund of funds.
Result: An estimated £4bn of investment will be unlocked.

4. Backing Fund Managers

– The British Business Bank will continue to back new and existing fund managers through its existing Enterprise Capital Fund.
Result: An estimated extra £1.5bn of investment.

5. Backing overseas investment into UK

– The Department of International Trade will support overseas venture capital into the UK.
Result: An estimated extra £1bn of investment.

6. Support for Regional Investment

– The British Business Bank will establish new investment programmes to support business angel groups outside of London. This will complement existing programmes like the Northern Powerhouse Investment Fund and the Midlands Engine Investment Fund.
– £21m is budgeted to expand Tech City UK’s reach across more regions.
Result: Unlocking of investment potential outside of the London hub.

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7. Other

– British Business Bank to investigate supporting Women Entrepreneurs getting access to equity investment
– £2.3bn increase in R&D spending
– £1m Games Fund to support video game development
– Helping Pension Funds invest in innovative firms
– Qualification for Entrepreneurs’ Relief will no longer de-incentivize accepting external investment

I hope all that makes sense.

It’s pleasing to see that, in difficult times, the government recognises the importance of supporting the innovation sector as a key driver of our economy.

If you want more detail on this Action Plan in the budget, I’ll be at the UKBAA National Investment Summit on 28th November. Keith Morgan CEO of British Business Bank will be leading the discussion on the Chancellor’s proposals.

You can get tickets here

Hope to see you there!

Free Access to Europe’s Biggest Business Show with Angel Investment Network

Angel Investment Network are proud to announce our latest partnership with the Business Show. As part of this, we are offering complimentary tickets to their London event on 16th & 17th November 2017. For more information and to claim your tickets please see the article below by Shane Ransom, Senior Marketing Manager at PRYSM Media Group:

Overview

After 19 years of running, PRYSM Group are proud to announce the 38th edition of The Business Show will be kicking off on the 16 & 17 November at London’s Olympia.

To anybody who has attended the show, it will come as no surprise that it has firmly established itself as Europe’s largest event dedicated to helping startups and SMEs successfully evolve or expand their businesses.

Due to the show’s sterling reputation within the B2B events community, 25,000 tenacious entrepreneurs and business owners will flock to The Business Show. All on a mission to source the latest services, solutions and strategies to take their business to the next level.

World-renowned Speakers & Business People

Renowned for acquiring a calibre of attendee unmatched by any rival show; over the years the exhibition has attracted industry legends looking to discover the latest business innovations to stay ahead of their fierce competitors. This list includes James Caan, Lord Alan Sugar, Peter Jones, Touker Suleyman and many more.

business dragons

The Business Show continues to be at the forefront of all other business exhibitions, from Apprentice winners to a plethora of dragons from Dragons’ Den, from the head of B2B marketing for Google UK to even the chairman of Crystal Palace F.C, our show consistently attracts the industry’s most relevant speakers and – as you can see – November’s speaker lineup is no exception.

See full keynote line-up here

Learn how to Grow your Business

With 350 visionary exhibitors showcasing the latest products, systems and services transforming the business world, our show allows more SMEs and startups to connect with more sought-after suppliers than ever before.

Every one of our 250 seminars features up-to-date content, based on current UK business trends. We have attracted a vast array of world-class speakers working within the health and fitness industry – a sector that has grown in popularity over the years – including; Peter Roberts, the founder of the largest gym operator, PureGym; and founder of LA Muscle Parham Donyai.

Our phenomenal lineup of speakers also consists of success stories that would inspire any ambitious business owner. Levi Roots will be here to provide you with the insights into how he became one of the most iconic and charismatic figures in business world. James Gold, co-founder of Skinnydip, will discuss how his creation of the phone case accessory helped him develop one of the most successful privately-owned companies of this generation. Ben Towers, who has been named by Richard Branson as “one of the UK’s most exciting entrepreneurs” will share his journey to becoming a multi-award winning business owner by the age of 19.

Business Show_Olympia_Main

Your Free Ticket

Your ticket grants you access to more than just the seminars and suppliers. November’s instalment of The Business Show will play host to an endless array of features including the Google Digital Garage; which offers free digital skills training to people looking to grow their business, their career or their confidence online. If you register for a free ticket, you can even book a one-to-one mentoring slot with the world’s most influential business via our website, but you need to make sure you book in advance!

