'Dragons' offer £7k for business ideas
- created on 28/06/2012
The hunt is on for people with new business ideas in Mid Wales who could tap into £7,000 investment from a panel of ‘dragons’.
Business development company Menter a Busnes and the Welsh Government have launched ‘Gorsedd y Dreigiau’ (Gorsedd of Dragons) in association with media company Telesgop to support new business ideas and a share of the £7,000 investment pot.
Individuals or businesses will have to pitch their enterprising ideas to a panel of judges – the Gorsedd of Dragons – at this year’s National Eisteddfod to be held in the Vale of Glamorgan in August.
The competition is open to Welsh speaking individuals or businesses about to launch a business in Wales, or existing companies up to five years old that are based in Wales.
“This is a great opportunity for someone with a genuine business idea to seek funding to take that idea towards reality,” said Alun Jones, Chief Executive of Menter a Busnes. “Wales is full of entrepreneurial spirit and Gorsedd y Dreigiau is about supporting individuals, groups and businesses to create businesses that can provide employment and opportunities.”
The panel will be looking for business ideas that have the potential to succeed and demonstrate the ‘entrepreneurial spirit of the people of Wales.’ The winning pitch will be awarded £5,000 to help establish or develop their business idea. A Young Person prize of £2,000 for people aged 16 to 25 will also be awarded.
Last year overall winner was Welsh salami and chorizo sausage producer, Saloni from Boncath, Pembrokeshire, while Gwynedd sports event organiser Always Aim High Events Ltd and Porthmadog brewer Cwrw Llyn were finalists.
Carwyn Adams of Saloni, said: “The competition put us on the map. People didn’t realise you could get Welsh salami and as a result of Gorsedd y Dreigiau we had a great deal of interest.”
Delyth Kendrick of Always Aim High said they hadn’t looked back since the competition. “Gorsedd y Dreigiau provided a boost for us and it is something we can use in our promotions to demonstrate - anything like that is good for a small business.”
“Things are going very well since we were a finalist in Gorsedd y Dreigiau,” said Myrddin ap Dafydd, one of the members of the co-operative which produces ales such as Brenin Enlli and Seithenyn. “We moved into new premises in Nefyn in January and we have increased production since to cater for demand.
The closing date for entries is Friday, 6th July and details can be found at www.menterabusnes.com. Entrants must be available to meet the panel of ‘dragons’ on Wednesday, 8th August 2012 at the National Eisteddfod.
The short-listed entrants will be filmed beforehand for a two-minute film to be shown to the panel before giving a two minute opportunity to pitch their idea.
The panel will include: Elin Rhys of Telesgop; Eryl Williams of Asbi Golf, Caerphilly; Janet Davies of Prysg, Cardiff; and last year’s winner, Carwyn Adams of Saloni.