17thJun 2011

SETsquared Business Acceleration in Action

Member since March 2007, Membership level Alumni

The Gnodal founding team joined SETsquared Bristol in March 2007. The team were already a world class, proven, technical team with a twenty year track record. What was missing was a lot of polish, a stronger commercial focus and funding. The team needed a sanctuary to start up a business in a private, low cost and supportive environment whilst they remained under the radar. Their idea was to develop a novel, innovative solution that would be a major disruption in the large Ethernet network market and help customers massively improve performance of their networks.

SETsquared provided early support and mentoring on drafting their executive summary, developing their investment proposition, business plan and investor presentations. Along the way the bespoke approach of the SETsquared support model allowed the team to benefit from coaching in our tough but constructive environment, take advantage of the many networking opportunities and subsequent introductions, to pick and choose from the many workshops and clinics on offer to all the ventures and enjoy the experience of pitching at the London Investor event in October 2009.

Since these early days Gnodal has been successful in raising several rounds of investment and a number of grants. It has grown from a few guys to 20 people and graduated from SETsquared in late 2009. The company is close to having prototypes and shipping first product to early customers, placing them well on the way to capturing the pent up demand for their solution.

The track record and reputation of SETsquared Bristol, recognised as best established UK incubator by the UKBI, enables the team to leverage relationships with advisors, key industry players and investors to the benefit of all ventures in the centre. Typically the centre houses over forty companies and SETsquared Bristol companies have raised over £44Million in funding over the last two years.

SETsquared Bristol believes that it is the mix of being in a start-up community, with access to important Networks all included in a bespoke support package that increases the chance of success making it the safest place for any start-up to grow a business.