November 2012
A team of angels set to encourage new ideas
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Fresh and exciting business ideas with the potential to turn into multi-million-pound businesses are being nurtured in Surrey, but how do you impress in a pitch of just ten minutes? With help from the experts By Pete Bryant
pete.bryant@trinitymirror.com REACTION in the first few seconds after an investment pitch can often indicate whether or not the idea will fly, and yet the preparation for this moment begins more than a month earlier. At Surrey 100 Club’s angel investment meetings, the business men and women behind groundbreaking and profit-making concepts have ten minutes to impress an audience of investors enough to attract financial support. Those hoping to be next to face the investors at the University of Surrey are first put through a free crash course in pitching to ensure they are equipped to leave the investors spellbound. Unlike BBC’s Dragon’s Den, where bumbling and fumbling characters are part of the show’s
appeal, SETsquared Surrey incubation director Sarah De’Lacy, entrepreneur in residence Ben Partridge and administration officer Joan Moore pride themselves on producing attractive pitches to bring development into Surrey Research Park. Mrs De’Lacy said: “We put the time and effort into each company for two reasons; to ensure that the company delivers the best pitch it can to try and encourage dialogue and interest following the event from the investors, and to ensure the Investors are seeing quality, investable opportunities. “Our motto is quality not quantity which is why the club has raised more than £12m over the past four years.” A month before the meeting, companies are sent a template on which to base their pitch and encouraged to communicate their
idea, experience and how much money they require. Feedback is offered, before, two
“We are making a name for ourselves in getting companies investor-ready.” weeks ahead of the meeting, the five best presentations are selected to go forward to the main event to pitch for real. Finally, following each all-important pitch is a brief opportunity to ask questions about the company, and this is the moment in which it can become apparent if the pitch has communicated the message in a clear and captivating manner. A noisy and curious audience is a good sign of this, and the
business representatives are given a second stab at winning over the investors over refreshments in the university's Lakeside restaurant. “The 10-minute presentation is a hook,” said Mrs De’Lacy. “You need to get the idea across straight away and you’re selling the fact that you will make them a lot of money. We want to make it so people come to Surrey and get investment. We’re making a name for ourselves in getting companies investor-ready.” Investment is rarely immediate, and sometimes takes six months to come to fruition, meaning the journey can be a long, but ultimately rewarding one. n See next month’s Business News Extra to see whether the latest hopefuls were able to use their ten minutes in the limelight to wow the investors.
Joan Moore, Sarah De’Lacy and Ben Partridge.
Hospital’s success due to good senior partnership
Professor Mark Saunders of Surrey Business School, Kingston Smith LLP senior partner Sir Michael Snyder, Rt Hon Michael Fallon MP, minister of state for business and enterprise, and Professor David Gray of Surrey Business School take questions at the launch.
STRONG results achieved at a Guildford hospital have been put down to the relationship between its two senior operators. Hospital director Jayne Cassidy and matron Elaine Banerjee, who both started careers as nurses more than 20 years ago, have helped Nuffield Health Guildford Hospital become one that stands alongside private hospitals in London. However, Jayne said the hospital is different to those she has previously worked at in the capital. “Nuffield Health’s business
model is unlike that of any other
“Our working relationship together is critical – so it’s great that we work well together” private hospital where I have previously worked, such as The Wellington and The Portland Hospitals in London,” she said. “As a not-for-profit organisation, any surplus made by the hospital group is put back into
improving our infrastructure, completing refurbishments and enhancing the skills of our staff.” The hospital has 200 medical specialists, four operating theatres, 50 en suite bedrooms and a four-bed high dependency unit. Elaine added: “Although Jayne is the legally registered manager with the Care Quality Commission (CQC), I need to provide her with the clinical expertise to help her to run an effective, legally compliant hospital. Our working relationship together is critical – so it’s great that we work well together and understand each other’s goals.”
Academics lead the way on SME research Revved up for relaunch ACADEMICS at the Surrey Business School have spoken of their pride at being part of a study that it is hoped will feed into government policy on small and medium enterprises (SMEs). The research study into the triggers for success in such businesses was commissioned by chartered accountancy firm Kingston Smith, and the finished report was presented at Google Campus in London last month. The launch was attended by business and enterprise minister Michael Fallon and revealed that businesses that used a range of finance options were the most successful. It is hoped that the report will encourage the government to provide working capital finance to SMEs to enable them to develop and flourish.
Professor David Gray, Professor Mark Saunders and Harshita Goregaokar, from the University of Surrey-based business school, were seen as holding the necessary expertise and were chosen to lead the study, including 13 focus groups held across the UK and 20 case studies, between May and September this year. Professor Saunders said: “It was a really exciting piece of work to do. “I think the value of the study has already been very clear. It’s very rare that you get the minister of business to come and take on board what you have found.” Surveyed were 1,000 commercial businesses with less than 250 employees from across the country. Most SMEs are started and sustained using a single source of
finance, often personal savings, however the study revealed that successful companies are more likely to use more than one. Successful SMEs were those that encouraged staff to be innovative, were willing to seek external advice and able to adapt to changing market conditions. “Businesses in Surrey can be proud of this research, which has already generated a great deal of interest,” said Paul Samrah, partner at the Kingston Smith Redhill office. “We look forward to further exploring the in-depth findings of this report through a series of seminars and presentations in the coming months, to help Surrey businesses better understand how to succeed – which, in these recessionary times, is more crucial than ever.”
Makeover for Brooklands’ clubhouse hospitality MORE than 100 guests attended Brooklands Museum to celebrate the £200,000 re-launch of its clubhouse hospitality with an evening fuelled with speedy entertainment including special guest and racing legend Tiff Needell. Food and drink specialist Creativevents has re-launched the clubhouse with a restyling of the hospitality suites at the Weybridge museum. Invited guests were welcomed into the motoring village area of the museum to enjoy a drinks reception and given the choice of taking vintage car drives around the grounds as well as boarding the famous Concorde for a guided walk through.
In keeping with the Art Deco feel of the museum, the new-look clubhouse includes the makeover of the Edwardian Napier Room with its own private balcony overlooking the Paddock. Other rooms that have been restyled include the Members' Bar and the Blue Bird Room, which celebrates Sir Malcolm Campbell’s exploits with his world-famous Blue Bird racing cars. The 105-year-old Clubhouse has also had upgrades to its AV facilities, heating and ventilation as well as a new-look reception area and corridors, and houses the public Sunbeam Café, which was refurbished two years ago. John Uphill, hospitality and
special events director at Creativevents, said: "We are delighted to have had the opportunity of working with the museum on this project to enhance the Brooklands Clubhouse. "The museum is steeped in great British history, offering event organizers a truly unique place to host exciting and entertaining meetings, parties and events. Our exclusive event packages include activities such as the Concorde Experience and the F1 Simulator. “We very much look forward to revealing our new suites to everyone and putting this fabulous venue firmly on the hospitality map.”