Scottish Enterprise
Scottish Enterprise is Scotland's main economic development agency and a non-departmental public body of the Scottish Government.
Focusing on growing business, they work with partners in the public and private sectors to identify and exploit the best opportunities to deliver a significant, lasting effect on the Scottish economy.
Thier main website can be found here.
Another useful organisation created to help small companies and start-up's is Informatics Ventures, based on the campus of the University of Edinburgh.
In conjunction with Eden Scott, Steven Moore recently attended a teaming event with Informatics Ventures where my fellow Non-Executive Director panel member, Brian Scouler, provided us with the brilliant term “Awkward Friend” to describe the role of an NED teamed up with a start-up.
The "Awkward Friend" is there to challenge, be constructive, lend value and ask the daft questions.
What value can Valmar Group bring in a Non-Executive Director capacity or advisory role?
The IoD factsheet outlines the main duties of a Non-Executive Director. These tend to be focussed on the needs for governence.
Valmar Group works with small technology centric organisations that tend to demand a more agile and broad service. Depending on the stage of the business, there may be merit in commencing a Non-Executive role in a more advisory board role model. This could help the Non-Executive become more “hands-on” and integrated with the activities of the company as it develops and tests the business model, raises finance, gains traction in the market and recruits key personnel. However, the need for independence should be maintained to help provide an objective viewpoint.
As the business develops, the need for a more formal board is more applicable to help monitor the performance of executive management, especially with regard to the progress made towards achieving the determined company strategy.
The following three areas are viewed by Valmar as area's for consideration as the company grows:
1) Know the numbers and have a strong financial management system.
2) As early as practicable, implement a performance management system,
appropriate for the size of the business.
3) Focus on the customer and deliver tangible value.
The three main characteristics Valmar will bring:
1. Credibiity and professionalism.
2. Broadness of capabillity, interest and passion.
3. Adaptability and agility.
The needs of your business will depend on its stage in its genesis. Through an open and candid discussion, we could work together to determine a list of the most urgent priorities for your business.
These could be :
Panel of Non-Executive Directors at the Teaming with start-up's event, hosted by Informatics ventures and Eden Scott in Edinburgh, Scotland.
Steven discussing the growth potential of particle separation for enhanced filtration with Dr Brian Miller of uFraction8.
Determining, fine-tuning and testing your business model or pulling the business plan together.
Quantifying your market and promotion.
Technology management (IP management, compliance testing etc.).
Raising finance.
Developing strategic partnerships.
Engaging with key customers.
Gaining sales traction.
Building a core team.
Building a new facility.
Execution, delivery and follow up.
Some useful resources that might help:
How do SMEs use Non Executive Directors?
Aidan Berry Lew Perren, (2001),"The role of non-executive directors in UK SMEs", Journal of Small Business and Enterprise
Reasons and benefits for using Non-Executive Directors, Innovation Centers Scotland Ltd
Additional policy and research that may be useful with regard to growing your business
LATEST
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Author: Scottish Enterprise/YCF
Published: December 2015
Download: The Risk Capital Market in Scotland 2014
Author: Hunter Centre for Entrepreneurship
Published: October 2015
Download: Archangels: Impact evaluation of activites
Author: GEM Scotland
Published: September 2015
Download: GEM Report
Author: European Commisson
Published: September 2015
Download: CMU Action Plan
Author: Social Investment Scotland
Published: September 2015
Download: Social Impact Report 2015
Author: The Royal Society of Edinburgh Advice Paper
Published: August 2015
Download: The Royal Society of Edinburgh Advice Paper
Author: The Scottish Government
Published: September 2015
Download: The Market for SME Finance in Scotland
Author: CB Insights
Published: February 2015
Download: The 2014 U.S. Corporate Venture Capital Year in Review
Author: Enterprise Research Centre
Published: January 2015
Download: A Nation of Angels
Author: Silicon Valley Bank
Published: July 2014
Download: Innovation Economy Outlook UK
Author: Scottish Enterprise
Published: June 2014
Download: The role of acquisitions in company growth
Author: REAP Scotland Team