Over the two days visitors will also have access to 15 masterclasses; whether you’re looking to expand your knowledge of branding, digital marketing, e-commerce, trading or franchising, we have got you covered. You will gain all the information and guidance you need to achieve the business growth you desire.

To ensure you make the most out of your visit we have split the show into six different zones; the Startup Zone; the Marketplace; the Finance Zone; the Digital Zone; Going Global Live; and for the very first time, the Legal & HR Zone. These zones have been carefully crafted to provide expertise across all sectors of the business world.

To top it all off, the show offers visitors unrivalled networking opportunities; our Speed Networking Feature located in the SME Zone allows you to make 40 new contacts in just 40 minutes! It is the quickest and most efficient way for you to add potential suppliers, clients and partners to your contact list, but seats to this free feature are first come, first serve so make sure you get there early to secure your seat!

business show tickets

If you’re looking to start, grow or expand your business then you must register for a ticket to The Business Show, and you will have an opportunity to experience an exhibition like no other. Attending this event could define the future of your business, so what have you got to lose? Register for your free ticket now!

Click here to register for your complimentary tickets

Thanks to Shane Ransom and the team for writing this post.

Hope to see you there!

Sceptic to Champion: Air Ticket Arena on Angel Investment Network

Fundraising on Angel Investment Network – A User Story:

Kresimir Budinski first reached out to me through LinkedIn. He is the founder of Air Ticket Arena – the first fully-automated platform allowing passengers to bid for unsold seats on scheduled flights; and helping airlines to recuperate some of the £120 billion in lost sales each year through unsold seats.

He recently closed a £350,000 of seed fundraising through Angel Investment Network.

Kresimir, or ‘The Bishop’, as he is affectionately known by his team, complimented me on my article about SEIS & EIS Tax relief. He had apparently used it as an explainer throughout his fundraising. Both for investors he had found through Angel Investment Network and other channels.

I thanked him and wished him luck with the fundraising. And we left it at that.

Messages like this are relatively frequent (depending on the quality of my article!). So I didn’t think any more of it.

But I was to hear a lot more from Kresimir and the story behind his fundraising. A few months later, pleased with his progress (now overfunding), he shared his fundraising experiences with me in full. It struck such a chord that I had to share the story.

It’s a tale of how courage through scepticism can bring great opportunity. And it’s a useful case study for anyone considering looking for investors on the Angel Investment Network platform, and more importantly, for anyone fundraising in general.

So, in the charismatic words of their Head of Marketing Grgomir ‘George’ Garić, the story of Air Ticket Arena’s fundraising journey from intense initial scepticism to success….

Air ticket arena fundraising

Part 1: Fundraising Scepticism

I had always considered investors a type of mythical creature, living somewhere in a distant fantasy land, creasing themselves with derisive laughter at most investment proposals. By investors, I mean real investors who can offer advice as well as capital. Not just people who masquerade as investors because they have a bit of cash.

Of course, I had heard about the likes of Facebook, Uber, Airbnb, and hundreds of other projects backed by investors – but I had never met anyone who would actually boost my bank account.

Except for my wife, of course.

In my life before Air Ticket Arena, I had met many who claimed to be investors. But few of them understood the symbiosis required between entrepreneur and investor to make a partnership mutually motivating. The interaction between idea and capital needs to be good for both the idea and the capital. The idea needs to grow and so does the value of the capital.

Too many investors wanted to buy into projects at way below the value of the idea and all the preceding hard work. They refused to realise that this was not optimal for the business and therefore not optimal for their investment.

Given these early experiences with “investors”, my approach to any kind of investor was always going to be like visiting an 18th-century dentist. Suspicious in the extreme.

Part 2: Misplaced Hope

So, when I started working on Air Ticket Arena and Kresimir, suggested fundraising our seed round through Angel Investment Network. I thought it was the beginning of the end.

I sincerely believed that Angel Investment Network, despite their 13-year history and impressive track record, was just another portal where anyone – even my mother – could masquerade as an investor.

So why did we go with them?

Sometime in 2009, a seemingly beautiful thing happened. Kickstarter kickstarted. This was the first time I had heard about crowdfunding.

