[{"text_idx": "#000002", "text": "\u201cThe first question to ask yourself is, do you need funding?\u201d"}, {"text_idx": "#000003", "text": "A business normally needs funding if it\u2019s pre-revenue, is scaling up, you want to speed up time to market, creating R&D, or for short-term operations. The pre-revenue stage of Bootstrap to Seed funding is the stage where 9/10 start-ups fail \u2013 the affectionately known \u2018valley of death\u2019!"}, {"text_idx": "#000004", "text": "\u201cThe first stage of any business is the ideas stage.\u201d"}, {"text_idx": "#000005", "text": "In this stage you\u2019re looking at bootstrap funding, developing ideas and an initial business plan. There are a lot of funding options at this stage! Family and friends, Angels, Government, Accelerators, Crowd Funding, Private Equity or Venture Capitalists."}, {"text_idx": "#000006", "text": "\u201cI started off using my own savings, getting a co-founder, seeking support through Incubators, and competitions/grant funding.\u201d Billy said, holding back on a large funding application at the start, as he wanted to learn more about what the company was going to be \u2013 and to convince his co-founder to join!"}, {"text_idx": "#000007", "text": "At the same time they put a business model together, learned how to spend (and save!) money, started confirming ideas, and put a founder\u2019s agreement together. Billy notes this is your business pre-nuptial and choosing your business partner is as important as choosing your spouse! Importantly, Billy also spent this time finding out if there was a market for what they were trying to do."}, {"text_idx": "#000008", "text": "The next stage was to apply for an Innovate UK grant \u2013 the positive being that it was zero equity funding \u2013 and Cufflink applied three times! They failed the first time, took on feedback and submitted again, and were third-time lucky. The cons of Innovate UK funding are that it\u2019s extremely competitive. It also only funds a % stage, so you need to find match-funding."}, {"text_idx": "#000009", "text": "\u201cThey give you brilliant feedback.\u201d Billy said. \u201cWith four assessors\u2019 feedback as well, which is so helpful. Plus, if you go for another grant, you have that template and can at least copy/paste your answers and save time. Many grant forms ask the same or similar questions.\u201d"}, {"text_idx": "#000010", "text": "Other funding options, an overview:\nCompetitions, like \u2018hacks\u2019 and so on, tend to request equity in return. Not all, but many, will do this. However, they can be a good way to secure a quick round of funding.\nIncubators and Accelerators don\u2019t ask for equity, and there are 153 active incubators currently in the UK.\nGovernment. This includes R&D Tax, SBRR, CIF and more. There is no equity, but they can be temporary and there is also a limit to how many people apply \u2013 they can go overnight!"}, {"text_idx": "#000011", "text": "Once funding was secured for Cufflink\u2019s pre-seed stage, they were able to start employing people and writing the full business plan. This was used for the next seed round. Billy also started thinking about Intellectual Property (IP) at this point."}, {"text_idx": "#000012", "text": "\u201cPre-Seed buys you time! Time to understand your product, route to market, perspective clients, and form a proper company.\u201d"}, {"text_idx": "#000013", "text": "Seed funding was the next stage. Now based at M-SParc, Anglesey, Cufflink are pleased to announce that they have raised over \u00a3500,000, through both equity and grant based funding to help continue to develop the Cufflink solution, keeping your personal data safe. The Enterprise Hub @ M-SParc was able to offer business support in order to help secure this funding."