Next week will see our most recent funding and pitching event take place at Sun Microsystems, and it has just got even better with the announcement of our final two Pitch-preneurs.  Rapidly becoming a media favourite, AudioBoo will be joined by an exciting new venture from bethchange on behallf of their client the Big Issue.

Pitch-preneur 7: AudioBoo

Founder: Mark Rock Business Development and Strategic Partnerships Director: Karen Barber

Socially connected Audio

Audioboo is a platform for the creation, management and sharing of "Boos" or short audio clips. Using their mobile apps (currently iPhone, soon on other platforms), any third party app utilising our API, a phone or a web interface, users are able to speak and immediately publish their voice in high quality to Twitter, Facebook or to a player in any website. Since its launch in March 2009, Audioboo has had huge success with many well know bloggers (eg Stephen Fry, Leo Laporte) and media companies (BBC, ITV, Channel 4, Guardian) taking it up. A "Pro" version of the platform with web tools for managing, sharing and publishing Boo streams was launched in September 09 with 2 significant media companies already signed up.

Our belief is that audio and particularly, the spoken word audio, has been a neglected medium over recent years. In a world where 1) real time connectivity to friends, family and followed is increasingly desired and 2) mobile devices are becoming the most important tool for that connectivity there is a huge opportunity for social audio. Audioboo aims to capture that space; becoming the de-facto standard for audio content on the web and to make the term to "Boo" as common as to "Tweet".

Audioboo was founded by Mark Rock, a serial entrepreneur with a track record of success in the internet space. As well as Karen Barber, the senior management team consists of COO, Nick Hancock (who has a finance background before becoming an entrepreneur in the mobile/telecoms space) and CTO, Jonathan Del Strother (an experienced developer known for developing CoverFlow for OSX before selling it to Apple).

Pitch-preneur 10: bethechange for their client Big Issue Invest SEIF

UK Development Director: Lesley Pimm

bethechange is an international network of independent fundraising and non-profit specialists.

bethchange has been hired by the Big Issue to help launch the Big Issue Invest Social Enterprise Investment Fund (SEIF) LP.  The Investment Objective of SEIF is to offer medium to long-term structured growth capital to UK based social enterprises which create social value, have a high potential for growth, and can produce a financial return to investors.  Target size is 10 million pounds. Gross IRR of 10-12% with in excess of 5% net to investors, in addition to significant, measurable social returns. In order to receive funding from SEIF, enterprises must have a clear social purpose, robust business model, strong management and be able to demonstrate a sustainable revenue stream and potential for significant social impact.  Although the Fund is not bound by industry sectors, the expectation is that investments will be in five core areas: jobs, education and training; health and social care; environmental services; financial inclusion, and disability. The BII Social Enterprise Investment Fund will be managed by a team which combines both social entrepreneurs and senior investment professionals.  James Bevan and Helen Wildsmith from CCLA will both be Investment Committee members.  Ron Sheldon, Managing Director of Advent International, is the Independent Chair of the Investment Committee.  Nigel Kersahw, CEO of Big Issue Invest, will oversee the management of the Fund.  Edward Siegel will be the BII Director of Investment, with over 20 years of corporate finance, social investment and business consulting experience.  The Fund’s lawyers are Nabarro LLP and the first auditors will be KPMG LLP.