One of the biggest challenges when starting a company is securing financing or funding. This intensifies when the company is a social enterprise or a mission-led business aiming to use business to make the world a better place, often because of the non-traditional nature of the business model.
If an entrepreneur is fortunate enough to know or have a network that includes investors, there can be the extra hurdle of having the right investors that understand this space and share the same values and motivations. Understanding the social or environmental impact the business is seeking to make is crucial.
Traditionally, investors have tended to focus primarily on financial returns, but in recent years there has been a shift in thinking that goes well beyond the maximization of that return. This shift has begun to include an understanding and interest in the social and environmental impact a business is seeking to make when evaluating the performance of a company. Whilst it’s still early days, interest in this new way of thinking is growing and needs to be nurtured.
Matching entrepreneurs who are using business for good and investors, active or curious, is vital to foster growth within the industry.
To help address this issue, Social Investment Scotland is organising Pitch For Purpose: an Investor Speed Dating event taking place on 31 August in Glasgow. Entrepreneurs will have roughly 10 minutes to pitch their idea before they move to the next table and pitch to a new investor. Pitch For Purpose is not only going to be a great opportunity for start-ups and SMEs to network and build relationships with investors and intermediaries within the business ecosystem, but also a feeder session for Venturefest Scotland, taking place on 20 September at the Glasgow Science Centre.
Venturefest is a fantastic event connecting business owners, entrepreneurs, investors and innovators while providing a platform for growing companies to find the tools, advice, funding and contacts they need to take their businesses to the next level.
Both events are focused on supporting entrepreneurs and the mission to grow their business by providing a platform for startups and SMEs to connect with investors. Social Investment Scotland is looking forward to showcasing these entrepreneurs and connecting them with investors and stakeholders within the entrepreneurial ecosystem.