The theory seemed inspired to me. This was a real innovation in the investment scene which promised a more efficient process for both investors and entrepreneurs. And promised to harness the power of the crowd with all the social proof that can bring.

Then equity crowdfunding platforms like Crowdcube and Seedrs emerged. Icing on the cake. Or so I thought.
Fundraising through crowdfunding

I had heard complaints about these platforms from founders who had tried them. But I dismissed them as over-fussy.

When Kresimir asked me to prepare a crowdfunding campaign on Crowdcube for Air Ticket Arena, it was a joyous occasion and I dove into the work with relish.

We prepared almost everything for the campaign and then one week before the launch, Crowdcube refused us. Their reason? We didn’t have a high street bank account. Right.

Not to be deterred, we immediately approached Seedrs hoping to re-purpose the material we had put so much effort into for the Crowdcube campaign. After a 15-minute call, they claimed that our valuation was too high to run.

My high hopes were thoroughly misplaced and I found myself floundering in a sense of gloom about the prospects of fundraising. Not simply for myself, but also for other regular people who do not have access to investors through their personal network.

It was in this state of despondency that Kresimir insisted we chance our hand on Angel Investment Network. You can imagine my reaction.

I already considered this platform inferior to the likes of Crowdcube and Seedrs who had just thoroughly disappointed me.

Thus, it was without much hope and intense reluctance that I agreed to create a pitch on Angel Investment network…

Part 3: Faith Rewarded

fundraising

Six months later, we have raised £350,000 and filled our seed round. The strength of the discussions means that we are now overfunding as I write this.

At this point, while we enjoy the security of fundraising mission accomplished and while the experience is still fresh in our minds, I thought it might be helpful to share some key findings from our campaign on Angel Investment Network.

– Are the investors active and real?

Most of the investors we spoke to were active and engaged in the investment community and had the capital to invest. Even those investors who did not ultimately invest provided useful feedback for us with which we were able to improve our pitch and even our business. The platform also monitors the activity of investor users. Anyone suspicious is removed pending investigation.

– How can I tell if an investor is really interested?

It will be straightforward to identify investors who are seriously interested. They will have read your pitch in detail and will ask the most pertinent questions so will stand out from the others.
It is also very important to do your own due diligence of any investor contact – you can be sure they’ll be doing it on you. So, don’t be afraid to ask people to identify themselves if their profile is not clear.

– How can I keep prospective investors interested?

When you are happy that a prospective investor’s interest is genuine, engage in dialogue with them in a clear manner. Your job is to clarify what you have written in your deck. Keep focused on it. Try to also give the impression of progress and momentum – update investors you’ve not heard back from as well as ones you actively talking to.

– What should I say about valuation?

Avoid any talk about valuations after a one-minute talk or a first email response. Send an investment package and give them up to a week to investigate the opportunity. An excellent counter-question is to ask them how much they want to earn? None of them gave us an exact answer.
When you do come to declare your valuation make sure that your reasons for it are clear and grounded in the reality of the space in which you are operating.

– What sort of investors should I aim for?

Expect that your investors will more likely be from a similar industry to your project. If it is a project from the travel industry, then more than likely the investors will come from the travel industry. These investors will certainly be most helpful to you. However, there are many investors who are interested in investing in an area but are not necessarily experts e.g. Bankers interested in AI. So be prepared for this too.

– Do I need to have all the legal stuff prepared?

Make a clear legal pathway for investors who make you an offer of investment. Your investment contracts need to prepared and ready to send. An offer is never really finalised until all the forms are signed and the money is in your account, so you don’t want to have any delay in sending over the necessary documents when an investor declares an offer.

– How much effort is required?

Prepare to invest time and some money to ensure your pitch is as good as possible and that it gets the exposure it needs to raise the capital you need.

To be successful your pitch needs to be excellent and you need to market it well. We wrote 50+ articles explaining our concept from a variety of angles which we shared across social media channels. Angel Investment Network were very willing to re-share these posts which helped to create a buzz.

What I want people to understand from our story is that anyone with a good idea can raise money from angel investors. It requires dedication and hard work, but so does running a successful business!

At this point, on behalf of the whole team at Angel Investment Network, I’d like to thank Kresimir, George and the guys at Air Ticket Arena for taking the time to share this. All the best with the business!

