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TSS 2011 Fresh Finance Tom Wood 18 October 2011
1. Tom Wood
CEO - Clifton Cowley
@woodtom
Fresh Finance
Tech Startup School 2011
Wednesday, 19 October 2011
2. Rapid growth of the group through:
Cross-sell
Existing trading leverage
Revenue share deals
Wednesday, 19 October 2011
3. Clifton Cowley Group
Overview
• We have 90 staff
• We operate from 7 offices worldwide
• We have over 1,000 Clients
• We export our services to 22 Countries
• In 2010, our turnover was £9m
Wednesday, 19 October 2011
6. Organic
Dick Newell
• Cambridge Interactive Systems (CIS) 1977 - Nasdaq float
• Smallworld Systems - Sold to GE
• Both organically funded through client & product sales activity
Wednesday, 19 October 2011
7. Organic
Benefits
• Tends to focus the mind on core business objectives
• Consider a blend between professional services and product
(37 Signals etc)
• Fundraising is sexy - don’t get drawn in!
• Possible in more cases than you might think, but...
Wednesday, 19 October 2011
8. Banks
Really!
• Still lending with the right business model & track record
• Well worth paying for the right support - you’re not an FD!
• Acquisitions come with trading history and relationships
Wednesday, 19 October 2011
9. ‘Soft Money’
Friends, Families, Angels
• Choose the right people with the right contacts & interests
• Be aware the source is likely to be finite (no follow-on)
• Be cautious of friendly support - seek constructive criticism!
Wednesday, 19 October 2011
10. Grants & Incentives
• R&D Tax Credits once NI being paid
• TSB, FP7 - beware these are biased towards industrial partnerships,
find someone bigger than you
(Morgan/Riversimple etc)
• Use a specialist - success fee basis
Wednesday, 19 October 2011
11. Venture Capital
• Small part of the PE market
• Finding funds harder to raise - LP’s tightening belts
• Return terms shortening
• Right VC can be fantastic for contacts & support
• Don’t get distracted beauty parading
Wednesday, 19 October 2011
12. Crowd Funding
Thoughts
• Ideas are funded if they have a market
• Innovators are their own PR machine
• Innovators retain equity in idea and business
Wednesday, 19 October 2011
18. CO-FUND.ME
Difference
• Rest of World crowd funding platform
• Product only focus - Design, Innovation, Technology
• Pre and Post Project support from Partner Network
Wednesday, 19 October 2011
19. CO-FUND.ME
Why RoW Focus?
• There is modern innovation outside the United States
• Aim to help support innovation growth worldwide
• Initial UK launch as it has a heritage of innovation
Jonathan Ives James Dyson Sir Tim Berners-Lee
Wednesday, 19 October 2011