Published: June 2014
Download: Increasing Innovation-driven Entrepreneurship in Scotland
Author: The Royal Society of Edinburgh
Published: June 2014
Download: Advice Paper 14-06
Author: Jonathan Levie
Published: June 2014
Download: GEM Scotland 2013 Report
Author: World Bank/Kauffman Foundation
Published: April 2014
Download: Creating Angel Investor Groups
Author: NACO
Published: September 2013
Download: Report on Angel Investing in Canada
Author: Colin Mason, Tiago Botelho & Richard Harrison
Published: August 2013
Download: The Transformation of the Business Angel Market: Evidence from Scotland
Author: Twintangibles
Published: July 2013
Download: Crowdfunding - The Scottish Perspective
Author: Jonathan Levie
Published: June 2013
Download: GEM Scotland 2012 report
Author: Scottish Government
Published: May 2013
Download: Sustainable, Responsible Banking: A Strategy for Scotland
Author: Scottish Investment Bank
Published: January 2013
Download: Annual Review 2011/2012
Author: Scottish Enterprise/ Scottish Investment Bank/ Young Company Finance
Published: December 2012
Download: The Risk Capital Market in Scotland 2009-2011
Author: The Royal Society of Edinburgh
Published: October 2012
Download: The Financing of Business Innovation in Scotland
Author: Bill Payne
Published: October 2012
Download: Angel Group Valuation Survey
Author: Stefan Genet, Aberdeen University (Undergraduate Dissertation)
Published: August 2012
Download: A Review of Recent Developments in Scotland’s Early Stage Funding Market
Authors: Liam Collins & Yannis Pierrakis
Published: July 2012
Download: The Venture Capital - Crowdfunding Equity Investment into Business
Authors: Diane Mulcahy, Bill Weeks & Harold S. Bradley
Published: May 2012
Download: Ewing Marion Kauffman Foundation - 'We have met the enemy...and he is us'
Author: OECD
Published: December 2011
Download: Financing High Growth Firms - The Role of Angel Investors
Author: Daniel Lee Smith
Published:July 2011
Download: Support Programs for Young Entrepreneurs
Authors: Nicola J. Dee, Finbarr Livesey, David Gill, Tim Minshall
Published: September 2011
Download: Incubation For Growth
Authors: Colin M Mason & Richard T Harrison
Published: May 2011
Download: Annual Report on the Business Angel Market in the UK 2009/2010
Author: Department for Business Innovation & Skills
Published: July 2010
Download: Financing a Private Sector Recovery
Authors: Colin M Mason and Richard T Harrison
Published: June 2010
Download: Annual Report On The Business Angel Market In The United Kingdom : 2008/09
Authors: URS, Colin Mason, Lynton Jones and Stephen Wells
Published: March 2010
Download: The City's Role in Providing for the Public Equity Financing Needs of UK SMEs.
Authors: Stuart Paul and Geoff Whittam
Published: January 2010
Download: Business angel syndicates in Scotland - an exploratory study of gatekeepers
Author: National Audit Office
Published: December 2009
Download: Venture Capital Support to Small Businesses
Author: Chris Rowlands
Published: November 2009
Download: The Provision of Growth Capital to UK Small and Medium Sized Enterprises
Author: Consulting group led by Targeting Innovation
Published: November 2009
Download: The Risk Capital Market in Scotland 2008
The Risk Capital Market in Scotland 2008 - Executive Summary
Author: NESTA
Published: October 2009
Download: The Vital 6 per cent - How high growth innovative businesses generate prosperity & jobs
Author: BVCA/NESTA
Published: September 2009
Download: From Funding Gaps to Thin Markets. UK Government Support for Early Stage Venture Capital
Author: Professor Robert E Wiltbank, Ph.D. (Associate Professor of Strategy & Entrepreneurship, Willamette University).
Published: May 2009
Download: Angel Investor Performance & Strategy Data from the U.S. and U.K.
Authors: Dr Keith Johnston, Malcolm Greig and Professor Richard Harrison.
Published: September 2008
Download: The Risk Capital Market in Scotland 2005 - 2007
Authors: Yannis Pierrakis (Investments Research Manager at NESTA) and Colin Mason (Professor of Entrepreneurship at Strathclyde University)
Published: September 2008
Download: Shifting sands: The changing nature of the early-stage venture capital market in the UK
Authors: Scott Shane, Ph.D
Published: September 2008
Download: The Importance of Angel Investing in Financing the Growth of Entrepreneurial Ventures.
Author: Colin M Mason (Hunter Centre for Entrepreneurship, University of Strathclyde)
Published: September 2008
Download: Public Policy Support for the Informal Venture Capital Market in Europe: A Critical Review
Authors: Marc Cowling, Peter Bates, Nick Jagger, Gordon Murray (SOBE, University of Exeter)
Published: September 2008
Authors: Niels Bosma, Kent Jones, Erkko Autio and Jonathan Levie
Published: September 2008
Download: Global Entrepreneurship Monitor 2007 Executive Report