Creative and Digital Businesses Get 'Investor Ready'

A new initiative designed to help creative and digital businesses in the North West to get ‘investor ready’ has got underway this week.

The ‘Fast Company’ programme has been developed by Northwest Vision and Media, which works on behalf of the creative and digital industries in the region, in partnership with corporate development and financial investment services specialist Pembridge Partners LLP and business skills coaching consultants The Green Field.

The aim is to help small creative and digital businesses with the potential to grow to realise the value of their business and access the most suitable funding available to them.

Companies were invited to apply for the scheme following the launch event last month. Each business then had its details analysed by ‘MyMahout’, which provides a bespoke company evaluation.

Eight North West businesses were selected to take part in the programme. They are w00t!media, Mando Group, Wild Ones Promotions, The Game Creators, IQ Media, Studio Liddell, Little World Gifts, and Skylab.

The first session took part this week and saw each company undergo a business review with the panel, which will then help to inform and shape the programme. The intensive 18-week scheme will feature a mixture of bespoke one-to-one mentoring, business coaching, workshops and networking events.

‘Fast Company’ concludes in February 2010, when participants will be given the opportunity to pitch for funding to a group of VC’s, banks and other potential investors.

Paul Taylor, Director of Business Delivery at Northwest Vision and Media said: “Our aim is to connect the community of creative businesses with the world of finance, giving those companies with the potential to grow the tools to go out and access the funding they need.

“Fast Company will help these businesses to understand how investment works and what they need to think about and do to best position themselves to secure that investment. It will cover everything from financial and business terminology through to dealing with investors, and the preparation of their exit strategy. We have devised a programme tailored to meet specific issues in this sector and have brought together an experienced team to deliver it.

“This programme is a pilot and if successful, we hope to expand it in the future.”

Austen Kay, Director of w00t!media comments: “The Fast Company programme has been an incredibly helpful and timely initiative for w00t!media. Just as we’re developing our future strategy, we’ve been granted one-to-one access with digital consultants and professional investors. Under different circumstances, these contacts would be difficult or costly to secure.

“We’re about to embark on our first full day workshop and we’re confident we’ll benefit from the insight and structure this will provide. The programme is particularly suited to our business as the sector moves so quickly. It’s therefore important to keep reassessing your business plan with the benefit of experienced professional advice.”