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gateway2investment scheme to be expanded to more businesses

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The gateway2investment (g2i) investment-readiness programme for London’s start-up and early stage companies is set to expand the number of businesses that qualify for funding from its scheme.

To date, only technology companies have been able to benefit from the g2i programme, and between them they have raised £16.9 million from private sector sources such as specialist investment funds, corporate investors and business angels.

However, with some extra funding, which has been backed by the London Development Agency, the g2i programme will be opened up to a wider range of start-up and early stage companies. The extra funding will enable g2i to extend its reach to start up and early-stage companies across all industry sectors in London with the exception of financial services and property development.

g2i was launched in 2005 to advise and support technology companies seeking development capital of between £50,000 and £3 million to grow their businesses. It draws on the expertise and contacts of private sector companies that form a consortium, led by Grant Thornton, to help entrepreneurs and start-up companies build robust business propositions and gain access to the investment community.

g2i companies that have so far succeeded in raising funds operate include:

• Funnelly Enough – the developer of Peezy, the flushable and biodegradable, mid-stream urine sample collection device
• BioRegional MiniMills – a clean technology system to treat ‘black liquor’, a by-product of paper pulp mills around the world
• Nova-Flo – a mechanical anti-overflow system that automatically turns off your bath taps to prevent flooding
• TekDek – an innovative composite flooring system deriving benefits from its unique design of pre-stressed steel, which allows for much greater unsupported spans in commercial buildings

Grant Thornton’s Ian Shields, manager of the g2i programme commented, “This kind of high quality support and advice would usually only be available to bigger businesses able to commit substantial funds. The real innovation of g2i is that the entrepreneurs are guided by professionals whose day-to-day jobs are working with investment companies and major corporations."

To find out more about g2i visit their website at www.g2i.org

Posted November 8, 2007