Case Study: Newsplus Media Technologies Ltd
Published: October 2007
Newsplus Media Technologies Ltd is at the forefront of creative 3D technologies in Sheffield having produced animated adverts and displays for a number of high-profile companies. It has spent three years consolidating its position in the market and now has designs on expanding its operations after receiving investment from SYIF’s Seedcorn Fund.
The main thrust of the Omega Court-based firm is to expose creators and advertisers to the potential of an animated 3D display. At the forefront of technological advancement in the creative industry, the company sees real, natural images as an exciting new medium with the ability to capture the imagination of advertisers and consumers alike.
The primary focus of Newsplus is to develop a new aspect of its cutting edge technology - a bespoke computer generated imaging solutions package, for a range of local and national companies for use in advertising, conferencing and other high impact applications.
Managing Director Malcolm McCormick, said: "The package is an exciting new technology that captures people’s attention and is a valuable tool, particularly as a point-of-sale technique. The challenge is to set the creative juices flowing and expose people to the potential of this technology in various industries where moving 3D imagery can have the biggest impact on specific audiences."
South Yorkshire Investment Fund provided Newsplus Media Technologies Ltd with a £97,500 Seedcorn investment in three instalments to help the company develop its bespoke technology, scan the market for potential opportunities and provide support for expanded sales and marketing.
SYIF’s Deputy Chief Executive Jonathan Dixon worked closely with Malcolm to advise and support the company through its expansion.
He said: "The investment means that a Sheffield company at the cutting edge of the creative technology industry can grow with the developments of its market and maintain its position as an innovative firm providing unique services. It is precisely the type of company in which SYIF’s Seedcorn Fund is keen to invest and we are delighted to help Newsplus Media Technologies evolve with its industry."
"Newsplus has the capacity to develop unique moving images from video footage to various specifications and in such a fast-moving industry it is a significant step to be able to expand resources in line with that growth."
The Seedcorn Fund has been established as a pilot to test ways of financing innovative businesses to take new technologies to market. The Fund aims to invest £4.6 million into early stage technology and knowledge-based businesses over the next two years.
Filling a significant gap in the financing market, the Seedcorn Fund will benefit ventures which may be seen as too high risk by mainstream investors, offering a secure future for innovation in the region.
Latest Case Studies
About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).