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We had a fantastic evening Monday night at Startup Guernsey’s first Angel pitch night. A range of projects had been invited to duke it out for a £500 prize from Barclays and in the end, Lance Plunkett with Found+Proof+Protect was voted by the Angels as the best pitch on the night. It was great to have a good mix of students, innovators who have built projects they now want to move to the next stage and on to startups seeking funding to move to the next stage.
As we had an audience of both business Angel investors and those new to this type of investment, I set the scene to explain how Angels invest. Business Angels are looking for the opportunity to invest in a growing company that will pay them back a multiple of their investment. However, Angels know that not all new companies succeed, particularly when facing all of the unknown risks that a new company can face. So the Angel will typically hold a portfolio of investments rather than just one, and will hope that not too many will fail, a few will pay them back their investment, and one or two do very well. The losses can be paid back by just one company which shoots the moon. So the question facing the Angels on Monday was – is there a company presenting tonight that will shoot the moon?
I introduced the Angels judges, emphasising that they are there to find out more information – not be dragons! Business angels Carl Symes, Rupert Dorey, Meriel Lenfestey, Philip Haynes were joined by Nigel Winkett, Barclays Head of Fiduciaries, Funds and Captives to pick the best pitch on the night.
Before we started, I thanked Keith and Ben from the Digital Greenhouse for all of their help in setting up the events for Global Entrepreneurship Week. In the past 4 years we have run events for Global Entrepreneurship all over town, running around hiring different venues, so we are delighted to be hosting them all in this new lovely space which we call our home. And now on to the pitches!
There were 3 types of pitches – one student group, followed by 2 projects who were looking for support getting to the next stage, and finally three startups seeking funding.
Civic Manor is a team from the Grammar School, were one of 3 winners of a competition in schools to pitch at FinVention. I was one of the judges and was blown away by the fantastic, thought provoking ideas that were presented. Now, experienced Angel investors will tell you that they are investing in the people as much as the idea. The students behind Civic Manor have the passion to impress any group of Angel investors. Their idea is C-Lution, an app to provide a platform to match those with problems to those who have solutions using AI algorithms.
Next up were 2 pitches which are not yet operating as companies. They both are the result of entrepreneurs seeing a problem and finding an innovative solution to it.
Stuart Ayers has developed a fantastic new app to automate accurate collection of due diligence material. Professional services firms who have to collect this material can save time using this new app and Stuart is keen to get people to test this as well as support getting it to the next stage.
Allocation Accounting Jpg
Allocation Accounting explained the new software package which has been developed to better handle the wide range of data needed in the private equity administration and accounting industries.
Our final group of pitches were seeking funding from Angel investors and all are solving problems – from the mundane lost item or hassle of completing tax returns to providing the potential to save lives in large crowds.
Allocation Accounting explained the new software package which has been developed to better handle the wide range of data needed in the private equity administration and accounting industries. Our final group of pitches were seeking funding from Angel investors and all are solving problems – from the mundane lost item or hassle of completing tax returns to providing the potential to save lives in large crowds.
Found + Proof +Protect
Lance Plunkett’s new app is seeking to connect the huge market for lost items, reduce the hassle of managing them, and reuniting them to their owners with his unique and innovative new app Found. He also showed the new projects for Proof and Protect that he is developing alongside this.
Nick Magliocchetti has developed this new app to solve the problem of the hassle expats have when having to Count Your Days (CYD) for tax reporting purposes. A classic example of an innovator solving one of life’s hassles.
Jay Aylmer has taken the simple tracking powers of technology to provide a solution to managing large crowds. The shocking statistics about injury and death when dealing with large numbers of people at events and in arenas mean the Tag Team app will make a real difference in saving lives.
After due deliberation, the judges selected Lance Plunkett with Found+Proof+Protect as the best pitch of the night. In addition to his £500 prize he will receive 1 year’s free business banking from Barclays. The student prize of £50 Amazon voucher for business books for the Grammar School library was won by the boys from Civic Manor. Congratulations to them all!
Nigel Winkett, head of fiduciaries, funds and captives at Barclays, said:
“Barclays is delighted to support initiatives such as Global Entrepreneurship Week which aim to give people the encouragement and guidance to fulfil their potential.
“The panel was very impressed with the standard of pitches. Each entrepreneur was passionate and knowledgeable, including this year’s student team Civic Manor. After a great evening of inspirational pitches, we found Lance Plunkett from Found+Proof+Protect to be a worthy winner of the £500 prize.
“Barclays has invested in a small business manager position to show our commitment and support to local startups and entrepreneurs such as Lance. We are looking forward to building our relationship with Lance and providing a range banking services to help his business grow.”
Lance Plunkett, the winner said:
"I want to say a HUGE thank you to Start-Up for organising such a great event and for the kind sponsorship put forward by Barclays Guernsey.
Aside being lucky enough to receive the 1st prize, I though the event was a great showcase of what is happening in the digital /start-up scene in Guernsey and hopefully ‘everyone’ in the future can work together to develop this sector to its full potential (which I think is BIG).
Thank you again it meant a great deal to be selected as the winner I was honesty touched, I hope I can continue to develop the business as a showcase of what can be achieved here in Guernsey and make it a great success."
I congratulated all of the entrepreneurs who pitched and provided a glimpse of some great products being developed locally. It was a fantastic showcase for Guernsey innovation and we hope to repeat the event next year. Startup Guernsey can put you in touch with any of these entrepreneurs if you would like to find out more information.