Innovative entrepreneurs in air traffic control and sports bras won interest from investors at a Dorset Business Angels pitch event.
The early-stage companies secured the support following presentations in front of potential backers and guests at the Ellis Jones Solicitors sponsored showcase in Bournemouth.
Dorset Business Angels (DBA) provides private equity opportunities for high net worth (HNW) individuals and sophisticated investors (SI), bringing them together with businesses and entrepreneurs in the south.
Eight angel investors expressed interest in the Software as a Service (SaaS) air traffic management digital platform for regional and military airports. The business was seeking to raise the remaining of £300,000 of a £500,000 target to roll out exciting growth plans.
Seven investors expressed interest in a second company aiming to raise £200,000 to further grow sales of its revolutionary bra for high-impact sports.
Now lead angels have been appointed for due diligence and the next steps of the investment process.
The pitches and investors’ dinner followed Dorset Business Angels’ annual educational event – this year’s was a lead angel investor workshop – at Bournemouth Carlton Hotel.
The day was sponsored by regional law firm Ellis Jones Solicitors. Senior associate solicitor Diane Pearce and Associate solicitor Clementine Saulnier gave a presentation during the workshop on the importance of articles of association, the need for bespoke articles in some cases and shareholder agreements.
DBA chairman Don McQueen said:
“Both the workshop and pitch event were hugely interesting and enjoyable.
“The workshop provided the opportunity for angels with some experience to benefit from the advice and expertise of others who have significant understanding and skill built up over many years.
“The pitch event delivered such diversity of opportunity to angels. The two pitches that gained interest were so very different in their product offering, yet both demonstrating strong potential for growth and innovation in their respective markets.”
Ellis Jones has 178 staff including 24 partners in seven offices across Dorset, Hampshire and London, including a specialist team of business solicitors expert in a wide range of legal matters. It has been a DBA sponsor since 2019.
Nigel Smith, managing partner of Ellis Jones Solicitors, said:
“It’s important to support entrepreneurs and start-ups.
“We like to be involved with them in the early stages of their business journey and stay with them to help them grow and become successful.
“Our long-standing partnership with Dorset Business Angels also allows us to give the next generation of businesses a helping hand.
“We’re pleased that the latest workshop and pitch event were so successful, with some exciting investment opportunities. It’s wonderful to see the entrepreneurial spirit flourishing in Dorset and the south.”
Ellis Jones has previously acted for, and supported, an applicant on BBC2’s Dragon’s Den programme. Spencer Turner from Tegstove successfully pitched his cutting-edge camping stove to the dragons and was backed by Peter Jones. Ellis Jones acted as legal advisor for Mr Turner during negotiations with Mr Jones.
DBA holds pitch events four times a year with five businesses pitching for investment per event.
Its workshop this year aimed to improve DBA close rates with good investment opportunities; have more consistency in the follow-up process; improve communication with pitchers and interested angels after events; train and support more DBA lead investors, to reduce reliance on DBA directors; and initiate a named group of ‘qualified lead investors’.
Those presenting at the workshop were DBA chair Don McQueen, guest angel investor Hugh Smith, DBA vice chair and chair of the screening committee Frank Guinn, DBA director and investor Max Wright plus Clementine and Diane from Ellis Jones.
Don reported that since 2020 there have been:
- 306 business plans received by DBA
- 90 pitches presented
- 267 expressions of interest received in 63 companies
- 12 companies invested in
Three further businesses also pitched to investors: a multi-cultural catering platform, a company with bespoke electrical accessories and a charitable donating platform.
Visit https://dorsetbusinessangels.co.uk/ for details about Dorset Business Angels and https://www.ellisjones.co.uk/business/ for more about Ellis Jones’ business services for start-ups and entrepreneurs.