Longford Business Angel Network's €1,000,000 Fund

IPR_Iain

Sean Gallagher launches €1,000,000 Fund Aimed at Attracting New Businesses to Longford

Sean Gallagher of RTE’s Dragon’s Den today launched a €1,000,000 seed capital fund which is aimed at attracting new business to Longford.

The fund is being made available through a County based Business Angel Network which is the first exclusively County based fund in Ireland. The Network comprises 20 individuals, most of whom have family or business connections to Longford, who have each agreed to invest €50,000 to create a €1,000,000 fund available for investment in new high potential start-ups looking for seed capital – indeed many Angels are prepared to invest in excess of that sum in the right business idea. The sole eligibility criteria in order to qualify for investment is that the new business must be prepared to locate in County Longford. Also on offer to potential entrepreneurs is a start up package including free business mentoring, accountancy advice and rent free periods.

Speaking at the launch entrepreneur Sean Gallagher said he was delighted to be launching the initiative which was a very proactive step by business leaders in the community to move away from negative sentiment and focus on the positives of the region. “Our communities need initiative and innovation from our business leaders. We need our entrepreneurs starting small business employing themselves and others. The fund being launched here today coupled with the business start up package on offer provides budding entrepreneurs with a real opportunity to turn their ideas into viable businesses”.

The Business Angel Network is the first initiative of the Longford Business Forum which was recently established in order to raise Longford’s business profile and proactively promote the County as a viable location for inward investment.

Chairman of the Longford Business Forum, businessman Padraic Ward said that “the Forum consists of local business people working together motivated by a realisation that if the local business community wants to bring further business, wealth and jobs to the County, in the current economic climate, this can only be achieved through harnessing the wide ranging skills, connections and resources which exist within the business community. The Forum’s aim is to show a wide audience that we are a pro business County with self designed support mechanisms and packages available for potential investors”

Also speaking at the launch was James Morgan, a chartered accountant specialising in business consultancy who is both a member of the Forum and one of the 20 Angels willing to invest in new start ups. “The Angels are all successful business people with experience in a variety of sectors including agri business, healthcare, accountancy, manufacturing, food processing and retail. The Angels are prepared to not only invest their money in new projects with good growth prospects but also to offer their knowledge and expertise which will no doubt prove invaluable to new business ventures”

In order to encourage and support potential entrepreneurs to come forward and seek the significant seed capital available, a free seminar day will be held in Longford on 30 May, 2011 at which Sean Gallagher will also be on hand to provide his invaluable advice and assistance.

website: www.longfordbusinessangelnetwork.com and it's totally free to register and apply.

Thought it would be of interest for those looking for money for their businesses.

IPR_Iain

We are still looking for potential ideas and are offering a huge package for a good idea with a well thought out opportunity.

Please register and get your ideas in. The group sit down late this week to put some through and match some business money with Business ideas.

HellFireClub

IPR_Iain wrote: »

We are still looking for potential ideas and are offering a huge package for a good idea with a well thought out opportunity.

Please register and get your ideas in. The group sit down late this week to put some through and match some business money with Business ideas.

If I got a cent for every pitch I saw like this I'd be sorted. Nothing on the site would make me think that it is any different from the collection of the usual BMW driving timewasters that most entrepreneurs learn to avoid...

Sorry if the cynicism is misplaced, I've just been around the block once too often than to be listening to this sh*t...

IPR_Iain

HellFireClub wrote: »

If I got a cent for every pitch I saw like this I'd be sorted. Nothing on the site would make me think that it is any different from the collection of the usual BMW driving timewasters that most entrepreneurs learn to avoid...

Sorry if the cynicism is misplaced, I've just been around the block once too often than to be listening to this sh*t...

LOL hellfire. This is genuine and only one of the guys drives a BMW irc. lol

We as a community in Longford are trying to attract new businesses and jobs to the area with the wealthiest in the community trying to make money themselves by investing and helping Longford at the same time.

We have 21 investors that want to invest at least €50k each. It is as simple as that.

yarenty

IPR_Iain wrote: »

We as a community in Longford are trying to attract new businesses and jobs to the area with the wealthiest in the community trying to make money themselves by investing and helping Longford at the same time.

We have 21 investors that want to invest at least €50k each. It is as simple as that.

Hi,
I'm looking at the moment for investors. I'm startup looking for move my business into next level.
Quick check into my project: www.eireshop.ie.

How can I connect / meet / apply ? - I mean: I saw your website but is redirecting me to angelsoft.net - is that the only way?

Best Regards,
eireshop@eireshop.ie

StupidLikeAFox

How does your company make money yarenty? you just seem to advertise Lidl and Aldi offers?

cousin_borat

I had a good chat with Sean Gallagher today about the session in Kellehers in Longford last week. He was very positive overall.

Seems genuine to me although I'm not sure why if they're business angels they need HBAN to vet business planss for them.

I went to school in Longford so especially interested to see how it goes.

yarenty

ColHol wrote: »

How does your company make money yarenty? you just seem to advertise Lidl and Aldi offers?

Till end of this week 2 new business will be displaying they products on eireshop.ie website.

Main goal is:

For small / medium shops/retailers/service providers there are no necessity to create own website.
For big shop there is need for compete with other to get more clients


In www.eireshop.ie - everyone can buy place to exist in internet, and I am taking care of all SEO / marketing/ socializing / networking activity - including integration with facebook and twitter, etc...


At the moment there is over 22000 registered users on forum which start just 3 month ago.

This website is already success, but there is a lot of space to grow, and I'm looking for investors who can help me - not only financially.

tomas88

HellFireClub wrote: »

If I got a cent for every pitch I saw like this I'd be sorted. Nothing on the site would make me think that it is any different from the collection of the usual BMW driving timewasters that most entrepreneurs learn to avoid...

Sorry if the cynicism is misplaced, I've just been around the block once too often than to be listening to this sh*t...

I've always got the same feeling from these types of offers. I've actually got something in the late stages of development at the moment ,that isn't out there at the moment and I think most people could see how it would work ( I'm not including my mam and Dad here ).

I'll need capital to take as much of the market as quick as I can but I'm worried about going to plonkers who want a business setup with instant sales and guaranteed success.

My website is original and it is setup to make money straight away but I'm worried about sharing my original idea with "BMW driving timewasters".

Any ideas?

AstonMartin

Iain,

How did the angel investors come together?

What proposals have you received that would create employment in Longford?