Giggabox has secured significant Funding from an Investor

Giggabox is set to dramatically scale its Virtual & Hybrid Events offerings to clients as we have secured sizeable investment. This funding has been received from First Enterprise – Enterprise Loans through the Midlands Engine Investment Fund (MEIF). These extra resources will be utilised for the purchase of additional remote digital production equipment and for hiring seven new production and technical employees to help meet the growing demand for live online conferences, product launches, and digital events.

A Few Quotes from Key Stakeholders
Paul Musselle, CEO of Giggabox, commented “When the pandemic hit our Live Events production business we moved quickly and used our broadcast and live streaming experience to deliver remotely produced events that have been exceptionally well received. Delivering live content requires a host of technical and production skills, and it made complete sense to make use of our Giggabox skill set and scale up for the demand we have experienced with Virtual, and more recently, Hybrid Events.

“The funding from First Enterprise – Enterprise Loans has been paramount in making this happen. Without it, I wouldn’t have been able to purchase the additional equipment and employ the new members of staff needed to fulfil contracts.”

Stefan Nycz, Business Adviser at First Enterprise – Enterprise Loans, commented “Paul has a wealth of knowledge and expertise in broadcasting, and it’s been a delight helping him expand Giggabox.

“I’m looking forward to seeing them power the British Chambers of Commerce flagship Global Annual Conference in June and many other sporting and corporate events throughout the year.”

About First Enterprise – Enterprise Loans
First launched in 1989, First Enterprise – Enterprise Loans operates as a responsible finance provider and Community Development Finance Institution (CDFI), receiving funding through the European Regional Development Fund and Regional Growth Fund.

First Enterprise – Enterprise Loans are one of a few organisations nationally that lend money to small business, entrepreneurs, and social enterprises unable to borrow from high street banks. They specifically provide funding across the East Midlands and South East Midlands region, covering Nottinghamshire, Derbyshire, Leicestershire, Northamptonshire and Lincolnshire and the South East Midlands area spanning from Milton Keynes down to Luton.

Since 2011, First Enterprise – Enterprise Loans have lent £35.3m to a multitude of start-ups and to help companies expand their operations. The finance provider has also been assisting businesses with the Coronavirus Business Interruption Loan Scheme (CBILS), which ended on 31st March. CBILS is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy (BEIS).

For more information on First Enterprise – Enterprise Loans, click here.

The Midlands Engine Investment Fund and The British Business Bank
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the ERDF as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity. The British Business Bank programmes were supporting more than £8bn of finance to over 98,000 smaller businesses at end of March 2020. Since March 2020, the British Business Bank has launched four new Coronavirus business loan schemes, delivering tens of billions of pounds of finance to over a million businesses.

For more information on Midlands Engine Investment Fund, click here.

If you require a production company or would like any information regarding Virtual, Hybrid, or Live Events and the options available to you, contact Giggabox today.

Post written by Philip Barnes – Marketing Assistant at Giggabox

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