A local entrepreneur developing an innovative new solar panel could now see his idea realised thanks to North East Access to Finance.
Paul Laidler came up with the plans for a solar generating panel, but struggled to find funding to turn it into a commercially viable venture. However, after attending advice workshops at Newcastle Science City, he was able to develop his practical knowledge as well as vital business contacts.
Paul, who is director of Northern Technology Developments Ltd, is now in talks with investors who could help him progress his invention, which will help businesses and home owners save significant amounts on their energy bills.
He commented: “Although I knew I had a sound business model and a great product I was totally in the dark about the funding available to businesses like mine.
“Through the workshops I not only identified sources of funding but I met a network of people who were in a position to give me practical advice and moral support.
“NEA2F directed me to its Experience Bank, which introduces young and growing businesses to experienced mentors and, within 24 hours of my appointment with them, I had four people on the phone offering support.
Alan Holmes, project director for NEA2F, said: “What young and growing businesses need is practical advice and guidance from people who know what they are talking about because they’ve been there and done it.“The workshops are part of NEA2F’s ‘Routes to Investment’ initiative and not only do they give the attendees the chance to get the best possible advice from professional experts and people with a proven track record but they enable them to actually put their business plans in front of genuine investors.”
As published on BDaily