By Peter Douglas
Business Finance Services
IGIG Ltd. is a start-up company with enormous potential (but we would say that, wouldn’t we!). In simple terms, it has developed an app that allows anyone with a mobile, tablet, laptop etc. to watch in HD either live events or videos of past performances.
What’s so clever you might ask? The answer is that the events are shot on multi-cameras and the viewer can choose at any time which cameras output they watch. Thus, whether it is a music gig, a sports event or an e-sports event, the viewer chooses what they watch.
Whilst this sounds, and is, great, we have had to overcome some enormous problems in establishing the business. Initial funding was organised by Business Finance Services Ltd. through a small number of far-sighted investors. Inevitably there were then delays in developing both the hardware and particularly the software. Recently, however, due mainly to the efforts of MD Ray Meadham, we have forged links with software houses. We have also attracted the interest of some major corporations, including Amazon, who have been pro-active in helping us to solve those software problems.
iGiG is now going through a further equity raise designed to provide funding to launch the product and to cover initial staffing costs. We have been lucky enough to be accepted onto the Virgin Start-up Boost Scheme. This is a programme offered to new businesses deemed to have significant growth potential. It consists of a series of seven one-day courses run over seven weeks. The objective is to set the attendee companies up with everything they need to make a successful pitch to potential investors. This is a very intensive, high pressure course.
At the end of the course there is an opportunity to pitch to a number of Business Angels directly and/or to place the pitch on Crowdcube, an equity oriented crowd funding platform. With iGiG, however, we are also looking at options for raising the necessary equity finance through the MEIF, the Midlands Engine Investment Fund, which is backed by the British Business Bank.
If you would like to know more about the iGiG project in particular or about how to fund a start-up business, contact Business Finance Services on 0800 093 5240 or e-mail
