On 9th November the second session of the Spin-off Competence Lab was led by Prof. Russell Smith (University of Malta).
All start-up businesses will need early finance to cover the deficits that arise prior to the new enterprise becoming profitable.
Since start-up rarely have products or services for sale at the outset, it is usually impossible to raise debt finance from a bank since there is no revenue from which to make loan repayments. Unless the founders have personal funds available, the other main options are grant-funding from Government schemes or equity finance from investors who buy shares in the company.
Prof Smith guided attendees through the steps that need to be taken when seeking either forms of start-up funding and review that online training programme that may be accessed through this project.
Russell Smith is a professor of entrepreneurship. He has launched three spin-out companies from the University of Oxford and he worked with over 8,000 new business founders from 36 countries.
As a summary of the session around 45 participants from different universities of the Alliance attended the webinar. All participants agreed on how interesting Smith’s presentation was. If you missed out this session or you want to watch it again, you have it available on the YouTube channel of the SEA-EU Alliance: