Enterprise Fund

NEW LEADERS IN BUSINESS

Two tech businesses awarded £50,000 Enterprise Fund investment.

Technology is playing a key role in two exciting young companies that have recently earned a £50,000 investment into their business from the UEA Enterprise Fund. Safepoint and e-Surgery will each benefit from the highest possible level of financial support after pitching to the Enterprise Fund’s panel of entrepreneurs, business leaders and UEA alumni. Both will also receive ongoing advice as well as access to industry mentoring and an entrepreneurial support network.

SAFETY FOR LONE WORKERS

Safepoint, formed in 2017, aims to protect lone workers who work without direct supervision, including field engineers, security guards and community carers. A new system notifies a dedicated guardian if problems occur – so workers are never truly alone. Their Enterprise Fund investment will allow Safepoint’s founders to continue to expand their business and explore other ways of keeping lone workers safe. “Donors are helping us make sure that every lone worker makes it home safely at the end of their work day,” said CEO and co-founder Callum Coombes (CMP13). “We are now doing things that, without the funding, we wouldn’t have been able to do for another six months to a year. Thank you.”

IMPROVING ACCESS TO HEALTHCARE

Also awarded £50,000 was e-Surgery, a new online pharmacy business run by doctor Thuria Abduljhbar (MED12) and pharmacist Oskar Wendowski (PHA08). They developed a web app to provide access to medications and a valuable means of healthcare advice. “The Enterprise Team are absolutely fantastic,” said Oskar. In addition to the funding, “they have connected us with mentors in fields we had little previous experience in, for example an experienced journalist and the founder of a shipping fulfilment company.”

BACKED BY SUPPORTERS

Many Difference Campaign donors who choose to support the Enterprise Fund are experts in business themselves. Others wish to make a positive impact on the economy or support innovative young companies. “UEA was the beginning of my personal journey into the business world,” said donor Mike Hammond (SOC77). “Giving back has always been important to me and, when I heard about the Enterprise Fund, I wanted to help. My donation helps students and recent graduates to live out their ambition of starting a business and putting their ideas into practice. This was an opportunity that just didn’t exist when I was studying. “It has been good to meet and mentor students who are receiving Enterprise Fund support. Their ideas and energy are a tribute to the environment that exists today at UEA.”

BENEFITS BEYOND THE ECONOMIC

Although Difference Campaign gifts are supporting entrepreneurs, there are also social benefits that donors make possible. While it’s not a stipulation, many Enterprise Fund applicants are passionate about making a positive difference in the world. It’s called a triple bottom line impact – on people, profit and planet. For e-Surgery, the award has been life-changing – both for the people they are helping with access to prescriptions, and for the team themselves. “We’ve had so many positive reactions from patients,” Thuria added. “Thank you – your continued support will help many more businesses like ours that are just starting out.”

£3m

Enterprise Fund fundraising target

Centre: Sophie Cox, Student Enterprise Officer in the Enterprise Centre. Right: Callum Coombes (CMP13) and Nichita Misin (CMP16), co-founders, Safepoint.

THE VISIONARY ENTERPRISE FUND

The world of business is changing and, at UEA, we knew we must help our students stay ahead of the curve. But, while extraordinarily beneficial to students’ future prospects, launching a business alongside studies can be challenging. Data and technology offer exciting new opportunities, yet access to traditional investment and funding can be difficult. Our Enterprise Fund is almost unique within UK universities. Based in the award-winning UEA Enterprise Centre, we offer an armoury of tools and support to get businesses off the ground. Entrepreneurs can apply for financial grants and equity investments of up to £50,000, the returns of which will help the envisaged £3 million Fund become self-sustaining. Sophie Cox, Student Enterprise Officer in the Enterprise Centre, said: “One of the key things we tell donors is the leverage their money gets at this level. For not a great deal of money compared to bigger businesses, our entrepreneurs are making great videos, prototypes and apps. They are collaborating with inspiring people. We have such great resources for them.” The Enterprise Fund is open to all students during their course and up to three years after graduation. Founded in partnership with UEA alumni, we have awarded grants and investments of £238,900 to 16 businesses since the Fund’s launch, and continued the University’s long tradition of championing enterprise in everything we do.