This case study highlights how a startup enterprise acquired and applied the shared prosperity funding from their local council.
BACKGROUND
Khayafrika is a UK startup founded by two African-born entrepreneurs, Muzi and Mpho Sibanda. Their vision is to bring African music and its cultural traditions to the multimillion market of international digital streaming listeners and events. Their plans include attracting corporate commercial sponsors, integrating African sounds and narratives with existing platform providers and developing new partnerships between creative developers to meet the growth in interest for African culture.
PARTNERING
They met a strategic innovation advisor, Clive Bonny, at an event in their local library intellectual property centre. Clive has been delivering business growth support services since 1990. His consulting firm, Strategic Management Partners, has proof of many successful projects with corporates, funding bodies, universities, and trade associations across the UK and abroad. Clive also has professional accreditations in consultancy, risk management, IP protection, and responsible business standards and was recently voted Entrepreneur of the Year by the Chamber of Commerce.
PLANNING
After the first meeting, Clive drafted a proposal to meet the council eligibility criteria for local economic growth and wider stakeholder engagement. The grant application was aligned to the local council strategy and was subsequently approved to support business continuity planning and intellectual property protection with high social value impact. Clive drafted a project plan with activities and outcomes for delivery over an 8-week period with regular online and face-to-face meetings.
ACTIVITIES
Initial reviews prioritised intellectual property and operational risks, identified potential future support partners and established standards to develop evidence of the founders responsible business management processes to meet UK Social Value Act standards. Clive introduced Muzi and Mpho to his partner associates in private equity funding, digital marketing and enterprise growth specialists. To help prepare for future venture capital funding Clive provided examples of successful investment pitch decks whilst providing due diligence advice to mitigate risks for future investors and accelerate investability.
OUTCOMES
The initial diagnostic reviews have led to drafting a business continuity plan, an IP protection strategy and alignment with national standards for responsible business management. Additional stakeholder support groups have been personally introduced by Clive for ongoing sustainability. Clive has also supplied detailed guidance for a shareholder agreement, director service contracts and how to tender for further funding applications. Supplying these essential contractual documents has saved the founders over £5000 in legal support costs. Clive says, “Funded support programmes are always more effective when tailored to client requirements. This project has created a plan to reduce startup risks with practical opportunities to scale up and accelerate growth by introducing Mpho and Muzi to my wider circle of successful owner-managers and private equity funders.”
Below, Clive Bonny introduces Muzi and Mpho Sibanda to one of his growth network groups of 25 business owners at the Mid Sussex Golf Club. Over 10 years ago, the Intellectual Property Office, Coventry University, and the British Library certified Clive as a Masterclass Intellectual Property Advisor. Clive’s funded workshop training shows how small enterprises can protect and licence intellectual property to attract private equity investment, meet national ESG Environment Social Governance standards, and scale up nationally and internationally at low cost.
For more info contact Muzi and Mpho Sibanda at info@khayafrika.com
Clive Bonny Clive@consult-smp.com tele 07973 799153
https://www.linkedin.com/in/clive-bonny-2644a16/
