NEWS17 March 2011

Chime’s own Dragons’ Den to review investment opportunities

Financials UK

UK— Marketing communications group Chime has set up its own internal ‘Dragons’ Den’ with the aim of backing new businesses in the areas of PR, advertising, marketing services and research.

Like the BBC2 business show, entrepreneurs are being asked to submit their ideas to the new Chime Ventures unit. There they will be considered and those shortlisted will go on to pitch to a panel of businessmen and women drawn from Chime’s upper management, as well as outside specialists.

Ian Priest, a founder of one of Chime’s ad agencies, VCCP, is leading the search for investment opportunities. He said: “The communications marketplace is changing at an unprecedented rate which means more opportunities than ever for entrepreneurs to create and build new offerings.”

Applications can be made through the Chime Ventures website. The company says entries will only be considered if they are consistent with Chime’s business and complimentary to existing group companies. The business idea must also have the potential to earn a net profit of at least £500,000 after five years at a margin of 20% or more. Chime also expects to see examples of potential clients or customers who would be interested in the business.