New campaign seeks to boost region's business success

The chances of success for the region's entrepreneurs got a significant boost today with the launch of ‘Big Fish' (www.bigfish4business.com).  This exciting campaign aims to raise awareness of the newly-extended programme of support and funding available to entrepreneurs via the East of England Development Agency (EEDA), whose role is to improve the region's economic performance and ensure the East of England remains one of the UK's top performing regions.

Big Fish opens the door to EEDA's full programme of support to all the region's entrepreneurs regardless of sector, size, aspiration or business stage - whether they just have a great idea or have started a business and want it to grow, this programme is relevant.   It includes an online diagnostic tool to help participants test their business idea, plus more tailored advice and innovative events.  New to the region will be an investment readiness programme for entrepreneurs or companies at a more advanced stage of development.  The support package, which draws on Business Link's expertise, also offers access to a network of investors - banks, angels and venture capitalists - which will complement the funding available from EEDA in the form of grants for innovative companies. 

The campaign officially launches on 6 October 2008 with an innovative Bootcamp event. This will offer over 200 of the region's entrepreneurs the opportunity to spend an intensive and fun day learning from Doug Richard, serial entrepreneur and angel investor. 

With an inspirational approach, the day takes attendees through a logical, carefully constructed model.  Drawing on his own experience, Doug Richard will help them identify: whether they have what it takes to be an entrepreneur; if their idea or business concept really has legs; what their next steps should be to take the idea forward or grow the business, or indeed whether they need to walk away.  They will learn about the potential pitfalls and how to overcome them.  An exhibition and networking area will enable them to meet Business Link advisers and find out more about the wealth of support, advice and helpful introductions the ‘Big Fish' campaign allows them to access.

Doug Richard said: "More businesses start in the East of England than any other region. Innovation is in the air here so the Bootcamp promises to be both inspiring and revealing.  There are spotlight opportunities for entrepreneurs to test their idea or business against scenarios on stage so it's really interactive.  I look forward to meeting a good many of the region's entrepreneurs and to helping them tackle the challenges inherent in starting or growing a business." 

Richard Ellis, chair of EEDA, "We are excited about the potential for Big Fish to drive take-up of our new programme of support for entrepreneurs.  Big Fish builds on the success of ‘Running the gauntlet' - which EEDA has run for the last three years.  We've listened to feedback so the new programme is more focused on the individual needs of each entrepreneur or company.  It offers more opportunities to learn and network, and will also help entrepreneurs identify and access the funding that best meets their needs.  Entrepreneurs will be able to progress through the support programme at their own speed, drawing on the advice and help they need at each stage in their development."

The new programme is a journey that can be travelled in its entirety or in part depending on the entrepreneur/company's stage of development. The journey begins with a powerful online diagnostics tool helping participants test their idea or business.  It also maximises the knowledge and experience of selected Business Link financial advisers, who will in turn signpost participants to sector specialists.  

For companies concertedly looking to grow, more in-depth and tailored support is available including small group workshops on everything from business planning to intellectual property. 

There is a community of investors attached to the programme, which includes banks and other loan providers, angel investors and venture capital funds as well as EEDA's Finance for Innovation team.  Organisations currently signed up include CREATE, Cambridge Angels, Foundation East, Close Ventures, Cambridge Capital Group and HSBC but the funds/contacts are expected to grow as the campaign progresses. 

EEDA's new investment readiness programme (coming on stream in early 2009) will prepare entrepreneurs to pitch for investment, helping them to access the right funding at the right time for their stage of development.  Members of the Big Fish investment community will review business plans on a regular basis but pitches will only take place when the time is right i.e. when a company is deemed ready.

To sign up for the Bootcamp with Doug Richard and/or wider programme http://www.bigfish4business.com/register.asp.  Places are limited.  To view a video detailing why entrepreneurs should attend the Bootcamp, click here.