Yorkshire Association of Business Angels Yorkshire CONCEPT Raising finance to grow your business Tuesday 4 March 2008 Crowne Plaza Hotel, Leeds Barbara Greaves Manager

Yorkshire Association of Business Angels (YABA) Started in 1995 Membership organisation Angel members (private investors) - 45 Associate members (corporate) Investment pot of c£18m in Yorkshire Supported by Yorkshire Forward Not for profit introduction service

Consider Business Angel Equity Finance Immediate cash with no security required No repayments until exit Pay dividends if agreed only when in profit Common goal to grow the business Strategic partner – support & advice Active partner at times Proven experience & credibility

What do the Angels look for ? Patented product/niche market High Growth business potential Management team Return on investment Exit strategy

What can you expect ? Someone who has business expertise and potentially has contacts in the market Possibly a syndicate of Angel investors sharing the high risk at this very early stage Angels looking for co-investment routes such as the Viking Fund to benefit from the due diligence Average YABA investment £50,000 which can leverage further finance 10% of opportunities succeed in getting investment

From prototype stage Kwik Pipe Ltd Patented water pipe lining system Needed working capital Investment in tooling & machinery £50,000– 1 Angel Investor £20,000 – Yorkshire Forward grant

Green technology GSPK Multifuel Ltd Dual fuel converter – LPG and diesel for HGVs offering lower carbon emissions and costs Finance for further product development and sales and marketing £25,000 – 1 Angel investor £75,000 – leveraged industry and grant funding

York University Spin-out RAPITA Systems Ltd Worst-case execution time software analysis tool for embedded systems used in the automotive, avionics and telecommunications industries Viking Fund and YABA co-investment in 2005 £100,000 second round funding secured in 2007 One investor said “ the academic track record of its founders is extremely impressive. Added to that is the fact that the company has already started to secure its first orders with products that will make a real cost and time saving to its customers.”

New product launch & export drive Single Use Surgical Ltd Second round funding to increase working capital Large syndicate of Angels “We’ve benefited greatly from the experience of the Business Angels which has meant that we were well prepared to manage the company’s growth,”

How to access Angel finance 2 page Executive summary published on the YABA extranet Fortnightly alert to angel members Fee £50 5 minute presentation at a YABA Investment Forum Held every other month with angels attending Fee £35 Guidelines on the YABA website

Summary Yorkshire Association of Business Angels can help you to reach 128 Business Angels in the region at one time at very little cost and Business Angels not only bring money but also skills and experience to support your business

Yorkshire Association of Business Angels 1 Hornbeam House Hornbeam Park Hookstone Road Harrogate HG2 8QT tel fax Barbara Greaves and Charlotte Atkinson