Presentation from Cheshire East: Business Growth Lunch

1. Cheshire East
‘Helping your business
grow’ lunch event
Alderley Park
6 December 2016

2. Hilary Centeleghe
Senior Growth Manager – Growth team
Business Growth Hub

3. Agenda
• 12.00pm – Welcome and agenda, Hilary Centeleghe, Senior Growth Manager, Business Growth Hub
• 12.10pm – Welcome and introduction to the Business Support offering, Philip Kerr, Senior Investment Manager, The
Skills and Growth Company
• 12.15pm – Guest speaker – Growth: Katie Bancroft, Managing Director, Talent HR
• 12.30pm – Guest speaker – A2F: Elizabeth Thomas, Co-Founder and CEO, Alderley Analytical
• 12.45pm – Q&A
• 12.55pm – Closing remarks
• 01.00pm – Lunch and networking
• 02.00pm – Event close

4. Our Support Services – Cheshire East
Growth Services
Business Strategy
Marketing
Restructuring/change
management
New premises & planning
Meet the buyer
Access to Finance
Investment readiness
Introduction to specialist lenders
Innovation Support
Access GM & Cheshire Life Sciences Fund
Collaboration with R&D facilities e.g. HEIs
Innovation coaching
Innovate UK
EEN/Boost4Health

5. Cheshire Manufacturing Growth Service
• Grant fund for SME manufacturers.
• Impartial manufacturing expertise to assess opportunities.
• Recommendations to unlock growth and achieve improvements in
productivity and competitiveness.
• Revenue grant for additional consultancy support.
• £10K projects with 30% grant.
• In-scope Projects: Innovation, sales strategies, business systems,
operational efficiencies and excellence.

6. Contact us to find out more
MARK RENSHAW
Access to Finance Advisor – Cheshire East
Mobile: 07714 765998
Email: mark.renshaw@businessgrowthhub.com
Phone: 0161 359 3050
Email: info@businessgrowthhub.com
www.businessgrowthhub.com
@bizgrowthhub +Businessgrowthhub Business Growth Hub

7. Contact us to find out more
CHRIS GUNNING
Business Growth Advisor – Cheshire East
Mobile: 078315 543604
Email: chris.gunning@businessgrowthhub.com
Phone: 0161 359 3050
Email: info@businessgrowthhub.com
www.businessgrowthhub.com
@bizgrowthhub +Businessgrowthhub Business Growth Hub

8. Philip Kerr
Senior Investment Manager
The Skills and Growth Company

10. Performance
Framework
Philip Kerr
Senior Investment Manager
The Skills & Growth Company

11. Performance
Framework
Everyone deserves the opportunity
to succeed and every business the
opportunity to thrive.

12. Performance
Skills &
Employment
Innovation &
Growth
Business Support
& Investment
Business Functions
• Top 100
• HGSMEs
• Rural Business
• Inward Investors

13. Performance
Framework
Local Knowledge & Connections
Dedicated
Account
Managers
• Single point of contact
• Detailed analysis and Growth Plan
• Fast-track access to support
Intro to
Council
Services
• Planning & Assets
• Regulatory Services
• Highways & Parking
Commercial
Property
Service
• Property finding service
• Bespoke research and analysis
• Advice on business rate discounts
Performance
Framework
Enabling
Development
• Growing Places Fund
• Enterprise Zones
• Inward Investment

14. Providing Specialist Support
Access to
Business
Finance
• Sourcing commercial finance
• Support with funding applications
• External funding providers
Innovation
& Growth
Expertise
• Bespoke business planning advice
• Identify challenges and opportunities
• Access specialist programmes
Meeting
Your
Needs
• Travel planning service
• Energy and resource efficiency
• Selling to the public sector
Skills &
Training
Support
• Training Needs Analysis
• Advice on Apprenticeship Levy
• Engagement with local schools

15. Sector Specific Support
Manufacturing
• Manufacturing Support Service
• Product Development Expertise
• Process Improvement
Creative &
Digital
• Digital 20:20
• WEAVE ‘Sector Taskforce’
• Digital Growth Fund
Life
Sciences
• GM & Cheshire Life Science Fund
• Science Corridor Enterprise Zone
• BioHub – managed workspace
Rural &
AgriTech
• Business planning
• Identifying relevant funding streams
• Help with application process

16. Case Studies

17. www.skillsandgrowth.co.uk
Twitter: @SkillsandGrowth

18. Katie Bancroft
Managing Director
Talent HR

19. A Story of Growing Talent
Katie Bancroft, Managing Director

20. A Single Idea…
#hrwithpersonality
#notapushyrecruiter

21. Expectations…

22. The ‘Learning’ Points
 Identity, ideas and intelligence
 Marketing to the market
 Focus with absolute clarity

23. ‘The Talent partner of choice’
A Single Mission

24. Thank you

25. Elizabeth Thomas
Co-Founder and CEO
Alderley Analytical

26. ALDERLEY ANALYTICAL
Investment for growth
Elizabeth Thomas
CEO
2014 Winner of the Cheshire East “Start up of the Year” award

27. About Us
• Alderley Analytical is a strategically well placed, specialist, bioanalytical Contract Research
Organisation (CRO) offering value enhancing, differentiated services to a range of clients. The
company has GLP/GCP (regulatory) accreditation
• A USP for the company is the ability to take in-depth bioanalytical knowledge of a drug from the
discovery phase and, with GLP/GCP accreditation, into the development (clinical) phase
ensuring early knowledge of the molecule is not lost. To date this has been the domain of larger,
more generalist, less flexible CRO’s
• The company was set up (in Alderley Park) in Jan 2014 by 4 industry experts with over 100 years
experience in tier 1 CRO’s and top ten Pharma who identified the above gaps in the CRO market,
backed up by market research
2014 Winner of the Cheshire East “Start up of the Year” award

