Watch our Engage Invest Exploit 2018 video for www.insider.co.uk
By Victoria Masterson
07:47, 20 APR 2018
Insider.co.uk spent the day at EIE18 at the University of Edinburgh and learned how to make it from tech firms, investors and advisers who've been there and done it
WATCH OUR EIE 2018 VIDEO HERE: https://www.insider.co.uk/special-reports/top-tech-companies-edinburgh-eie-12391959
It is the highlight of Scotland's tech calendar.
Engage Invest Exploit brings hundreds of investors, tech companies, advisers and business leaders together to pitch for investment and discuss new opportunities and partnerships.READ MORE
Good-Loop is an ethical advertising platform that allows businesses to donate money to charity every time a viewer watches one of their online adverts. The company is closing a £250,000 angel funding round and is hoping to reopen investment conversations in another six to 12 months.
“Perfect your story,” says founder and managing director Amy Williams. “The story of who you are and why you do what do. This is crucial to your recruitment and investment success. If you want people to join you, you need to be able to communicate your story.”
Cyan Forensics is a software spin-out from Edinburgh Napier University that helps police forces find evidence on computers. It is targeting investigations into indecent images of children and terrorism. The company has raised more than £500,000 to date and is looking to raise further funds of just under £1m.
Ian Stevenson, chief executive, says his top tip for success is: “Focus on a problem that is keeping people awake at night.”
Eventual Shared VR
Eventual Shared VR has created a platform that allows multiple people to be in the same virtual reality environment . The Glasgow-based company is looking to raise £750,000 at EIE2018.
“In emerging technology, it’s always going to be difficult because you’re finding early adopters and speaking to people who may not be tech-orientated or from an industry that’s quite antiquated,” says chief operating officer, David Hastie. “ You’re asking people to take a leap of faith – so you have to persevere until you can bridge that gap.”
Manish Singh is a private investor and chief investment officer at London-based equities and bonds investor Crossbridge Capital.
“When I look at a company, the main thing I look at is the team or the person behind the company,” he says. “It doesn’t matter how brilliant they are or what they’ve done – I have to like them. The second thing is, it’s a business, so they should think about making money. It’s not just about generating jobs, because you can run out of money and your business can fold – and as an investor, I don’t want to lose money.”
LeadPro helps estate agents make more money from email data that they normally ignore. The company is looking to raise £500,000 to scale throughout the UK and move into the US market.
“Really focus on sales – and remember that someone can always refer you to client,” says chief executive SamZawadzki. “ With every conversation, you should be trying to figure out how that can help you reach a client.”
Drinkly is an Edinburgh-based online platform that delivers beer, wines and spirits to customers’ doors within one hour. It is seeking to raise £1.5m to launch the business in ten cities.
“Don’t think you can ever make a success of a business unless you go all in,” says chief executive John Robertson. “Don’t be afraid to let go of the shore. In the early days, I was half in and frightened to commit my own money. Unless you do that, you’re not going to make it happen.”
Dunedin Solutions helps university spin-outs commercialise.
“My top tip is about the team, and the tenacity of the team,” says founder Mo Hakimi.
“You’ve got to have a clear vision to the finish line.”
Melrose-based angel investor syndicate Tricapital invests up to £500,000 in early stage and growing businesses.
“Always be conscious of what your risks are,” says chairman Jamie Andrew. “You might expect a certain sales conversion in the next quarter. But what’s the risk of you not doing that and what could go wrong? It always takes longer than people expect to close sales deals, so you need to be always asking – where is the risk in the business.”
Mark Evans is chief executive of Nomadix Media , the Uddingston-based makers of iWalker, the mobile digital advertising platform.
He says his motto is: Can’t stop – not dead. “For me it’s just about keeping going all the time and not giving up,” Evans adds
TalentSpark was set up by recruitment agency Eden Scott to help start-ups find the right talent.
Associate marketing director Ewan Anderson says: “It’s about committing to finding the right talent; not settling for second best and using every resource you can to try and find that talent.”