MIDAS - Providing access to investment for software-producing SMEs
The MIDAS project, supported by the EU's ESPRIT programme, is designed to help software SMEs in Scandinavia and the United Kingdom prepare business plans for investment financing. The project includes seminars, individual consultations and workshops, and MIDAS has established relationships with several venture capital companies which are willing to consider good business plans. Typically, only one in a hundred companies seeking investment are successful in their search for funding. The majority of applications are thrown out in the first five minutes, mainly for silly reasons, such as poor discussion of management, marketing and positioning or the likely return and timescale for investors. Also many applicants do not seek out venture capitalists with interest and expertise in their technological field. MIDAS is running an initial series of seminars, entitled "An introduction to investment finance" in Norway, Finland, Sweden and the UK during April and May 1998. Participation will be open at reduced rates to companies meeting the following criteria: - Be software producers, based in Scandinavia or the UK; - Be considering investment funding and have a business plan in place or under development; - Have an established product and trading record; - Be seeking funds for expansion. Companies not meeting these criteria can also take part, but at normal commercial rates.
Countries
Finland, Norway, Sweden, United Kingdom