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Capital Network event showcases new companies

Published: 7th October 2003

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Graham Roberts of Everywhere! Broadband and with Capital Network Manager Lynne Martin

Entrepreneurs in South Yorkshire have showcased their companies and creativity at a Capital Network event - with the aim to attract funding and investment to expand 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 business people keen to lend their knowledge and finances to growing businesses.

One of several companies exhibiting was Everywhere! Broadband, a company providing high speed broadband internet access via satellite - aimed at those people who currently have no access to broadband.

Only about 50 per cent of the country can link up to broadband, limited by the extent of the land network. But by using satellite access, Everywhere! Broadband will provide an affordable broadband service to reach every home and business in rural and town areas - the 'Broadband desert' - affecting much of the UK not connected to the planned broadband network.

Run by directors Graham Roberts and Matt Child, the company is seeking a funding package worth £235,000 to finance new personnel and a sales and marketing programme.

Also showcasing at the event was Sheffield based LNT Heartsmart, a company developing a range of critical care monitoring devices on a new computer platform which includes a revolutionary method of Haemodynamic Monitoring. The company is seeking a total finance package of £850,000 to establish final prototype specifications, compliance and sales.

Other companies showcasing at the event included Single Use Surgical, a company who produce single use surgical instruments, Merlin 360 International, a security systems company and Intelecsys Energy, a company involved with the efficiency and control of electricity

Lynne Martin, Manager of Capital Network, said: "The latest Capital Network event has again proved to be a great success. The event gives fast growing companies the opportunity to take their next step forwards, by linking them with those who are keen to invest.

"The events are very good for the economy of South Yorkshire; an area increasingly attractive to those wanting to locate businesses."

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).