Venturefest winner announced, awarded £52K of prizes
One company has taken away more than £50,000 of business support after winning the Venturefest Yorkshire 2014 investment competition.
Construction specialist Fast Form Systems Ltd beat off stiff competition from four other businesses to win at the awards dinner at York Racecourse.
The five pitches were judged by an audience of Yorkshire Association of Business Angels (YABA) investors at Venturefest Yorkshire, the annual event celebrating science and technology entrepreneurs in the north of England.
The winner, based in Cleethorpes, was selected by secret ballot, with judges scoring on the originality of the product, potential market size, business model, competitive advantage, management team strength and forecasted profitability.
The £52,000 prize package includes six months office space for the business at York Science Park alongside business coaching, accountancy, HR, publicity, legal and financial services support from some of the region’s top professional services firms.
“Fast Form Systems is building a business by offering environmental, safety and efficiency benefits to the construction industry, and I think the company will derive huge benefit from the prize package awarded today,” said YABA’s Barbara Greaves.
The other competition entrants included a grid-level electricity storage battery from Wind Power Performance; an Enterprise Social Network platform from TeamsTalk; the Queuedit social media management tool and a solar energy products company, Natural Technology Developments Ltd.