Early stage tech companies in particular are finding this novel method of recruiting top talent pays off.
Local entrepreneur James Tweed who pitched previously for a Sales Manager and a Non-Executive Director at Cambridge Pitching for Management event said: “Raising cash is possible at the moment, but investors want to be clear about why your business will succeed, and that means having the right people in the business....But here's the catch 22 - you can't attract the right people when you're really small, and you can't afford them until you have money in the bank. This is where Pitching for Management is brilliant and is filling a much needed gap in the market.
"We pitched at the Cambridge Pitching for Management event and used it as a means of practicing getting our message across, of selling our vision, before doing so in front of potential investors. The atmosphere in the room is more relaxed when you're asking for people's help, rather than their money. We also used the events as a means of finding key people to help boost the team sheet.
"From the event we made some fantastic contacts and have attracted a couple of people to help us on our journey. We have taken on one in a sales role and we're in regular contact with another who is acting in an unofficial non-executive type role. These additions to the roll call of the Coracle team have been a vital part of securing finance from angel investors.”
Chris Walklett, Business & International Tax Partner at accountancy firm PEM, which is sponsoring Cambridge Pitching for Management in 2012 said: “Thanks to the positive changes to EIS, and the introduction of the Seed EIS scheme by the Chancellor, this year will hopefully encourage funding for exciting businesses that need cash to grow, but they will not be successful if they cannot convince investors that they have a team in place to deliver the opportunity for which they are trying to raise equity finance. The banks too are focusing in more and more on team dynamics and entrepreneurs need to take this into account before and not during the investment process. We like Pitching for Management because it solves the problem of getting the right team in place, especially before there is cash around to pay salaries. Without a doubt with the right team in place it is possible to attract funding, especially from VCs and angels.”
There is already strong demand for audience places at the event. Senior executives are stepping forward all over the UK to offer their time, skills and experience to the region’s most exciting hi- tech and other entrepreneurial businesses. In Cambridge there is particular interest from individuals who relish a second career opportunity.
John Short, Senior Partner of Taylor Vinters, which is hosting the event on 16th May, said: “Pitching for Management is a win:win:win situation. Talented people with time on their hands find new an exciting opportunities to create financial value from their skills and experience; entrepreneurs can build the right, not just any old, management team; the UK economy benefits from having a more efficient and cost effective model to help start ups and early stage businesses start to release their potential. We highly value the fact that we can contribute to this new ecosystem as hosts and partners of these events in Cambridge.”
Philip Martin, a patent attorney at Marks & Clerk LLP, which has just renewed its sponsorship for Cambridge Pitching for Management said: “This is a highly valuable event which we exhort tech companies to exploit. Technology underpins many of the UK’s most successful businesses, especially Cambridge based ones like ARM and Cambridge Silicon Radio, but technology alone does not make a global business. This is achieved by ensuring that quality intellectual property protection has been secured correctly. Then, with a top team in place, you can exploit the commercial potential of a patent, trademark or even a trade secret.
Senior executives, serial entrepreneurs and value added business angels can book places now at: http://pitchingformanagementcambridge5.eventbrite.com/
The roles on offer will be announced one week before the event.
About Pitching for Management
Pitching for Management is a national series of live events across 20 cities offering fast-growth companies the chance to find senior executives and non-executives to help their company proceed to its next stage of growth. At each event, up to six companies present their businesses and the roles available to a room of highly talented individuals ranging from sales, marketing and finance board positions to mentorships, chair, CEO and non-executive director positions.
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For more information please contact:
Modwenna Rees-Mogg, Pitching for Management on 01761 452248 or email: modwenna@angelnews.co.uk
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