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Venture Hothouse is a software development company with established roots in UK Business Consultancy. Two of the founding Directors of Venture Hothouse, Paul Clarke and Ron Wells also own a successful B2B Marketing and Software Development Company which advises Blue Chip, Public Sector and SME organisations to operate efficiently, communicate effectively and make sound business decisions.
The third founding Director, the late Dr Tony Marchington, spent decades raising funding for early stage ventures. Marchington’s reputation and track record in this area was exceptional (including successfully raising funds where others had previously failed). Through his experience and methodology, Tony gave entrepreneurs the best possible chance of successfully raising investment capital.
The founding Directors worked together over a three year period in order to identify and solve the primary reasons why start-ups fail to raise funds.
One of the detailed tasks undertaken was to convert Tony’s array of financial forecasting spreadsheets and his outline business planning structure, into a simple-to-use piece of software.
It was identified that if this successful methodology could be encapsulated into an easy to use application, that in turn could produce the same standard of documentation, this could revolutionise the way entrepreneurs and businesses raise funds by introducing simplicity and clarity into the process.
In addition to the methodology and process benefits, an opportunity existed to address three key further issues:
Business plans are expensive - they are expensive to produce if produced professionally and often fall short of satisfactory quality thresholds if they are not produced by ‘investment experts’.
Lack of standard formats - there is no standard format of business plan which is recognised by any industry, resulting in both production and evaluation being cumbersome and inconsistent.
Lack of centralised market place – there needs to be a better way of combining methods of funding via multiple sources. Standardisation enables an extensible funding syndication platform to be developed.
In order to benchmark within the business investment arena, Venture Hothouse approached the BVCA to explore the potential of working in collaboration with them. The process entailed establishing the most common headaches BVCA members face when sourcing and evaluating potential opportunities.
Having evaluated the Investor Edition of the tools, the BVCA recognised the significance and potential for the Venture Hothouse methodology to significantly improve and streamline the investment process. Against this backdrop and during the latter part of the development period, Venture Hothouse engaged with BVCA members to further refine the tools.
Over the last 18 months, Venture Hothouse has further developed this methodology and applied it into 2 new Editions of the Tools in order to increase the scope of businesses that could benefit from producing high quality business plans.
The SME Edition and Micro Edition, in addition to the Investor Edition, ensure that whatever type of business you are and whatever type of finance you are looking to raise, the Tools available on Fund My Business will help you on your way.