FEATURE26 January 2015

Growing from the seed of an idea

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LivingLens co-founder Carl Wong gives a first-hand account of the processes involved in securing funding.

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LivingLens grew from the seed of an idea concerning how to combat the difficulties that video presents to the market research industry and generate real value from it. Having spent the past 15 years in the industry, I recognised the value of the idea, but realised that the build and reaching out to the right people in the right businesses was another kettle of fish. 

My co-founder, David Woods, and I scraped together enough money to build a working prototype but realised we needed substantially more to capitalise on the opportunity. After a particularly unproductive appointment at the bank – think ‘computer says no’ scenario – we concluded that banks are not for start-ups, no matter how great your proposition.

Cue, the bigger picture…I started to think about whether we could get equity investment to kick-start LivingLens, and how on earth to go about it. To fill my knowledge gap I enrolled on a government funded programme: Growth Accelerator, specifically the Access ...