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Innovative start-ups unite to launch Next Generation Finance Consortium

“It’s time to move on from the bank bashing,” MarketInvoice co-founder tells crowd

Some of the UK’s most disruptive financial start-ups joined together to launch an innovative new initiative this morning.

The Next Generation Finance Consortium (NGFC) brings together expertise from eight progressive alternative finance providers, to deliver a programme of support to help entrepreneurs access the funds to launch and grow their businesses.

As well as offering a business support match-making service, regular practical workshops and events, the consortium will provide a free monthly guide to alternative financing on its website.

It will also liaise with government organisations for support on key issues and to keep the funding needs of small businesses on the government’s agenda.

The groundbreaking initiative is founded by two of Startups’ top 20 start-ups of 2011Crowdcube and MarketInvoice – along with the British Business Angels Association, Peoplefund.it, Capital Enterprise, the Community Development Finance Association, London Business Angels and North London Community Finance.

Introducing the event, Anil Stocker, co-founder of MarketInvoice, urged the 200-strong crowd of entrepreneurs and business figures to “move on from the bank bashing,” and to instead focus on solutions to the funding freeze.

He added: “The recent turmoil in the global financial markets, over the last five years, has drastically altered the landscape. The status quo is now being challenged and a revolution is occurring in how businesses think about funding in the future.

“As Bob Dylan once famously sang: ‘The times they are a changing.’”

Sam Gyimah, a former entrepreneur turned MP, who spearheaded the pioneering Beyond the Banks report with NESTA, echoed Stocker’s sentiments, saying:

“There are a lot of new businesses out there that are trying to provide credit to small businesses, with new models, and I’d like to see government initiatives supporting these.

“As we go through this recession, there is the opportunity to come out of this supporting people who are willing to take risks, and people who want to grow businesses and employ people. What we need is initiative and innovation.”

For more information, visit the Next Generation Finance Consortium website

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