Want to know more about Air Ticket Arena?

Check out their explainer video below:

Want to share your experience on Angel Investment Network and get featured as part of this user story series?

Please contact me on oliver@angelinvestmentnetwork.co.uk or on Twitter

Startup World Cup & Summit Tickets

The world-renowned Startup World Cup and Summit takes place this October (17th) in the Palace Lucerna in Prague. The event’s thousands of visitors will be treated to a fulfilling schedule of networking opportunities as well as talks and workshops from industry experts.

Startup companies

Startups who register will compete in the Startup World Cup competition with $1,000,000 USD as the prize! In addition, they will receive the ultimate conference experience: with scheduled investor meetings, opportunities to meet customers, and the chance to learn from successful, experienced speakers and mentors.

Investors

Investors can keep abreast of the latest developments in the tech world all the while getting direct, early access to the latest investment opportunities from startups at the forefront of innovation.

Students and other visitors

All other visitors can gain inspiration from the talent and expertise on display, and perhaps walk away with invitations to apply for jobs!

startup World Cup and summit inspiration

So whether you’re a startup looking for knowledge, mentorship, and/or funding; or someone who simply wants to get insight into the startup scene; or an investor looking for the next great opportunity, you are sure to find a rich, rewarding experience at this year’s SWCS.

It is for this reason, that Angel Investment Network is delighted to announce that we are partnering with SWCS. You can pick up a discounted ticket here if you are quick (we have a limited number only!).

Discount codes for Standard and VIP tickets:

Standard: Angelinvestment25
VIP: Angelinvestment25VIP

For full details, check out their website: https://www.swcsummit.com/

We hope to see you there!

Women in Tech: Success & the Future…

We recently learned that Pivigo is one of 15 of the UK’s fastest growing tech companies founded by women selected to visit Silicon Valley.

The trip is part of an initiative to build ties with the US tech scene. The other firms heading to Silicon Valley include:

All are showing an annual growth rate of at least 118%.

Pivigo is a data science marketplace founded by the remarkable Dr Kim Nilsson. Their mission is to connect “…data scientists and businesses across the world…to revolutionise the way we work, live and stay healthy.”

Dr Kim left her role as an astronomer on the Hubble Space Telescope to complete an MBA and pursue a career in business. The move was a good one.

Since she founded Pivigo in 2013 the company has:

  • Raised nearly £1m in funding (£300k through our investors on Angel Investment Network!)
  • Become the world’s largest community of data scientists.
  • Completed over 80 data science projects to date. (Clients include KPMG, Barclays, British Gas, M&S and Royal Mail.)
  • Started Europe’s largest data science training programme S2DS (Science to Data Science). The programme supports career transitions of PhDs and MScs into data science roles.

pivigo data science women

Kim’s transition from academia to top founder is part of what makes her story so impressive and why, no doubt, she was a good choice to meet with executives from Apple, Google, Instagram and LinkedIn. Sherry Coutu CBE, the founder of Silicon Valley Comes to the UK, and the London Mayor’s office made the selection.

This link building through the UK’s most talented female founders comes at a time of high interest in the role of women in the growth of the European and UK tech sectors. Figures reported by LinkedIn and Founders4Schools show that:

  • Female-led companies have helped add £3bn to the economy over the past year.
  • The number of female-led companies with turnover of £250m+ grew by 14% in the same period.

But what about women business angels?

Despite the flourishing community of female founders and executives, only a small number are using their business acumen to invest in small businesses.

As a result, the UKBAA in partnership with Angel Academe, a network of female business angels, is conducting new research. They want to understand the barriers perceived by women about angel investing. The survey is being hosted and analysed by the the CASS Business School in London.

This research is also part of a their new Europe-wide project called “Women Business Angels for Europe’s Entrepreneurs”. The project will enable them to review the situation in Europe as well as the UK.

UKBAA logo women
The results will give important insight into how, as a community, we can engage more women in angel investing. Off the back of the research, the UKBAA plans to develop a programme with the goal of doubling the number of female angel investors in the UK over the next two years.

If you’re female and involved in startups, please do your bit for this iniative and fill out the 10 minute survey here.

Thanks!