28. Technology – Investment from world largest instrument manufacturers
• We have access to industry leading instrumentation and “next generation” instruments
providing us with a competitive edge.
• Two of the world’s largest Instrument manufacturers, Waters and Thermo Fisher Scientific have
set up collaborations with us and have placed some of the ‘next generation’ instruments in our
lab
2014 Winner of the Cheshire East “Start up of the Year” award

29. Why are our services needed?
• Bioanalysis is the quantification of a drug in the body at a particular time. It is essential for the
pharmaceutical industry. It ultimately ensures that the right dose of medicine gets to the right
patient, saving or enhancing lives.
• Increased level of outsourcing within the Pharmaceutical industry.
• Limited number of niche, specialist bioanalytical providers who also have GLP/GCP
accreditation
Our primary customers
• Pharmaceutical Companies
• Biotechnology Companies
• Clinical CRO’s
• Hospitals
• Academic Institutions
Human and Animal Health
New target customers
• Agrochemical Companies
• Cosmetic Industry
• Veterinary Care
• Personal Care
2014 Winner of the Cheshire East “Start up of the Year” award

30. Our Challenges
• Cost of laboratory facilities and equipment
• Building a solid customer base
• Being viewed as ‘risky’ by customers as we were new, small, potentially
financially unstable
• Being viewed as ‘risky’ by potential (institutional) investors as we were new,
small, potentially financially unstable. Investors not willing to consider £600K
investment at this early stage.
Example of customer feedback – ‘We really like you guys and you have fantastic
skills and knowledge. We would like to work with you but you would need to have
at least 3 instruments and about 9 people before we could seriously consider it’
2014 Winner of the Cheshire East “Start up of the Year” award

31. Reacting to our challenges
• Initially self-funded, short term only
• Basic Marketing, business cards, ‘flyers’
• Used our networks – calls, emails, visits
• Researched new companies/customers – calls, emails, visits
• Explored the possibility of securing £300K as a first investment
2014 Winner of the Cheshire East “Start up of the Year” award

32. Investment - First round
2014 Winner of the Cheshire East “Start up of the Year” award
• In July 2014 Alderley Analytical recognised that £600K investment would be required to
create a viable bioanalytical CRO. However, we received feedback that we should look to
secure a smaller amount to allow us to grow which would then provide some comfort
for future investors.
• In Q4 2014 we engaged with A2F and some Institutional Investors. Pitched to Business
Angels and Institutional Investors and had some interest from both groups. Speaking to
colleagues in the BioHub and other life science companies it ‘felt’ that we should be
looking to get investment from Institutional Investors, and look to them for follow in
money.
• In May 2015, after many meetings and financial discussions, we secured £300K
investment - £200K from APV (Alderley Park Venture Fund) and £100K from Spark
(North West Fund for Biomedical). This was APV’s first investment.

33. Investment - Second Round
2014 Winner of the Cheshire East “Start up of the Year” award
• First round Investment allowed the company to grow – from 4 to 6 people, 2
instruments, increased revenues
• In January 2016 we started to think about second round investment of £300K. We had
received indications of follow on support for up to 50% of the amount sought £150K)
from APV but Spark did not have a suitable fund so they were unable to follow on.
• Pitched again to Institutional Investors early March 2016. Had some interest but it was
really slow and felt obstructive at times. We didn’t feel that this was right for us
• Contacted A2F (John Moore) on 23 March 2016 to see if they could help.

34. Investment - Second Round
2014 Winner of the Cheshire East “Start up of the Year” award
• Several very useful coaching calls and meetings with A2F (John Moore)
• 6 minute presentation rehearsed and finalised
• Pitched to NWBA for £150K on 11 May 2016, Manchester

35. Outcome
2014 Winner of the Cheshire East “Start up of the Year” award
• Spoke to 4 Business Angels at the end of the pitching event on 11 May 2016
• Two additional Business Angels contacted me by email in the following week. Sent out
business plan and financial information to all 6 Business Angels. Meetings, more
questions, more financial information. More meetings, more questions, more financial
information. More meetings….
• Received offers of £350K – we had only pitched for £150K
• Secured £300K from NWBA, did not take any further investment from Institutional
Investors
• Deal Signed 18 Nov 2016

36. Lessons Learned
2014 Winner of the Cheshire East “Start up of the Year” award
• Securing investment can take a lot of time and effort
• Ask for help. There are a lot of people and sources out there, and some are here today
• Institutional Investors and Business Angels can be quite different. eg Institutional
Investors may want preference shares or non dilution clauses but they might have a
better understanding of your business sector. Business Angels may be more willing to
get involved and help with ‘business’ experience eg sales, marketing etc
• Always consider what help you need and what help an investor can bring you
• Your requirements will probably change over time

37. Thank you for listening
2014 Winner of the Cheshire East “Start up of the Year” award
Elizabeth Thomas
Tel: 07710 658068
Email: elizabeth.thomas@alderleyanalytical.com
Web: www.alderleyanalytical.com

38. Q&A

39. Hilary Centeleghe
Senior Growth Manager – Growth team
Business Growth Hub

40. Please leave your feedback
Please take a couple of minutes before the
networking to complete the feedback form and
return it to the Hub staff