And not just elevator pitches, but great business presentations – round the table we business angels felt it had been the strongest field for some time of businesses seeking finance.
Two in particular stood out, as very accomplished and relaxed, and who were able to answer every single question we posed, with all the answers ready off the top of the head: unlike some situations where essential questions about sales, or margins, or markets etc. leave an awkward pause, and rifling of papers!
We looked at three business seeking investment.
One was a niche Food-Drink company – at early stages with no revenue to speak off but a rather novel idea aimed at the top end of the quality food market – nationwide. We were impressed by the amount of ground already covered, the early product development, and marketing work done. And the really high quality of the answers to our questions, proved that the business owner really knew what she was doing and where she wanted to take things.
The second company was in the Health / Pharma sector. As the result of a very interesting study on a pretty common condition, some new approaches to therapy have opened up – ones that don’t involve the need for wholly new drugs with their expensive clinical trial stages, combine with existing drugs . This pitch was very early stage: funds needed for a study to explore some variants of the possible new therapy in year one; and then take it further in following years.
Lastly we saw a business in the Property management sector: an interesting combination of a Franchise supported by some clever use of Internet eCommerce technology. This was the second excellent presentation of the day: the whole pitch and the question and answers was done without reference to any paper props – and impressive command of the business was shown. This business has been in proof-of-concept stage for a couple of years, has proven it can find franchisees and grow; and is now wanting to accelerate and go nationwide in a more solid manner.
Among the KIN members round the table we had one with direct franchise experience, and another with software/eCommerce: so these two will follow-up on this opportunity.
Across the three companies, all three were felt strong enough to continue exploring: which means that for each opportunity a couple of KIN members will follow up, meet-up and get further information; that they can then bring back to the full membership and see who then wishes to invest at that point.
- What we look for, from a Business pitching to us as Angel Investors
- Helping Kent companies to grow and over-come hurdles to growth