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NISPO Funds (E-Synergy Northern Ireland)
12-03-2011, 08:41 PM (This post was last modified: 12-03-2011 08:54 PM by Thomas.)
Post: #1
NISPO Funds (E-Synergy Northern Ireland)
Yet another potential funder, perhaps the most promising so far. They have an office in Belfast and exist specifically to provide grants of £10 000 - £40 000 to small, start up hi tech companies like Causeway Games. Whats more, unlike the princes trust it appears there is no pre-qualifier of having to be or not be recieving benefits to be eligible.

Their homepage
http://www.nispofunds.com/

Their portfolio of beneficiaries
http://www.nispofunds.com/portfolio.html

It turns out they are affiliated to Invest NI, but Invest NI does not communicate well with its sister departments or affiliates which is why they failed to advise us about E-synergy. I would not have found out about this had it not been for a chance meeting in Tesco earlier today with one of my colleagues from work who has already recieved £10 000 from this organisation and is planning to apply for another £40 000.

I think if we apply for the £40 000 this will both enable us to pay for the office expenses and enable 3 of us to enter full time professional development immediately.

Thomas Gray - Chairman and Lead Designer Causeway Games
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13-03-2011, 09:41 AM
Post: #2
RE: NISPO Funds (E-Synergy Northern Ireland)
That's interesting and certainly worth applying for, however I think that we have to get a few things sorted before we do apply especially with regard to the structure of the team as no one is going to invest in us based on our current makeup.

Also if we were lucky enough to get £40k I don't think that this would be enough for 3 people to work full time unless you are thinking in terms of 6 months?
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14-03-2011, 12:00 PM (This post was last modified: 14-03-2011 07:50 PM by Thomas.)
Post: #3
RE: NISPO Funds (E-Synergy Northern Ireland)
(13-03-2011 09:41 AM)Stuart Wrote:  That's interesting and certainly worth applying for, however I think that we have to get a few things sorted before we do apply especially with regard to the structure of the team as no one is going to invest in us based on our current makeup.

Also if we were lucky enough to get £40k I don't think that this would be enough for 3 people to work full time unless you are thinking in terms of 6 months?

I phoned these people today to make a prelimary enquiry. They said as long as we have innovative new ideas that is the main thing but it is a VC group. So if we take their money we will have to forfeit equity. Given the stubbornness of the banks and government bodies we may not have much choice if we're to get this off the ground anytime soon.

She said to check out their 'invest growth fund' and to e mail our executive summary to fergus mcilduff once we're ready to apply. If they are interested they'll call us for an interview.

Thomas Gray - Chairman and Lead Designer Causeway Games
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