}, {"text_idx": "#000014", "text": "Led by the Development Bank of Wales and alongside their London-based Angel investors, this funding will allow them to build the Cufflink app and SaaS whilst helping to retain and build the team at M-SParc, as well as with remote staff."}, {"text_idx": "#000015", "text": "This seed funding will compliment additional funding received by Innovate UK \u2013 the UK Government\u2019s innovation agency \u2013 which was secured in collaboration with Bangor University, led by Prof. Andrew McStay and Prof. Vian Bakir, to continue research into the wider ethical issues surrounding personal information management systems."}, {"text_idx": "#000020", "text": "\u201cCufflink is a really exciting cyber security firm with an exceptionally promising future. As a long-term equity partner, we are delighted to be co-investing alongside Angel investors and continuing our collaborative work with Innovate UK, Bangor University and M-SParc. Our collective impact is making a real difference and we\u2019re looking forward to supporting Cufflink on their journey.\u201d"}, {"text_idx": "#000021", "text": "\u201cIt\u2019s fantastic to see Cufflink receiving both public and private support as part of their successful funding round. This is exactly the sort of innovation we want to see develop at M-SParc, creating highly skilled careers and encouraging others to innovate and venture into business. Companies like Cufflink confirm it\u2019s possible to grow and prosper in North West Wales and we continue to see new and exciting opportunities develop in the ecosystem.\u201d"}, {"text_idx": "#000022", "text": "\u201cY cwestiwn cyntaf i'w ofyn wrthych chi eich hun yw, ydych chi angen cyllid?\u201d"}, {"text_idx": "#000023", "text": "Fel arfer, mae angen cyllid ar fusnes os yw ar gyfnod cyn-refeniw, yn datblygu, rydych chi am gyflymu\u2019r amser cyn cyrraedd y farchnad, creu ymchwil a datblygu, neu ar gyfer weithrediadau tymor byr. Y cyfnod cyn-refeniw Cychwynnol i Sbarduno yw'r cam lle mae 9/10 o fusnesau newydd yn methu \u2013 'dyffryn marwolaeth' fel mae\u2019n cael ei alw!"}, {"text_idx": "#000024", "text": "\u201cCam cyntaf unrhyw fusnes yw'r cam syniadau.\u201d"}, {"text_idx": "#000025", "text": "Yn ystod y cam hwn rydych chi\u2019n edrych ar gyllid cychwynnol, datblygu syniadau a chynllun busnes cychwynnol. Mae llawer o opsiynau ariannu ar y cam hwn! Teulu a ffrindiau, Angylion, Llywodraeth, Cyflymyddion, Cyllid Torf, Ecwiti Preifat neu Fenter Cyfalafwyr."}, {"text_idx": "#000026", "text": "\u201cDechreuais ddefnyddio fy nghynilion fy hun, cael cyd-sylfaenydd, ceisio cymorth drwy'r unedau hybu, a chystadlaethau/cyllid grant.\u201d Meddai Billy, gan ddal yn o\u0302l ar gais mawr am gyllid ar y dechrau, gan ei fod am ddysgu mwy am yr hyn yr oedd y cwmni'n mynd i fod \u2013 ac argyhoeddi ei gyd-sylfaenydd i ymuno!"}, {"text_idx": "#000027", "text": "Ar yr un pryd, fe wnaethant roi model busnes at ei gilydd, dysgu sut i wario (ac arbed!) arian, dechrau cadarnhau syniadau, a rhoi cytundeb sylfaenydd at ei gilydd. Mae Billy'n nodi bod hwn yn gyfatebol i gytundeb cyn-priodi ar gyfer eich busnes ac mae dewis eich partner busnes yr un mor bwysig a\u0302 dewis eich priod! Yn bwysig, treuliodd Billy yr amser hwn hefyd yn darganfod a oedd marchnad ar gyfer yr hyn yr oeddent yn ceisio'i wneud."}, {"text_idx": "#000028", "text": "Y cam nesaf oedd gwneud cais am grant Innovate UK \u2013 y peth cadarnhaol oedd mai cyllid dim ecwiti ydoedd \u2013 a gwnaeth Cufflink gais deirgwaith! Fe wnaethant fethu\u2019r tro cyntaf, cymryd adborth a chyflwyno eto, ac roeddent yn lwcus y trydydd tro. Anfanteision cyllid Innovate UK yw ei fod yn ofnadwy o gystadleuol. Mae hefyd ond yn ariannu cam %, felly mae angen i chi ddod o hyd i arian cyfatebol."}, {"text_idx": "#000029", "text": "\u201cMaen nhw'n rhoi adborth gwych i chi.