Pitch to the Panel: P3MO
WHO IS P3MO?
P3MO is an Oxfordshire based technology company, disrupting the traditional delivery model of a Business Transformation.
Their CEO, Andrew explains: “If we look at the way businesses are required to constantly evolve today, due to competition, legislation change or cost reduction; historically how they have managed their need for change has not evolved due to either limited internal capability or outsourcing the problem to quite costly third party experts. Companies know it is not sustainable to continue to waste hard fought for profits on failing to change efficiently. But with the power of data and technology we can help our clients deliver efficient and effective change with our product called ‘Connect’. We utilise technology and deliver a new way to achieve change and bring improved return on investment and improved lifestyles for every employee and shareholder.”
SUPPORT FROM OXLEP SINCE 2019
It was in early 2019 that P3MO was established and decided to set the business up in Oxford. “We wanted to be based in Oxford because it’s such a great location, it’s central, it has a great university network and a great business enterprise network. And being part of the Oxfordshire business community meant we could engage with OxLEP. This was great as we knew they offered a whole raft of business support.”
P3MO gained support as part of the eScalate and ISfB programmes. “I thought I knew a reasonable amount about setting up a business, but I wanted to know more about marketing, digital marketing in particular. I knew how to write a business plan and I had a sales strategy, but its always good to verify from peers to know they were good enough. I needed to discover more about what was needed for a start up and that’s where the one-to-one support from the OxLEP advisors came in.”
“The OxLEP team were absolutely fantastic in terms of the support we got from them. They provided input in areas such as sales, investment readiness and business plan development. And another brilliant thing about it was the general networking and connections you build from joining the workshop sessions and attending events. OxLEP have played a pivotal part in the development of our business over the past couple of years.”
LOOKING FOR INVESTMENT TO ACCELERATE THE BUSINESS
After two years in development, P3MO have reached a stage where they are ready to gain investment and accelerate the business. “As founders of the business we have funded it to where we are today, but we know with investment we can fast track our product road map and capitalise on a huge market opportunity. This was when we started to reach out to investors and gain some interest to support our aspirations for growth.”
P3MO were officially invited to take part in OxLEP’s Pitch to the Panel – an event that gives businesses the opportunity to meet and pitch to a group of Oxfordshire based investors. A total of nine businesses were invited to take part in the first round. Andrew told us how it all came about: “Our advisor at OxLEP started talking to us about formulating the Pitch to the Panel event and the possibility for us to be part of it. To be honest, initially we were slightly hesitant, although we had a pitch investment deck which is pretty good and we know our numbers and believe in what are doing. But we were encouraged to take part and agreed to join the event.”
After a really strong first round pitch the team at P3MO were delighted to be asked to present again in the second round. “I must admit we didn’t expect to be invited back to the next round, it was hard to judge the room on how our high-level pitch had been received. We were very pleased to be selected though. We really liked the concept of it being split into two parts, the first round was a ten-minute pitch which warmed you into it. And that put the pressure on us to deliver and get across the key areas of our business. Then the second round was stepped up to a twenty-five-minute pitch with questions.”
“Going through the event was a good experience. We’ve taken a lot away from it, not just validation of what we’re doing, but it’s really reassuring when you pitch and the feedback you get is positive and they can see an opportunity and want to continue conversations with you. It’s allowed us to refine our messaging, the pitch we give and the story we tell. It’s also given us positive reassurance that the last two and a half years of building the product and the team has been worth it, and we are really onto something that can make a difference.”