Young entrepreneurs receive financial support
Press Release: A group of young entrepreneurs at the University of Hertfordshire Angels event were voted by a live audience to win £1,000 investment for their business, Findmyhouse.co.uk, in a Dragons’ Den style competition hosted by Ruth Badger, a former contestant on The Apprentice.
Pitching last week in front of over 400 people, three business start-ups (made up of staff, students and alumni) had ten minutes to present their idea and answer probing questions from four Angel Investors, who are locally established entrepreneurs – ready to invest their money into a new enterprise for mutual benefit.
Acting as the ‘5th Angel’ via an innovative remote voting system, the audience awarded £1,000 to Business School students Mohammed Ali, Nathan Ghann and John Gyeni who presented Findmyhouse.co.uk, a website that allows students to view properties available in their University town. They pitched for a £15,000 investment to implement virtual tours on their website so students all over the world can view potential properties before they start University.
John Gyeni, Founder and Financial Director of Findmyhouse.co.uk, said; “It is fantastic that we won by the audience’s vote, it shows that the local community recognise the viability and need for our business to exist. The University of Hertfordshire has proven that it is committed to the development of entrepreneurs and creating clear cut opportunities for its Staff and Alumni. I haven’t seen any other University give this kind of outreaching support.”
Ruth Badger opened with a key note speech, offering business start up advice, motivational thoughts and an insight into her time on The Apprentice, followed by a lively Q&A session with the audience. Ruth stressed the importance of a good education, although she did not attend university herself, she is supporting three of her team as they study for a degree.
“Under promise and over deliver” was Ruth’s advice to entrepreneurs. She described how she started at the age of six when buying rubbers for no more then 10p and selling them at school for £1, which eventually led to expulsion from her primary school. Ruth agues that entrepreneurs are bred rather then born and suggested that “success is measured by the failures it has lived through.”
Ruth could not express her own opinions on the business pitches as she continues her support for entrepreneurial activity at the University of Hertfordshire in May when she will sit on the judging panel for Flare, the University’s business ideas challenge. Flare will take place, for the second year running, at London’s Tower Bridge with a prize fund of over £25,000 up for grabs.
Tobi Alli-Usman, UH Angels project manager at the University of Hertfordshire, said: “The UH Angels event was a huge success. Students and alumni have been inspired to start work on their own idea for next year and a number of experienced entrepreneurs have e-mailed to say how much they enjoyed the event and would like to be involved next year.”
The Angel investors were: David Richards, a business angel since 2003, specialising in the telecoms and media sector, Simon Gall, a serial entrepreneur who has co-founded multiple companies, David Wallder, the CEO of Wallder Consulting and finally Tim Parfitt, Managing Director of Netcel, a St Albans-based web development agency he started after graduating from the University of Hertfordshire Business School. Netcel employs 20 web professionals and has a turnover in excess of £1million.