DIGITALJET

A number of investors have expressed interest in the company which is looking to cash in on the growing digital media download and distribution market.

"I have spoken with one of the interested parties and I am due to speak with the other in the coming weeks," says Niall O'Neill, (pictured above) who heads up the company.

"The discussions to this point were just preliminary; I have compiled a status report outlining the current opportunity and developments that have occurred over the last two months. The company continues to build new relationships and has received interest from retail and distribution partners internationally. These factors help to strengthen the proposal and add value to the company," he says.

However, the company has not yet entered into formal negotiations with potential angel investors.

"We have simply outlined the financial requirement and objectives of the company," explains O'Neill. "We expect negotiations to take several weeks. Our product, business relationships and supply chain is already in place, so we hope to come to agreement in a relatively short time. It is now imperative that we find the right investor and adequate finance to allow us build infrastructure and take advantage of the current opportunity."

CLEVAMAMA

Events are moving very fast for sisters Suzanne Browne and Martina Delaney (pictured right) from baby products company Clevamama.

"We've been made an offer and we are extremely happy with the offer we have received," explains Browne.

In fact, their first meeting with a potential investor took place on the night they made their pitch. While the pitch is essential in generating the interest, the real work starts afterwards, says Browne.

"We were fretting about the pitch, but the pitch only gives people a brief overview and afterwards, that's when you get down to the detail," she says.

"I don't know what I was expecting, but it was pleasant. We said from day one, everybody has to be happy, there is no use in one person coming in thinking they are a little hard done by because then it just doesn't work - it doesn't work for us, for the investor or if there is another person involved."

As the company was working on projections, it was essential that it had the figures and material to back these up, she says.

"Everything has to be 100 per cent thorough, crystal clear, laid out in black and white," says Browne.

"Everybody has to put their cards on the table, be straight to the point and 100 per cent honest. If you're not, you'll just catch yourself out and it'll all come out in the end. You have to go through due diligence and if you spoof anything, it will all come out."

TECHNOLOGY FROM IDEAS

The commercialisation company that specialises in conducting proof of concept development is in an unusual position in that it is talking to existing investors as well as business angels, but managing director Dan Richardson (pictured above) says he is happy with the progress of talks since he made his pitch.

"Everything takes longer than you think which is the reality of raising money," he says. "We've had a lot of interest, we've made more presentations and we've had interest from quite a few angels, so we have progressed quite a long way down the road towards doing a deal," he says.

Richardson says he is encouraged by interest from the angel investors.

"The syndicate that might be investing are all experienced people who I think would add to the company as well," he says. "Our company is quite different, we're not manufacturing, we're doing something quite novel and unique and that generates interest."

We continue our series on companies seeking to raise cash through the Business Angel Partnership. This month, we revisit Digital Jet, Clevamama and Technology From Ideas to look at their post-pitch experiences.