Jonathan Drury, chief executive of Sheffield-based Savvy Foods, explains why the business should win the innovation in funding category of the Guardian Small Business Showcase competition.
I recall watching carob syrup, thick, black and glistening, being stirred into a waiting bowl of fresh, golden tahini. Then I tasted it and I fell in love. It was in the Turkish mountains in the early nineties and since that first, highly sensual experience, I’ve never looked back.
Fast forward to 2008 and I gave my girlfriend a jar of my own ready-made concoction based on that sacred blend and she’s hooked. Just a few more shared jars and ideas of world domination later and we’re on stage giving a talk to 200 Sheffield dignitaries (including the Lord Mayor) and receiving a prize of £2,500 for our business idea; the “elixir of spreads”.
Many more days and nights of research and testing on the public at fairs, markets and cafes were to follow. It was at one of these tasting sessions we met our first investor and another came forward shortly after. Soon it was crowd-funding time.
I’d been watching startups raise equity on Crowdcube for about a year. In May 2015, we were planning our wedding at the same time as our own launch. Heady times indeed.
We had just 45 days to raise £50,000 and no one really believed we would do it. When we smashed the target in less than two weeks and the cash kept pouring in, no one could believe that either. We closed the campaign a week early and we ended up with a massive £87,030 – 174% over our target.
All entries which meet the competition criteria are published and our judging panel select a shortlist of the three for each category. Winners are announced at an awards ceremony in summer 2016.
