Entrepreneur inspired by London Olympics secures funding
A Lincoln entrepreneur who developed a software platform for event organisers after working on the London Olympics has secured a £250,000 investment to further develop his system.
Joe Cusdin secured the funding from the MEIF Proof of Concept & Early Stage Fund after developing his software, Iventis three years ago.
The platform, which is now used by a number of global clients, will use the investment to further develop the system and create three new jobs for technical and marketing staff, adding to its current workforce of four.
After starting his career in transport planning for the London Olympics, Cusdin went on to work with a series of festivals, athletics events and the European Games in Azerbaijan.
The geography graduate recognised that event organisers lacked effective mapping technology and planning systems to co-ordinate the different aspects of their operations.
His creation, Iventis, allows event organisers to plan and share from architectural drawings, the location of food concessions and details of transport and security in one platform.
Cusdin was the winner of the Taming the Dragon VI in November 2018, a Lincoln-based Dragons’ Den-style competition, supported by Lincolnshire Investment Network, Streets Chartered Accountants, Fraser Brown and NatWest.
Cusdin, who is also CEO of Iventis, said event workers often lack the tools to share information, a problem which inspired the platform’s creation.
“I set out to create an easy-to-use system that would allow everyone involved to co-ordinate plans and deliver the event more efficiently.
“The funding will allow us to enhance the platform and make it even more powerful,” he said.
Sandy Reid, Investment Manager at Mercia, added: “We have been very impressed with Joe’s achievements. Not only has he managed to develop the Iventis platform on a limited budget using his own funds, but he has also attracted some major clients. This funding will allow him to transform the business from a successful events consultancy to a thriving software firm.”