The Access to Finance for Healthcare Technologies programme provides healthcare companies in Yorkshire & Humber the knowledge, advice, tools and resources needed to access equity funding from national and international investors.
KIRKSTALL ATTRACTS INWARD INVESTMENT
Background
Kirkstall Ltd is a biotech company developing innovative testing technologies, based at Kroto Innovation Centre in Sheffield. The company has developed toxicity screening products to be used by the chemical, pharmaceutical and cosmetics industries to reduce the need for animal testing. The tests are based on human cells, reducing the risk of problems in human trials. The technology is the result of seven years research and development at the University of Pisa.
Objective
Dr Malcolm Wilkinson, managing director of Kirkstall, wanted to secure interest from potential investors to enable the company to expand its testing of toxicity screening products. He decided to join the programme to help him improve his business plan and investor presentation skills.
Implementation
Dr Malcolm Wilkinson found the workshops very useful at outlining the objectives and structure of the programme and it was then that he decided to target regional and national investors. The mentoring sessions gave Malcolm access to a good list of contacts and the opportunity to hone his investor proposition. He also found the mentoring sessions particularly beneficial as they helped him to develop his PowerPoint presentation skills. The networking opportunities helped Malcolm to increase his contacts and secure the services of a first-rate non-executive chairman with impressive industry experience.
Result
Kirkstall Ltd secured investment worth over £100,000 from two business angels from outside the region which have joined forces with existing Yorkshire investors. The Viking Loan Fund has also provided Kirkstall with £70,000 of working capital to support the company’s growth.
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