Award of PKC12460 The Angel's Share

Tender description

Introduction The Angel’s Share was developed by Perth & Kinross Council to accelerate the growth of local, scalable businesses through angel investment, resulting in economic growth and the creation of high value jobs in our area. After a lengthy period of inactivity, engagement with local entrepreneurs and investors re-commenced in autumn 2021. This was followed by an in-person information event in March 2022, which was supported by Frejz Invest. In September 2022, a 7-month contract was awarded to Frejz Invest to enable the programme to move forward by identifying and coaching scalable businesses, upskilling the local business support network, and re-engaging the local investor community. The progress made has been significant and has created a firm foundation to continue the development and impact of the programme, however the programme is still in very early stages. Perth & Kinross Council is therefore seeking to award a contract to Frejz Invest for a further 7 months to build on the work to date and develop the programme further through a number of developing and new activities. The contract period is 1 September 2023 to 31 March 2024. Proposal The programme comprises a number of essential activities which are required to be aligned to ensure its success and full potential realised. Your proposal should therefore be structured in such a way as to clearly present your planned activities which will cover the scope of service, the output and the outcomes. Please include a monitoring framework with your plan of proposed activity. Project outputs and outcomes Success could be measured through a variety of outcomes, for example the number of businesses which secure investment. It could also be measured by the value of investment raised, jobs created, inward investment successes etc. Scope of Services Below is an outline of the services required to deliver this project, however you may also present additional methodology. Partner engagement: • Engaging with Perth & Kinross Council’s business support delivery partners to increase their advisors’ knowledge with the aim of helping them identify businesses which are suitable for an introduction to the Angel’s Share programme. • Where possible, utilising partners’ connections and networks to support the growth of the programme’s investor network; and identify businesses potentially seeking investment. Assessment and support (businesses seeking investment): • Assessing businesses for investment suitability and readiness. • Providing specialist 121 support. • Providing pitch preparation and coaching sessions. Pitching opportunities: • Arranging and delivering events for businesses to pitch to the programme’s investor network (virtual or in-person). • Supplying relevant information for investors (pre and post pitch where appropriate). • Utilising partners, their connections and networks to help identify relevant investors for specific pitches. Developing the investor / professional network: • Developing sessions or activities aimed at increasing awareness of the programme to increase the network. • Maintaining the existing network of investors and professionals. Benchmarking: • Developing a simple method to capture basic company metrics and monitor growth. Milestones Below is an outline for communication and reporting. Meetings will take place at Perth & Kinross Council, Pullar House or on MS Teams, unless otherwise agreed. Meetings and Reporting Meetings Monthly meetings will take place between yourself and the contract manager. These meetings will be used to update and discuss progress and upcoming activities. Reporting ❖ Monthly Reports A one-page report briefly detailing activity carried out during the preceding month and a plan of activity over the following month. These reports should be emailed to the contract manager on a monthly basis. The report may include information on the number of businesses assessed and the specific business