"One to Watch: WirelessMatch" - April 2005 - Director, Magazine of the IOD
Rising star: Steven Dotsch What he does: Brings start-up wireless companies together with investors What's so special? It offers investment between £50,000 and £1.5m
With over 20 years of experience as a venture capitalist and international corporate financier, Steven Dotsch spotted the gap for his new business, WirelessMatch, a mile off. As non-executive director of wireless business incubator Move2Mobile, Dotsch was well aware of the funding gap for wireless
start up companies and decided to set up a network to bring them and investors together.
"The biggest decelerator for start-up wireless companies is a shortage of money", says Dotsch. "Many businesses start up with money from family and friends and perhaps a grant, then they hit a brick wall". Once they get to the final stages of developing a wireless technology, they need extra investment for marketing, PR, recruitment and to make their first sale. But having investigated the marketplace, Dotsch and his team found there was no wireless funding network around able to offer the £50,000
to £1.5m needed to grow to this next level.
"There are investors out there and wireless technology companies out there, but they can't find each other", says Dotsch. "Too much time is wasted waiting for investment. Our network puts them together".
Businesses seeking finance are reviewed by WirelessMatch, providing investors with access to pre-screened investment opportunities in the telecoms and wireless sectors. If a company is not ready for investment, it will be referred to another organisation such as Move2Mobile, which can help fill the gaps to get it investment-ready.
Once investors and companies are signed up, investors can see details of the companies, but not vice versa. This prevents investors being hassled.
Dotsch sees opportunities for similar networks in other sectors. "Success breeds success, so a few success stories could help other companies secure the right funding".
