Friday, 3 June 2005
Entrepreneurs invited to find out how investors think
The service, which is called 'The Gauntlet', was developed by research and data services company Library House and the London School of Economics (LSE).Doug Richard, chairman of Library House, said: "Entrepreneurs are at a huge disadvantage. They don't understand investors' needs, and they have no means of learning or preparing except by being rejected by investors and losing the opportunity for investment. The Gauntlet changes that."The makers of the service say a year was spent researching top entrepreneurs and successful venture capital firms. The assessment criteria used by the Gauntlet revolve around 16 key interrogation points across four key themes - the innovation, the team, the market and the investment.Neil Gregory, director of business and enterprise at LSE said: "Innovators are visionary and investors are realists. What makes the Gauntlet powerful is that it lets every innovation business in the country help themselves at a critical juncture in their development, based on tried and trusted research."The service costs £199, but businesses based in the east of England are being offered the chance to use the Gauntlet free by entering a competition run by the East of England Development Agency.Ten firms that reach the shortlist will also get the chance to pitch to a panel of investors for a share of £1m investment and business services worth £100,000.
- To find out more about the Gauntlet visit www.the-gauntlet.com.
- Firms in the East of England can find out more about the competition by visiting www.runningthegauntlet.com.
(c) Business Hotline Publications Ltd 2005Back