..and helping them Hatch
First 3Cs Community meeting of the year at UCL Advances, the business incubator unit of University College London which has two parts – the Hospital and the academic bit. Among the many plaudits of latter is that it was the first non-American institution to be connected to ARPANET forerunner of the internet you are using now.
Ruth Hou, Business Support Manager of hosts UCL Advances mentions that now is the time to think about getting an intern for the summer. These guys will be very bright, available for 6-8 weeks and hopefully will be given something more challenging to do than make tea…
Four speakers line up where first is Dave Thompson of Magic Tab helping you get grants for your gizmo/project/idea ranging from £25k to £250k. As with many freebies, Terms and Conditions apply and the success rate is only 3 per cent. Funding is also matched and paid in arrears, so you need cash to keep the enterprise going in the meantime. Completing the application form may take 3 weeks and some of the answers are in essay form and limited to 3,000 characters. Your answers are scored by 3 assessors and the average is the one that is used in the final assessment where more information will be requested. This is where MagicTab’s expertise comes in.
The project is run by recently hived-off TSB – originally Trustee Savings Bank.
Those were the days
TSB has an interesting history where at one time it was the largest unincorporated institution in the UK and no one knew who owned it (amazing what you learn when doing your banking exams). This vague and not very satisfactory situation was confirmed after much due diligence and the closest answer as to who the owner was, that it might be a department of the Board of Trade.
The privatisation in the 1980s sorted out this legal mess and it became a quoted company on the London Stock Exchange. During the great bank collapse of 2008, it was acquired by Lloyds Bank which for a while became LloydsTSB. This also reminds me of one former banking colleague who was ex-TSB. As she put it they were a good bank to be a customer of, but rather stingy employers.