Isle of Man, British Isles (PRWEB) December 6, 2006
Ten finalists have gone through to obtain a share of £10 million in funding for their businesses from a panel of Britain's leading sources of investment in the Fox's Lair, it was announced today. The largest deal is was worth £5 million and the smallest, £250,000. Due diligence of these 10 finalists is now underway.
The competition, loosely based on the BBC's Dragons Den programme, was held in the Isle of Man last week with 13 competitors from the island, across the UK and from as far away as North America. Finalists represented a range of industries including health care, technology, manufacturing, finance, travel and more.
"Response to the Fox's Lair certainly exceeded our expectations with more than a hundred organisations showing interest," said Justin Martin, director of Fox Capital, the event organisers. "We are delighted with the quality of the businesses and value of the deals negotiated in the Fox's Lair."
The Foxes' Lair was open to privately-held companies of any size. Roy Tilleard, Director at Fox Capital explained, "Based on the success of this event, we are planning on running more in the future. The Isle of Man has plenty to offer entrepreneurs from progressive tax policies to a world-class telecoms infrastructure. We are delighted to introduce companies with high growth prospects to the benefits of doing business here."
The panel consisted of recognised experts in business and finance from the Isle of Man and the UK including:
· Pamela Crow, Member of the Legislative Council, Isle of Man Government
· Mike Hennessy, HSBC
· Justin Martin, Fox Capital Limited
· Charles Owen, General Capital Group plc
· Simon Scott, Barclay's Wealth, Intermediaries and Corporate
· Peter Smithson, HSBC
· Roy Tilleard, Fox Capital Limited
· Jeremy Veasey, Ellis & Co Limited
· Nick Yates, Johnston Press
Offers of funding made in The Fox's Lair went to:
· IPIVA Ltd, a UK-based Internet TV middleware provider that offers a software systems to manage video-on-demand billing and other services to TV content and broadband operators.
· Special Little People, a UK-based online retailer, provides aromatherapy blends for children.
· Manx Travel, and island-based tour operator, focuses on inward-bound tourists and is the exclusive Manx partner of Global Travel Group plc (GTG).
· Debit Direct Ltd, an Isle of Man company, provides trans-national remittances via a web-based funds transfer system through a number of portals across 27 countries.
· A London-based company providing 'tap and go eMoney' services set for broad consumer usage.
· Stay Mobile, an island-based company, provides mobile phone recharging stations Ideal for bars, festivals, conference centres, airports, gyms and cinemas.
· Channel One, an Isle of Man-based distributor of specialist graphics chips to mainstream industrial, medical, avionic and military customers.
· IEMG Ltd, is a UK-based digital games distributor of quality digital games from leading AAA publishers and high branded merchants such as Lego.
· KuraWood, with operations in the UK and New Zealand, offers world-class sustainable plantation timber products to major UK and international DIY, building and timber retailers.
· Insole PRO Ltd, based in Scotland, provides prescription foot orthoses and specialises in the measurement and fitting of custom comfort insoles.
Fox Capital will continue to work with three unsuccessful finalists to help them develop into fundable propositions.
Isle of Man-based Fox Capital Limited provides a range of corporate finance services including equity and equity-linked fund raising, flotation, mergers and acquisitions debt arrangements and other advisory services. Since 2002 the company has built its business on forging strong relationships and effectively bridging the gap between investors and entrepreneurs. http://www.foxcapitalcf.com, foxeslair.strivepr.com
Media and reader enquiries to
Sherrilynne Starkie 01624 628994