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Capital Network event showcases new companies

Published: 13th August 2003

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John Petty of Industrial Control Ltd demonstrates his distance calculating machine to Capital Network Manager Lynne Martin.

Entrepreneurs in South Yorkshire have showcased their companies at the latest Capital Network event - with the aim to attract funding and investment to expand and develop their businesses further.

Capital Network, part of the South Yorkshire Investment Fund, aims to bring together entrepreneurs seeking funding with Business Angels keen to invest in potentially successful and fast-growing businesses.
Business Angels are typically wealthy and experienced businessmen keen to lend their knowledge and finances to growing businesses.

One of several companies exhibiting was Sheffield based Industrial Control Systems who have developed an image based measurement and drawing system- 'iVcam'. Formed in 1995, the company are aiming to attract funding of £200,000 to use for marketing and to establish a team of software engineers and a sales team.

Also showcasing at the event was 1Atom who are concerned with the processing of controlled waste such as refrigerators, freezers and electrical equipment. The company is seeking a total funding package of £ 2.5 million which will include venture capital, grants, commercial loans and mortgage on property to start the business.

Other companies at the event included Avalon Commercial Enterprises; a conferencing and entertainment venue, Empire of Health; an organic food import, distribution, retail and promotion company and SUKcess; a litter collection and environmental cleaning company.

Lynne Martin, Manager of Capital Network, said: "The latest Capital Network event has been a great success. We have had a diverse range of exciting and fast growing companies who are hoping to attract investors.

"These events are an excellent opportunity for new companies to attract funding, allowing them to develop and realise their full potential."

The Fund provides development and risk capital ranging from £15k to £1m to businesses in, or prepared to relocate to, South Yorkshire. It offers two key products, one of which is loans ranging from £15k to £150k with effective annual interest rates from as little as 3% per annum.

The second product is an equity-linked package, ranging from £50k to £1m where the Fund takes a minority stake in the business.

The equity-linked package, with its competitive fees, is designed for new or existing businesses with potential for rapid expansion. Investments can be made as a mix of ordinary and preference shares or subordinated loan stock.

A unique feature of the way the Fund can help businesses is the Mentorbank project, which provides subsidised mentoring support to help management teams grow the business more profitable.

The Fund's products are designed to support businesses through critical stages of growth. From start through to major expansion, the fund will provide financial support. If a business is looking to start up, invest in new technology or equipment, enter new markets or locate into South Yorkshire it should call South Yorkshire Investment Fund first.

Editor's Notes

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).