The objective, says the company, is to ‘fill the equity funding gap’, with a view to facilitating small and large deals with a value of up to £500,000.
Joint managing directors Bill Morrow and Lois Cook were joined at London’s OXO tower for the launch by the likes of Levi Roots, who appeared on BBC2’s Dragons’ Den and attained a £50,000 investment for his Reggae Reggae Sauce business, and ‘80s mathematics and science guru Johnny Ball.
Ball delivered a stark reminder to all prospective investors of the importance of providing socially motivated finance, focusing on innovation that will bring benefit to all as opposed to just profit.
Morrow comments that with thousands of great business ideas out there, it’s lamentable that through lack of funding many of them remain just that; ideas. ‘Angels Den links people seeking finance with those who want to invest in business,’ he says.
For an initial £99 and with the help of templates and guidance, budding entrepreneurs can submit business overviews and plans online for a database of business angels to search through and view. Business angels can then request a more detailed business plan, which one can submit for a further £400 – fraction of the costs of traditional matching services’, says the company.
Hopeful entrepreneurs can submit their ideas at www.angelsden.co.uk