Through a network of Partners Med Tech Wales will aim to introduce clients to a range of services, aimed to support their development and delivery of their Business Plan. These will include:
Accommodation in Innovation House at attractive terms
Access to Finance
Grant Application Support
NHS Clinical studies & trials
Insufficient planning and funding have led to many innovators having to relinquish control of their businesses in order to get their exciting products and services to market. Invariably inadequate budgeting, too much equity given away in early funding rounds, protracted and higher development costs, route to market challenges, etc represent only a few of the challenges in establishing a successful business.
Through our partners Capital Kinetics Ltd support will be available to assist the production of Business Plans as opposed to the current trend for Information Memorandum documents which invariably build excitement around the product or service but not the viability of building a successful business
‘A PITCH DECK OR INFORMATION MEMORANDUM IS NOT A BUSINESS PLAN’
Grants and match funding support may be available for the production of business plans subject to qualifying criteria.
MTW have secured a line of funding that is available to support MedTech businesses located in Monmouthshire. MTW also has access to a number of funders including Monmouthshire County Council, The Development Bank of Wales, private investors, private family offices and third party secured lenders.
Whilst the funding will look to attract a competitive rate of return, they can be structured with terms and conditions that will allow subsequent funding rounds. There is no fixed formula with each application being considered on its own merits and terms being set that are fair for all parties involved
A sound business proposition will be required to support a funding request but other factors such as local job creation will be considered when loan approval is being reviewed.