"Pitch Perfect" - Funding Opportunities for Small and Medium Enterprises in Northwest Wales

Jane Lambert

In Resources for Inventors and other Startups in Northwest Wales 5 Feb 2019 NIPC Inventors Club I mentioned the Menai Science Park ("M-SParc") at Gaerwen in Anglesey and funding from the Development Bank of Wales. I did not, however, discuss other funding opportunities.

Coinciding with the science park's first anniversary, M-SParc's Enterprise Hub will hold a pitching event known as "Pitch Perfect" in conjunction with Be the Spark on St David's day between 17:00 and 19:30.  The organizers describe this event as "an evening of opportunities to pitch, chances to wow secret investors, the tools to vote on other pitches, and get feedback on your idea. It's not just for those who want to pitch; this will be an event you don't want to miss."

According to the Eventbrite card, there will be three pitching opportunities:

• "FLASH PITCH - Two pots of funding up to £1,000 are available ON THE NIGHT for you to take home! Choose a flash-pitch ticket below and you'll get (around) 3 minutes to convince a panel of judges and the audience that you deserve that cash."   
• "STUDENT PITCH - If you are a student at Bangor University this ticket will provide you with a 3-minute slot to pitch your business idea to the same panel and audience to gain valuable feedback. One of you will also walk away with £500! Spaces for student pitch are limited....." and
• "INVESTOR ‘BIG PITCH’ TICKET: Each pitcher will be given up to15 minutes to pitch, and the chance to gain valuable feedback on the night from audience members and industry professionals. Your pitch will be assessed by Business Angels, giving you the perfect opportunity to practice pitching and an amazing chance to be spotted and put in front of someone who could offer you and your business lifechanging investment!"

A similar event seems to have taken place in Cardiff on 17 Oct 2018 (see £100k of Equity Investment Successfully Secured at First Pitch It Wales Event 22 Oct 2018 on the Be the Spark website.

Readers should be aware that there are three kinds of funding for startups and other small and medium enterprises ("SME"):

• grants
• debt, and 
• equity.

Grants are gifts though they may be subject to conditions.  These are available from some national and local government agencies as well as charities and other foundations in the private sector.  Debt funding means loans that have to be repaid usually with interest.  Equity is investment in return for shares or some other stake in a business.  There are no hard and fast rules but debt is usually a good way of raising working capital and equity is for making long term investments.  

Lenders and investors will want to be sure that any intellectual assets upon which a business relies are properly protected. They will also want to make sure that their loans or investments are secured by properly drafted agreements.  Except perhaps for the amounts available under "Flash Pitch" and "Student Pitch" funds it is essential for both sides to access competent, specialist legal advice.

Anyone wishing to attend Pitch Perfect should register through Eventbrite.  Those wanting to discuss this article or the legal issues mentioned herein may call me on 020 7404 5252 during office hours or send me a message through my contact form.