Investment Readiness support proves a ‘knockout’ after raising £10 million for West Midlands firms
A young multi-media entrepreneur has showcased how targeted business support can help unleash the potential of the West Midlands.
Mihai Pelin, the founder of Knockout Sound in Birmingham, believes support he received from the Business Growth West Midlands Investment Readiness Programme has been fundamental in him growing his enterprise and taking on high-profile projects for Protect London, Cathay Pacific, Microsoft and Vodafone.
The 24-year-old audio visual expert was talking after attending the latest Business Funding Summit, organised by Oxford Innovation Advice, which attracted more than 180 business leaders, support specialists and investors to the Eastside Rooms in Birmingham.
They heard how the Investment Readiness Programme is on course to help firms across Birmingham, the Black Country and Solihull raise nearly £10 million to invest in business expansion, innovation and create jobs. It will involve an average raise of more than £200,000 across nearly 50 companies tapping into debt finance products, equity and crowdfunding.
“When I attended the first summit in 2024, it really opened my eyes to the opportunities out there and the different types of investment you can access,” said Mihai.
“As a young entrepreneur a lot of this was new to me, but it gave me the confidence to look to the future and make bold decisions where I want my business to go. It has really inspired me to be ambitious, and this year will see me open new post-production facilities, featuring an ADR/voiceover booth and state-of-the-art control room.”
The Business Funding Summit is the premier event of the Business Growth West Midlands (BGWM) Investment Readiness Programme, delivered by Oxford Innovation Advice across Birmingham, Solihull and the Black Country.
Throughout the day, delegates quizzed an investor panel of angels, venture capital providers and fund managers gaining insight into what they look for when backing businesses.
Attendees also explored an SME marketplace featuring more than 40 local businesses who have received programme support, giving them the opportunity to showcase their products and services, and forge connections with other like-minded companies.
The event also featured talks from businesses that have successfully secured investment, including Mini Monkeys, Truzy, Selene Clinical Research and Zanta Healthcare.
Catherine Bray, West Midlands regional director at Oxford Innovation Advice, added: “The Business Funding Summit showcased the true strength of the West Midlands business community. Its resilience, creativity, and willingness to support one another.”
“From inspiring founders to expert panels, the energy in every room reflected a region ready to scale and succeed. It was a privilege to be part of such a forward-thinking event that is actively shaping our future economy.
“This event is one element where the Investment Readiness Programme has proved so important over the last two years. It gives exciting firms access to support with financial planning, cashflow forecasting and building business plans for finance, not to mention connecting them with a myriad of different finance providers.
“The Investment Readiness Programme is all about inspiring the next generation of entrepreneurs like Mihai at Knockout Sound. We even had 11-year-old Khadi Hamilton at the event - she knew one of the exhibitors and wanted to find out how she could market her new interactive book.”
