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Leigh Jenkins 

i2s innovation coaching helps SW company secure investment

Leigh Jenkins

21/04/2016
Angel tape - innovative lighting productDevon based artist, Julie Claire, has secured her company’s future and launched an exciting  new product into the lighting market following intensive  support from Enterprise Europe Network South West England (EENSW).
 
Julie Claire Limited creates low energy wall and ceiling lighting solutions for panels used in architectural projects and already has a number of high calibre customers including major retail outlets in the UK and USA.
 
Whilst researching the best back-lighting options for their illuminated panels the company decided that use of LED was the optimum solution, but soon realised the current solutions caused unsightly light diffusion surrounding the edge of the panel. After investigation they found there was no suitable alternative options.
 
To overcome this problem, the company has developed a new product called Angel Tape. This  easy to apply adhesive  tape is printed on clear film and is used to filter out hot-spots surrounding the acrylic panels/sheets, creating an even distribution of light.
 
With the UK lighting market worth £1.5 billion and the European market approximately 37 billion Euros Julie Claire Ltd saw the potential that Angel Tape offered.  Recognising the need to sustain core business growth whilst launching a new product, Julie was unsure of the next direction to take. She approached South West Angel Investors Network (SWAIN) for advice and help to secure funding who recommended the EENSW finance specialist, Phil Tellwright.
 
Working with EENSW’s intensive coaching programme, innovate2succeed, the company was given free specialist financial help and support, delivered by Phil Tellwright.  The first step was to review the company’s current position and identify key strengths, challenges and barriers to growth. 
 
Phil was then able to help the company explore their vision and plan the next steps to deliver their goals and  build a strong strategy for the future.  In addition Philip introduced Julie Claire to other members of EEN’s advisory team to help them with their legal and IP needs.
 
The innovate2succeed programme has helped Julie Claire produce detailed financial projections, identify the most appropriate funding sources and ultimately secure £120,000 of private investment.
 
Julie Claire, Owner and Director, said: 
“The support we received from Philip Tellwright through the Horizon 2020 innovate2succeed programme was fundamental to my company successfully completing an investment round of £120,000 combining both equity and loan finance from external investors.
 
“When Philip first became involved with Julie Claire Limited our discussions with potential investors had lost momentum and we were facing significant difficulties dovetailing the new investment into our existing structure.  Philip quickly identified the critical issues and helped us to plan a route forward.  He introduced us to new professional advisers and orchestrated the successful completion of the deal.  I do not think it would have happened without him.”
 
“Julie Claire Limited is now developing at great speed; our innovative patented solution which reduces light egression into LED lit display panels is now revolutionising our industry and with the benefit of the recent investment and the hard work of an enlarged management team we have already secured new contracts with two substantial blue chip customers.”
 
For more information on the innovate2succeed programme contact i2senquiries@businesswest.co.uk
 

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