Funding opportunity
The East of England Development Agency has launched an investment competition and business education programme with up to £2 million on offer for entrepreneurs with investable businesses in the East of England.
In the last two years nearly 800 businesses have used the competition, called “Running the Gauntlet”, as the springboard for business development and investment. Many have gone on to attract private equity running into millions of pounds – among them Camrivox, Compound Photonics and Short Fuze.
This year the agency is partnering with four investors: CREATE, Low Carbon Accelerator, NW Brown Group and SEP. The investment panel will be chaired by Doug Richard of Library House.
An enhanced business education programme is a further feature of this year’s “Running the Gauntlet”, aimed at getting entrants’ business plans in the best possible shape to attract investment. East of England entrepreneurs can again gain free access to The Gauntlet (normally £299), the virtual investor devised by Library House and the London School of Economics. Thereafter, over £250,000 of in-kind advice and guidance is available from some of the UK’s leading commercial organisations: Bailey Fisher, Cambridge Marketing College, Grant Thornton, HSBC, Microsoft UK, Mudhut Communication, Sagentia, Taylor Vinters and The Commercialisation Company.
Entrepreneurs can enter online at http://ww.runningthegauntlet.com until midnight on 2 September 2007. A shortlist of 50, to be announced at an event on 12 September 2007, will be invited to pitch to the panel of investors who will then select ten finalists to go forward for more detailed discussions.
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