News

August 31, 2010 - Anonymous

Ninety seconds for North East firms to impress investors

Ninety seconds – that’s all it takes to impress an investor with a classic ‘elevator pitch’. But how do you get in front of the investor?

Firms in the north east of England now have a golden opportunity to deliver a 90-second pitch directly to potential private investors via online video, thanks to an initiative launched by North East Access to Finance (NEATF).

The NEATF has built a facility on its website for entrepreneurs and small business owners to upload the 90-second video of themselves explaining who they are, what they do and why they need funding. The NEATF will put the Dragons’-Den-style elevator pitch – so-called because it can be delivered in the time it takes to travel with a potential investor in an elevator – in front of registered investors in a private area of the site.

“We’re not looking for high production values,” said NEATF administrator Tim Potts. “Were looking for sound business ideas and people with a good idea of what their business involves and where they’re going with it. You can do a decent quality video even with a digital camera.”

Pitching is free and there are no restrictions on the investment you ask for. The site also has guidance on what a pitch should contain, including:

  • what you do
  • how you expect to make money
  • how much funding you are seeking
  • the value of your business

“A good pitch is confident, enthusiastic, concise and to the point,” said Potts. “It’s important to write it out beforehand and read it in the way you would speak it. Practice the pitch and get feedback before recording your video.”

The NEATF is a not-for-profit organisation set up by regional development agency One North East.