“I am very pleased to announce that the application for grant funding was approved! Well done Team Venturenomix – couldn’t have done it without you!”
Louise Morpeth // CEO // Brain In Hand
”This is an excellent application for grant funding and the applicant has provided a thorough and well supported argument to support their proposal.”
Assessor 2 // Innovate UK Edge
Introduction – Understanding the Challenges
Brain In Hand has made the hard yards from start-up to scale up and now was the time to secure a significant amount of funding to genuinely scale the capability of the company. CEO, Louise Morpeth, identified the opportunity to leverage private equity funding with public grant funding through a niche Innovate UK Edge investment/grant scheme.
Working Together – Solution and Services
It was essential to balance the interests and requirements of three parties – Brain In Hand, the innovative SME, 24 Haymarket, the active equity investor, and Innovate UK Edge, the grant funder. Venturenomix was engaged to manage the grant application element and provide insights to the whole process.
Successful Outcomes
The grant (£993k) and equity funding (£1.6m) application was approved by both funders which unlocks £2.6m in critical scale-up funding for Brain In Hand. This approach to funding from Innovate UK Edge reduces risks on all sides and ultimately brings forward significant investment for ambitious SMEs.
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