“The programme helped us translate creative vision into investor language,” explains George Caton-Coult of Pop Paper City
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“We know we need to get our product to market and do it in an efficient way,” says Victoria Holden, co-creator of one-stop media platform MotionHub. Designed with indie production companies in mind, this new product uses AI tech to help connect media companies with key tools and new revenue paths. “We just feel that now is the right time to look for investment,” she adds. “We have a product that’s ready to go and if we don’t act now, someone else might get there first.”
When it comes to bringing new products to market, speed is everything. Victoria and her MotionHub co-founder Bruce Buxton know this well. As an award-winning director and producer, Victoria spent years developing social-first stories, working with a range of production companies. After setting up her own indie TV production house a few years back, she quickly spotted a gap in the market – one she and IT expert Bruce plan to fill with MotionHub.
“I realised we were subscribing to loads of different subscriptions for things like transcribing and storage and there was really nothing out there for TV production companies where you could store everything all in one place,” she tells us, detailing the problem facing the sector. After receiving an Innovate UK grant, the pair began work on creating a solution. As Victoria explains, “Using AI, we knew we could create something that was specifically designed for indies.”
“We knew we could create something that was specifically designed for indies”
However, during the development process, new opportunities emerged which could help companies beyond organising and optimising their work. “It’s tough out there for indies at the moment. Everyone’s looking for new revenue streams. We knew that one of the things that’s very difficult for indies is selling their own archive,” says Victoria on how MotionHub can streamline this often complex process. “MotionHub not only became a platform for indies to manage their productions but also for them to create a new revenue source.”
With a vital product already in-hand and the sector ready for its arrival, the team knew they had to act fast. “We’ve been bootstrapping everything ourselves so it felt like investment was a good option to explore,” says Victoria, explaining why she applied for Creative Enterprise: Investment Readiness. Backing from key industry organisations only added to their desire to widen their investment knowledge: “We’ve got close relationships with Pact UK, the industry body for TV production companies,” she adds. “They’ve agreed to test and endorse MotionHub so we really want to get it out there.”
Despite having in-depth knowledge of TV-sector pitching, the team knew they had to start from scratch when approaching this journey. Thankfully, the Investment Readiness scheme touched upon all the necessary stages of the task at hand. “Our knowledge of investment and how to interact with investors was non-existent,” admits Victoria. “It’s been great because it’s provided a real whistle-stop tour about all of the pros and cons. You also get to hear from a lot of other founders and realise it’s a difficult thing to do and not easy,” she continues, revealing how the scheme provides realistic expectations of the whole process. “It’s a real labour of love.”
“It’s been really useful looking at things from an investor’s point-of-view”
One of the key take-aways has been the opportunity to peek behind the curtain and discover exactly what elements of their offering investors want to see. “It’s been really useful looking at things from an investor’s point of view to really hone things down to the key fundamentals. It makes you think about your finances, customers and getting into a position where you’re investment ready,” says Victoria. “It’s enabled us to tell our story better. In TV, we tell stories so we’ve refined our pitch to make it a bit more storylike.”
Making time for additional focus has also provided a useful opportunity for a bit of creative introspection. It’s something that’s helping to future-proof MotionHub’s forward trajectory. “It teaches you a lot about yourself,” offers Victoria. “You realise where your strengths and weaknesses are and where you might need external help.” The process has also alleviated some of the fears that start-ups often feel before embarking on this path. “Losing control of your baby is frightening,” says the founder. “It’s helped us to weigh up the pros and cons so even if we decide to not go for investment, we know we’ve really thought about it and it’s the best decision for the company.”
Overall, Victoria feels this additional training provided by the Investment Readiness scheme has not only added to her comfort in the investment sphere but also boosted her skillset as a creative founder. “I feel more confident about our product and how to pitch it – and not so terrified about investors asking us questions,” she smiles. “It has refined our thinking and really focused us on where we should be spending our money, time and effort in terms of what’s going to be attractive to investors.”