Dorset Business Angels mentor Wriggle and help secure significant funding to allow further development
Dorset Business Angels (DBA) have shown, yet again, their true value to entrepreneurs seeking investment for their companies as it announced that one of its applicants has been awarded a SMART Grant of £156,000 from Innovate UK, the UK’s Innovation Agency.
DBA was formed in 2013 with the aim of being a catalyst in Dorset to bring together entrepreneurs and investors to help accelerate the growth of start-up businesses. Their vision is to turn Dorset into one of the UK’s best regions for setting up high growth and start-up businesses by providing quality private equity investment opportunities to local high net worth and sophisticated investors.
Several times a year Dorset Business Angels investors invite businesses to pitch for investment in a Dragon’s Den style scenario which takes place at venues across Bournemouth.
Wriggle founder Rob Hall was invited to present to the Dorset Business Angels and impressed the investors who listened to his compelling pitch. Wriggle is a technology platform which enables restaurants and cafes to turn unused last-moment capacity, such as empty tables or surplus stock, into cut-price opportunities for local customers. www.getawriggleon.com
DBA investor, Frank Guinn advised, “Wriggle gave an excellent presentation and generated interest from approximately 7 investors at the meeting who were keen to find out more. We then met the very capable team at Wriggle, looked at their product and business plan in greater depth, reviewing forecasts and other financial information and data. I did this along with fellow investors, David Ford from Bright Blue Day and DBA guest Anthony Storey, Director of Silicon South.”
Frank continued, “We were extremely impressed with the young and enthusiastic team – a great group of people whose skills sets complemented each other. They showed themselves as exactly the type of company that DBA likes to support. We decided that our immediate support should come in the form of mentoring and opening further doors, opportunities and contacts to the business and providing pertinent advice and guidance. We wanted to help Wriggle to raise funds from organisations that we are well connected to and hence the introduction was made to the Government sponsored company, Innovate UK. We closely supported Rob throughout the funding process.”
Wriggle founder, Rob Hall enthused, “We are delighted to have been awarded the SMART grant from Innovate UK. The guidance and support that we received from Frank Guinn at DBA was invaluable. The support of both the Dorset Business Angels and Innovate UK is important validation of the hard-work that we’ve put in and the opportunity in front of us – it will only serve to increase the probability of success by allowing us to prioritise development spend.”
Concluding, Frank commented, “We were delighted to hear of Wriggle’s success in securing the funding from Innovate UK. They are exactly the type of company that we like to support and work with”