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Customers
The sections below summarise a few of the many potential customers and customer types for The Gauntlet. Library House is always interested to hear from companies and organizations that can help broaden access to
The Gauntlet, please contact Zaeem Max Maqsood at
Public Sector
The East of England Development Agency
On 23 May, 2005, The East of England Development Agency (EEDA) announced that it will become the first customer of The Gauntlet. EEDA is offering entrepreneurs from the East of England an exclusive opportunity to
secure funding for their ideas in the UK's biggest business competition - Running the Gauntlet - offering up to four companies a share of £1,000,000 investment funding provided by CREATE, a leading investor in
East of England businesses..
The Running the Gauntlet competition is based around The Gauntlet. The competition sees the East of England Development Agency (EEDA) leading the way in the UK by giving entrants access to The Gauntlet free of charge.
At the launch of this initiative, Boyd Mulvey, Chief Executive, CREATE commented, "….we see The Gauntlet as an exciting opportunity for businesses of all stages in the East of England which are looking for funding to learn what investors need. We hope that as a result of this competition, more businesses in the region will become investment ready and that we can announce some substantial investments in innovative high growth companies."
EEDA Chief Executive David Marlow added: "This is a fantastic, no-risk opportunity for East of England entrepreneurs to use this ground-breaking software free of charge. There is nothing to lose and so much to gain with the potential for securing significant investment funding.
To find out more about the EEDA competition, visit www.runningthegauntlet.com
Innovation-based Companies
The Gauntlet is designed to help innovation-based companies that have the ambition to secure investment from professional investors including business angels or venture capital firms.
The Gauntlet experience can be undertaken by an individual entrepreneur, a small group or an entire team. Many entrepreneurs find it valuable to engage their team when running The Gauntlet to provoke discussion and achieve a common understanding about the development of their business. Don't forget that you can take as long as you like to finish the assessment in order to take full advantage of the wide range of resources available on the site.
Many companies that run The Gauntlet are start-ups that have not yet received venture capital investment. Your company may have only just been formed, or you may have been in existence for a while and have already received funding from e.g. your own resources, friends, family or angel investors.
Companies that have already received venture capital investment can also benefit from The Gauntlet particularly when you are looking to attract new investors to price the next round of investment.
Venture Capital Firms
The Gauntlet will help VCs filter the large number of business plans they receive..
Many top venture capitalists were involved in the development of The Gauntlet making it the perfect tool to offer feedback to companies looking for investment; Library House anticipates that The Gauntlet will become a benchmark that all entrepreneurs looking for funding will have to complete.
Education
The Gauntlet has been developed in conjunction with the LSE and contains a wealth of original material, provided by world-class entrepreneurs and investors. As such, The Gauntlet can enhance any course that teaches business or entrepreneurship.
University and Corporate Spin-outs
The Gauntlet will be a vital tool for university Technology Transfer Offices and corporate venturing departments to assess and support spin-outs and help them become more 'investable'.
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