Friday 3rd October 2008
Dunfermline-based Vets Now Ltd has been announced as the winner of the Scotland regional final of the £35 Million Bank of Scotland Corporate Entrepreneur Challenge. The company, which is the UK’s leading provider of out of hours emergency care for animals has secured an incredible funding package of up to £5 million, free of interest and charges for three years, and now plans to turn their expansion plans into reality.
Richard Dixon, Managing director of Vets Now Ltd, said, "I am absolutely thrilled that we have won the Scottish regional final of the Entrepreneur Challenge. A lot of time and effort went into our presentation and we knew that the competition was going to be tough. I'm very proud of our team, without who Vets Now would not be what it is today.
"Winning the Challenge is going to have a fundamental impact on Vets Now, taking our business to a completely new level. The funding will allow us to make substantial growth and move the business into Europe. It will also increase the range of services we can provide to customers and increase the overall profile of our organisation."
Richard will now go through to the national final in December, where he will compete against the winners from six other regions across the UK for the chance to be named ‘Entrepreneur of the Year’ and the opportunity to benefit from four days mentoring from one of Britain’s most successful and high profile entrepreneurs.
Vets Now was chosen as the winner after Richard Dixon presented his business case and plans for the future to a panel of judges, including Willie Haughey from City Refrigeration and John Anderson from The Entrepreneurial Exchange. Willie, John and the rest of the judging panel then questioned Richard in their search for an entrepreneur who displayed flair, vision and creativity, coupled with solid business acumen and impressive plans for the future. The judging was followed by a dinner and award ceremony at Stirling Castle, at which the winner was announced.
Willie Haughey, from City Refrigeration, commented: "The judging process was a fantastic experience. The presentations were very strong and we had to choose from five very interesting companies who each could have won. Each company displayed an abundance of entrepreneurial flair and there was strong debate between the judges as to who should win.
"However, in the end we were looking for entrepreneurial flair, passion and a belief behind the numbers that their business plan could work. Vets Now had all this and more but it was their truly innovative business that captured the essence of entrepreneurialism and tipped the decision in their favour. I think Scotland has today proved that it has a very exciting business future and I know that Vets Now will stand a great chance in the national final."
John Anderson from The Entrepreneurial Exchange, added: "The quality of entrants in Scotland was outstanding and I felt very privileged to meet five different, yet confident and articulate businesses. Every single presentation was professional and knew their business inside out. Coming from The Entrepreneurial Exchange I was looking for the fundamentals of entrepreneurialism: growing a business, the starting point, where you are going and what are you doing that is truly unique? Vets Now showed all these things and made the judges feel that they would execute their business plan and take it forward.
"This has been a great day for Scottish entrepreneurs."
Launched in 2001 by vet Richard Dixon, Vets Now is the UK’s leading provider of out of hours emergency veterinary services. Recognising a gap in the market for providing dedicated emergency care to the veterinary profession, Vets Now was launched with the dual mission of improving the lives of vets and pets within the UK. The company now has 32 clinics providing a service to over 350 veterinary practices, treating over 65,000 small animal emergencies per annum.
How the Challenge works
Applicants entered the Entrepreneur Challenge in seven regions across the UK and each regional finalist will be given the opportunity to present their plans to the judging panel. A funding pot of up to £5m is available for each region and the judges will be looking for real entrepreneurial spirit and a sound business idea. Five finalists from each region will then be invited to a prestigious event in their own region where the successful entrepreneur will be announced. The seven regional winners will go forward to a national final to be held in December.
Key Dates
11th September South East England regional final
18th September London regional final
2nd October Scotland regional final
16th October South West England and South Wales regional final
30th October Midlands, Mid-Wales and East Anglia regional final
6th November North East England regional final
20th November North West England and North Wales regional final
December National final
Bank of Scotland Corporate,part of the HBOS Group, has a reputation for excellence in the provision of corporate finance, delivering innovative funding solutions across a range of markets. With experience across many areas of corporate finance, including specialist teams covering Joint Ventures, Integrated Finance, Structured Property Finance, Infrastructure Finance and Housing Finance, Bank of Scotland can draw on an expert pool of professionals with proven track records.
