Following on from my post of 13/06/08 I am happy to announce that we have been offered £7,000 in grant funding from NESTA.
We have been told that the funding decisions were made on a very competitive basis and having spent 4 months on a training course getting to know the other participants and their businesses I can only imagine how difficult the decision making process was for the panel members involved.
Through a four page Executive Summary and a 30 minute pitch, each business was assessed in terms of the innovation, market opportunity and proposed use of funds. NESTA's tagline "making innovation flourish" underpins this grant and a major aspect of the grant process was demonstrating the innovative aspects of the business. Well, here at RBD-HQ we like to think that we not only have innovation in the design of our product but also in the design of our business plan, route to market and in our ambitious media and brand strategy, so we are extremely pleased to have this innovation formally recognised by NESTA.
Alongside the grant we will receive appropriate follow-on business support to ensure we spend the money on the more 'novel' aspects of our business rather than on the general administration and day to day 'busywork'. The business advisers will also send written updates back to NESTA charting our progress. We are embracing this opportunity with open arms and anticipate having a lot to report back to NESTA and your good selves!
See all 2008's grant recipients here
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