\u201d Meddai Billy. \u201cGydag adborth pedwar asesydd hefyd, sydd mor ddefnyddiol. Hefyd, os byddwch yn mynd am grant arall, mae gennych chi\u2019r templed hwnnw a gallwch o leiaf gopi\u0308o/gludo eich atebion ac arbed amser. Mae llawer o ffurflenni grant yn gofyn yr un cwestiynau neu gwestiynau tebyg.\u201d"}, {"text_idx": "#000030", "text": "Mae cystadlaethau, fel 'haciau' ac yn y blaen, yn tueddu i ofyn am ecwiti yn gyfnewid am hynny. Ni fydd pob un yn gwneud hyn, ond bydd llawer yn gwneud hyn. Fodd bynnag, gallant fod yn ffordd dda o sicrhau cylch ariannu cyflym.\nNid yw Unedau Hybu a Chyflymwyr yn gofyn am ecwiti, ac mae 153 o unedau hybu gweithredol yn y DU ar hyn o bryd.\nLlywodraeth. Mae hyn yn cynnwys Treth Ymchwil a Datblygu, SBRR, CIF a mwy. Nid oes ecwiti, ond gallant fod dros dro ac mae terfyn hefyd i faint o bobl sy'n gwneud cais \u2013 gallant fynd dros nos!"}, {"text_idx": "#000031", "text": "Unwaith y sicrhawyd cyllid ar gyfer cam cyn-sbarduno Cufflink, roeddent yn gallu dechrau cyflogi pobl ac ysgrifennu'r cynllun busnes llawn. Defnyddiwyd hwn ar gyfer y rownd sbarduno nesaf. Dechreuodd Billy feddwl hefyd am Eiddo Deallusol (IP) ar hyn o bryd."}, {"text_idx": "#000032", "text": "\u201cMae cyn-sbarduno yn prynu amser i chi! Amser i ddeall eich cynnyrch, llwybr at y farchnad, cleientiaid persbectif, a ffurfio cwmni priodol.\u201d"}, {"text_idx": "#000033", "text": "Cyllid sbarduno oedd y cam nesaf. Bellach wedi'i leoli yn M-SParc, Ynys Mo\u0302n, mae Cufflink yn falch o gyhoeddi eu bod wedi codi dros \u00a3500,000, drwy gyllid ecwiti a chyllid sy'n seiliedig ar grantiau i helpu i barhau i ddatblygu datrysiad Cufflink, gan gadw eich data personol yn ddiogel. Llwyddodd yr Hwb Menter @ M-SParc i gynnig cymorth busnes er mwyn helpu i sicrhau'r cyllid hwn."}, {"text_idx": "#000034", "text": "Dan arweiniad Banc Datblygu Cymru ac ochr yn ochr a\u0302'u Hangylion buddsoddi yn Llundain, bydd yr arian hwn yn eu galluogi i adeiladu ap Cufflink a SaaS tra'n helpu i gadw ac adeiladu'r ti\u0302m yn M-SParc, yn ogystal a\u0302 staff o bell."}, {"text_idx": "#000035", "text": "Bydd yr arian sbarduno hwn yn ategu cyllid ychwanegol a dderbyniwyd gan Innovate UK \u2013 asiantaeth arloesi Llywodraeth y DU \u2013 a sicrhawyd mewn cydweithrediad a\u0302 Phrifysgol Bangor, dan arweiniad yr Athro Andrew McStay a'r Athro Vian Bakir, i barhau i ymchwilio i'r materion moesegol ehangach sy'n ymwneud a\u0302 systemau rheoli gwybodaeth personol."}, {"text_idx": "#000038", "text": "\u201cMae'n wych gweld cwmni arobryn fel Cufflink yn llwyddo yng Ngogledd Orllewin Cymru. Maen nhw\u2019n gyffrous ac yn arloesol ac yn dod a\u0302 chyfleoedd sgiliau uchel i'r ardal. Dyma'r math o greadigrwydd ac uwch-dechnoleg yr oeddem yn gobeithio y byddai M-SParc yn ei ysbrydoli yn y rhanbarth ac mae gennyf ddiddordeb mawr mewn gweld sut maen nhw\u2019n parhau i ddatblygu a thyfu yn y sector deinamig hwn.\u201d"}, {"text_idx": "#000040", "text": "\u201cMae Cufflink yn gwmni seiberddiogelwch cyffrous iawn gyda dyfodol eithriadol o addawol. Fel partner ecwiti hirdymor, rydym yn falch iawn o fod yn cyd-fuddsoddi ochr yn ochr ag Angylion Buddsoddi a pharhau a\u0302'n gwaith cydweithredol gydag Innovate UK, Prifysgol Bangor ac M-SParc. Ein heffaith cyfunol yw gwneud gwahaniaeth go iawn ac rydym yn edrych ymlaen at gefnogi Cufflink ar eu taith.\u201d"}, {"text_idx": "#000042", "text": "\u201cMae'n wych gweld Cufflink yn derbyn cymorth cyhoeddus a phreifat fel rhan o'u cylch ariannu llwyddiannus. Dyma'r union fath o arloesi yr ydym am ei weld yn datblygu yn M-SParc, gan greu gyrfaoedd medrus iawn ac annog eraill i arloesi a mentro i fusnes. Mae cwmni\u0308au fel Cufflink yn cadarnhau ei bod yn bosibl tyfu a ffynnu yng Ngogledd Orllewin Cymru ac rydym yn parhau i weld cyfleoedd newydd a chyffrous yn datblygu yn yr ecosystem.\u201d"}]