Fast Company is hosting a best VC blog contest. Be sure to vote for your favorites. Hint. Hint.
Remember, it *is* Christmas after all…
(Tip o the hat to Jeff Nolan.)
There was a heated debate on Day 2 of the event regarding the cost/benefit of Public funds supporting “Investment Readiness” programs. Many felt that there was a high cost per participant when measured by success in raising equity finance. Others clearly felt that the benefits were broader than simply the number of companies that received funding after the Ready4growth workshop.
I was particularly impressed with the statistics: 36% of all companies attending the Ready4growth program in the UK raised equity finance. This number was 14% in Spain and roughly 3% in Greece. As a point of reference, approximately 5% of all businesses that approach the London Business Angel network receive funding. One could draw the conclusion that by attending a Ready4growth workshop (which were free to participants), a company could expect to be 7 times more likely to raise equity finance. Those are exceptional statistics.
At London Business Angels we run a mini 2-day training program before companies present to our network of Business Angels. We have significantly higher success rates for entrepreneurs raising finance through our network than through other networks throughout the UK. I was pleased to see that these same success rates were repeated on a wider scale as a result of the Ready4growth program.
As with all good things, the pilot program for Ready4growth has ended, but the materials and methodologies developed will be used in future programs. Because this was a dissemination event, attendees were encouraged to take the program, adapt it to their country and run the Ready4growth program for entrepreneurs in their own respective countries.
February 14th 11.00 to 17.00 as part of 3GSM World Congress:
Each session will contain 6-8 pitches, each company will have
five minutes to pitch to the panel of industry experts or ‘judges’.
FREE to Apply – Submission Deadline Friday 7th January 2005
3GSM World Congress 2005
14th-17th February 2005, Cannes, France
I will be in Brussels for the Ready4growth dissemination event tomorrow and Tuesday. More info about the event, Investment readiness: Addressing the SME Equity Gap, is available here. I will blog my notes on the event once I am back in London on Wednesday.
It should be a good pan-European view of early-stage companies and the unique challenges they face.
For those available in the Jacktown area next weekend, my friends are hosting a Holiday Showcase at the Capri Theater on Saturday. This is one of many future events to be held at the Capri, as they attempt to restore it, slowly but surely, back to its original grandeur. This will be the first show of live music to play at the venue, so they are pretty excited about it. Help spread the word as we work to bring something good to the Fondren and Jackson community.