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ARE YOU ONE OF THE 4 MILLION UK CITIZENS TRYING TO QUIT SMOKING THIS YEAR? 2 September 2005
Are you one of the 4 million UK citizens trying to quit smoking this year? If so, the news is getting better. Although in the past only an average of 5% of individuals that try to kick the habit actually succeed, one of the companies presenting to investors at the GEIF Investment Day on Thursday 8 September is aiming to drastically increase the success rates. One of five companies hoping to secure investment, g-Nostics is building a business based on patented technology enabling the identification of 'addictive genes'. On one level this doesn't sound that astonishing, but what is groundbreaking is that through understanding the genetic makeup of an individual, g-Nostics can prescribe 'personalised' medicine - i.e. medicine just for you. The potential market for the g-Nostics test and treatment is enormous. But as with each of the companies presenting, g-Nostics needs funding to help them exploit their potential. "Private investors are seeking the future winners - these individuals invest much needed capital to companies at the cutting and risky edge of business, in the hope that in 5 or 10 years they will receive a significant return on their initial investment. The GEIF Investment Day facilitates these introductions" said Andrea Blakesley, one of GEIF's directors. Companies approach the GEIF team from across the UK to help with their fundraising, and many are extremely successful. Established in 1995 as part of the NW Brown Group, the Great Eastern Investment Forum has introduced over 230 companies to investors, 30% of which have been successful in sourcing funding, totalling just under £7.5m of cash. The Forum has also driven the model of angel co-investment with GEIF Ventures, a £5m fund launched in 2003 that has co-invested just over £2m alongside GEIF investors. The investor network is open to all individuals considering investing into early-stage companies. These individuals, known as business angels, are characterised by having the financial wherewithal to invest into such risky propositions, and GEIF continually seeks to develop and expand its membership. "Recent feedback from our investors shows that they like to invest as syndicates - this is excellent news for 'virgin angels' as they benefit from the investment history of experienced investors. Thursday's event will welcome a number of new investors to GEIF and we are confident that the companies will impress." And of course, some of the investors are also trying to quit… If you would like to find out more about the companies seeking funding, and/or are considering investing into early stage companies, please call Andrea Blakesley on 01223 720213.
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