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Nine Entrepreneurs from Norfolk on Target for Share in £1M Funding9 Norfolk based companies shortlisted for East of England Development Agency's £1m 'Running the Guantlet' business competition Congratulations to:
Nine businesses from Norfolk, 18% of the total, have made the shortlist for the East of England Development Agency's (EEDA) 'running the gauntlet' competition. They will compete for a share of £1m investment funding on offer from CREATE, a leading investor in East of England businesses. 387 companies from all over the East of England registered for the competition and 221 submitted their entry. The short list totalling 50 companies was announced by Boyd Mulvey of CREATE and Doug Richard of Library House - co-chairs of the 'running the gauntlet' judging panel at an event held today (27 September 2006) at the Imperial War Museum, Duxford. 'Running the gauntlet' is led by the EEDA in partnership with leading East of England investor, CREATE and Library House, the company that devised The Gauntlet, the virtual investor at the heart of the first phase of the competition. 'Running the gauntlet aims to equip entrepreneurs for growing their business and securing funding. The £1m investment fund from CREATE is further enhanced by over £250,000 worth of advice and in-kind business services from sponsors: Bailey Fisher Executive Search, Grant Thornton, HSBC, Mudhut Communications, Scientific Generics, Taylor Vinters and The Commercialisation Company. The 50 short-listed companies will now benefit from a series of master classes, clinics and workshops delivered by sponsors covering issues such as business planning, intellectual property, funding and team building. Each company will then pitch to investors on 18 October 2006. The final ten will be named on 1 November 2006. The four winners will be announced at EEDA's Ideas Exchange event on 14 November 2006. Richard Ellis, chairman of EEDA said: "This is an exciting time for everyone involved in 'running the gauntlet' and I am delighted to see the range of companies going to the next stage. There has been a greater emphasis on learning in this year's competition programme so all entrants have gained regardless of whether they are progressing to the next stage. With advice from our sponsors, the short listed companies will now refine their business plans and gain from a wide range of advice in preparation for pitching to our panel of investors next month. I wish them all the best of luck." Boyd Mulvey, co-chair of the judges and chief executive of CREATE said: "The standard set by this year's entries has made the short listing process very hard. I am delighted by the quality and diversity of the companies we have selected and look forward to meeting the people behind them in the coming weeks." Doug Richard, co-chair of the judges and chief executive of Library House said: "Once again 'running the gauntlet' has attracted a wide range of companies - as you would expect from a region with a strong track record for innovation. I share CREATE's anticipation for the pitch meetings ahead and feel sure that some exciting investment opportunities will emerge." More info: Nicholas Boole, 'running the gauntlet' press officer, EEDA Tel: 01223 484564 e-mail: nicholasboole
Posted: 28th Sep 2006 |
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