Firm's first successful loan recipients have all been music-related, but AIM is now welcoming applications from toy and game inventors.
AIM Start Ups, an official delivery partner for the Government-funded Start Up Loans scheme, is looking to help toy and game inventors.
The firm is part of the Association of Independent Music and its first successful loan recipients have all been music-related start ups, but the company is now welcoming applications from the wider creative sector, including toys and games.
“We know that creative start ups face some very specific challenges in the early days," said Alison Wenham, CEO of AIM.
"Some businesses struggle to secure finance through banks, for example, and establishing and protecting intellectual property is an issue to which creative start ups are more prone than most. We are privileged to have some of the most respected and knowledgeable creative experts on our team of mentors who are perfectly placed to help new entrepreneurs because they too have been through the experience of launching a business.”
AIM Start Ups’ project manager, Claire McNeil, added: “Many mainstream lenders are still reluctant to lend to businesses whose value is based in Intellectual Property and this could pose a problem for inventors who are still at the product development stage.
"AIM Start Ups specialises in supporting creative entrepreneurs and can therefore help make a realistic valuation of an IP-based business and as well as assist with presenting that information in a robust business plan.”
