Business News Extra

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Print company rise to staff challenge  3 Florist remains true to eco-friendly ethics  5 Spa brand prospers from humble roots  6 Out with the old, in with the new  8

Oct 2012

getsurrey.co.uk/business in association with

revolutionary software FRESH and exciting business ideas with the potential to turn into multi-million-pound global enterprises are being nurtured in a corner of Guildford. Mentoring, business support and advice on the all-important raising of finance is offered for by the Surrey 100 Club, based at Surrey Research Park next to the University of Surrey. The leading angel investment network in the south east allows promising start-up companies the chance to pitch their ideas to investors at regular Dragons Den-style meetings held at the university. It is part of a collaboration of services including SETsquared Surrey, its start-up business incubation and support network, and the Innovation Space Incubation Centre. Almost £11m of funding has been put into business through the 100 Club since it was formed in 2007. During the coming months, Business News Extra will reveal the secrets of winning over the investors at Surrey 100 Club meetings. September’s meeting saw pitches from six companies, including an innovative example from iGeolise, the subject of this issue’s feature. By Pete Bryant

pete.bryant@trinitymirror.com IT may not be time travel, but experts at a company in Guildford have invented travel time software that is set to revolutionise online customer service. Based at the Surrey Technology Park, the iGeolise team presented its platform that turns distance into time at the most recent Surrey 100 Club investors meeting. The meetings at the University of Surrey allow some of the most promising start-up companies to pitch their concept to an audience of potential investors. The iGeolise software will allow house hunters, for example, to search for properties within a certain journey time rather than within a certain number of miles of a location. At the meeting on September 19, co-founder and CEO Peter Lilley told the investors that the software had been developed due to the fact that 40% of web searches were for location-specific content, yet half failed to return the required information. “We need to accelerate our growth, and we need help to do that,” said Mr Lilley, who is asking for £250,000 in investment. “We have competition, but it’s indirect competition. There’s Google,

Peter Lilley, co-founder and CEO of iGeolise.

there’s always Google, but at the moment you can only search time by putting in a destination rather than searching.” Incorporated in July 2009, the company has secured grants from the University of Surrey and Technology Strategy Board. The iGeolise platform is now used by Adobe, AT&T and Mozilla for demonstrations and co-founder Charlie Davies last month at-

“It took a long time to get the idea to a stage where people would actually get it.” tended the Stream technology conference in Greece along with other guest companies including Google, Yahoo, Facebook and Microsoft. The software has been live in the UK since May this year, with one of its first customers being a dating website. Marks & Spencer has also expressed an interest in using the software to allow customers to find their nearest store by time, while Job Centre Plus may use the system to show potential commuting times. Speaking about the lead up to

the Surrey 100 Club pitch, Mr Lilley said: “It took a long time to get what started out as an idea on a piece of paper to a stage where people would actually get it.” Questions from investors following the pitch included a query on how accurate the results were. Mr Davies answered: “You can never be 100% accurate. If a ball rolls out in front of your car it slows you down. But the platform does include live updates, so, for example, if a train line is closed it will cut that out.” Another investor questioned the team further on whether Google might factor the idea into its service, but he was assured that the internet giant were not currently focusing on rivalling the technology. However. one of the most glowing references on the night came from Keith Robson, director of research and enterprise at the university, who said his daughter had just sealed a house rental having used the software to find a suitable location. Currently, Mr Lilley and Mr Davies take nothing out of the business, but, given the number of investors who asked for a demonstration of the software on the night, it may not be long before they are afforded that luxury.

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