How do I get onto the programme?

The first step is to register on the site, a member of the team will then contact you to discuss your business and invite you to a free introductory seminar.  As spaces are limited, YFAFHT pre-qualifies companies before inviting them to an introductory seminar. 

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How do I know if my company is ready to participate in the programme?

Your company must have an office that is located within a Yorkshire and Humberside postcode district and you must be looking for investment to achieve rapid growth.  If you do not yet have a prototype of your product, service or process your company may not be ready for the programme, however you should still register so we can discuss this with you.  Ideally you will have customers and some revenue however if you are pre-revenue you may still qualify for the programme. 

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How do I know if my company is ready for investment?

Typically, to be considered "investment ready" your company should have developed its product, process or service to at least a prototype stage, however there are a number of other areas that need to be addressed when looking at securing investment.  These include the innovation, your team, the market potential and business model, and investor returns. 

You can take a free assessment to gauge your potential by going to http://www.venturenavigator.co.uk/ and completing the investment readiness assessment.

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Does YFAFHT provide funding for companies?

No, YFAFHT does not make investments in companies.  YFAFHT is an investment readiness training programme and we support companies to maximise their chances of success when raising investment.

We work closely with participating companies to help secure equity funding and can facilitate introductions to our extensive network of business angels, VCs and corporate investors.  You may like to view our case studies to see how other companies have benefitted from the YFAFHT programme.

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I'm an Investor, do I need to have an office in Yorkshire to invest in YFAFHT companies?

The geographical limitation is for companies only and we are happy to work with investors from anywhere in the UK or overseas.  Investors do need to be either from an established FSA-regulated investment fund, or self-certified as an High Net Worth Individual or Sophisticated Investor.  You will need to register as an Investor to be able to view information on the YFAFHT companies.

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How long does it take to secure investment?

There is no guarantee that any company participating in the programme will secure investment, however you will be better placed.  You should allow 6 to 9 months, possibly up to a year.

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My company needs money within the next month or it will not be able to continue, can YFAFHT get me the money?

If you have an immediate requirement for additional funds to keep your company going, equity investment is unlikely to be appropriate for your business.  Businesses should typically allow 6 to 9 months for the fund raising process.

You should explore other avenues of funding recently announced by the UK government, for more information visit here

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When I'm talking to an investor how much do I value my company at?

There are a number of ways of valuing a company, however for an early stage company that is pre-revenue the risk to an investor will be high and any valuation will reflect this.  The issue of valuation is addressed in the YFAFHT programme.

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Does the YFAFHT programme undertake due diligence on the companies?

No, typically investors like to undertake their own due diligence on a company and will have their own team to do this.

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Does the YFAFHT programme assist companies in the negotiation process with investors?

The programme can help companies to get up to the point of investor negotiations however we do not participate directly in the negotiations. Companies should engage their own professional advisors to assist with these negotiations.

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How should I protect my IP? Is it possible to search patent databases?

We would always recommend that you seek professional advice in relation to protecting IP, what is protectable, what are the methods of protection (e.g. patents, trademark, copyright, etc.).

A good initial point of contact is the British Library Business & IP Centre which offers free e-courses on intellectual property.  If you are interested in searching US patents, and initial starting point could be freepatentsonline (however, we would always recommend taking expert advice before commencing the patent protection journey).

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Where else can I look for assistance?

There are a number of options open to you, a good starting point is Business Link Yorkshire, who provide advice and signposting to appropriate resources.

For early stage technology businesses Connect Yorkshire was set up to bring together the participants in the business development process to support early stage companies and unlock the full potential of the wealth of technology businesses in the Yorkshire region.

Medipex Ltd is the NHS Innovation Hub for the Yorkshire and Humber region in UK and provides technology transfer services to the National Health Service (NHS) in UK.  It assists the NHS bodies and their employees (doctors, nurses, R&D staff, supporting functions et al.) in the region to recognize the true value of their ideas. Guidance and practical support is provided from the idea stage through to development and final product launch in the marketplace. This ensures that the innovations and Intellectual Property (IP) within the NHS are identified and developed in the interests of improved patient care and also for the benefit of the NHS and the inventors.

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