A novel advertising concept called Streetsight was the first to benefit from the Enterprise Fellowship Scheme, receiving £10,000 in September 2011. Stefan Weniger and his business partner John Sweeney have a contract with a major telecommunications company to advertise on their roadside telecommunications boxes throughout the country. The telecommunications company gains income from each cabinet advertised on as well as getting their cabinets maintained. StreetSight Ltd gains income from businesses that want to advertise on the cabinets.
We assumed that the cabinets would be owned by local authorities but after some investigation we discovered that they are in fact the property of telecom companies. We were very fortunate to speak to a senior person at one of the big telecom companies who loved our idea and we've now signed a contract with them. Of the company's 600,000 cabinets, we estimate that between 10-20% of them are in prime locations suitable for advertising. The money we have been awarded by CEDAR is invaluable because there are substantial costs in getting the business up and running.
Hamish Symington and Tom Catchesides
Light Blue Software Ltd
Hamish Symington and Tom Catchesides were awarded £12,000 to develop their innovative business management software for photographers, called Light Blue.
Tom was working as a wedding photographer and had developed a system to run his business; enough people were impressed by it that we formed Light Blue Software to bring it to market. Three years on our software has reached v3, with a sizeable market both in the UK and around the world, and we've built a reputation for both top-notch software and excellent customer support.
We're constantly developing our software to add new features and bring it to a wider audience, and the CEDAR funding and mentoring will be invaluable for the plans we have in 2012, helping us to speed our product development and bring other people on board.
Whey Forward Health Industries Ltd
Joe Faulkner-Edwards was given £18,000 to help Whey Forward Health Industries launch their first product. Taking advantage of new whey processing techniques, Whey Forward Health Industries developed an advanced nutritional supplement, which can aid the production of the antioxidant Glutathione, which has been shown to enhance immune function. The formula will also promote bone-mineral density and reduce tiredness and fatigue.
Entering the CEDAR Enterprise Fellowship Scheme was one of my best decisions! Obviously, this financial input will give our product launch the healthy boost it needs, but perhaps more importantly, the unrivalled level of advice and expertise offered as a result will help me grow the business to where we would like it to be.
Emily Mackay of Microgenius was awarded £10,000 to progress her social enterprise idea of linking investors with people keen to install a green energy microgenerator on their property or in their community.
Microgenius aims to become the online marketplace for domestic and community microgeneration projects. It will be a place where investors can pool funds to offer capital to those installing renewable energy technologies, such as wind or hydro turbines, in turn realising environmental, social and financial benefits.
To have a team of established entrepreneurs supporting me at such as early stage, not only financially but with their time and expertise, is a golden opportunity.