Start-up businesses need to be more investor-friendly, says venture expert

Fergal McCann, venture capital expert and lead adviser with InterTrade Ireland, the cross-Border business development body, said there was no shortage of funding available to entrepreneurs but businesses needed to do more to attract interest from venture capitalists.

"Contrary to what some believe, the relatively low uptake of private equity on the island is driven, not by a lack of funds, but by a lack of investor readiness among companies seeking funding,” said Mr McCann. Equity Network, the InterTrade Ireland-backed agency that supports businesses looking for equity finance, will hold a conference next month to increase awareness of the skills necessary to attract venture capital funding.

“The conference will outline what investors are looking for, and delegates will be able to question and learn from those who have used private equity to establish and grow multi-million euro organisations that have a global reach,” said Mr McCann.

The conference will take place in Belfast’s Waterfront Hall on March 11. Speakers will include local and international venture capital experts, including Ken Morse, chairman of the entrepreneurship centre at Boston’s Massachusetts Institute of Technology, and Tom Schreiber, president and chief operating officer of TouchSensor, a Chicago-based electronics business.

Pfizer assistant director Roger Hill and Owen Murphy, director of venture capital firm ACT, which manages investments totalling €350m, will also give talks at the event. Delegates will examine topics such as sources of funding, entrepreneurship and identifying customer needs.

Mr McCann said recent reports suggested global private equity investment was on track to increase for the first time in two years.