These businesses are largely not eligible for the Enhanced Coronavirus Business Interruption Loan Scheme (CBILS) and have cash requirements that exceed other forms of available government support. The total affected market includes an estimated 30,000 businesses, which employ an estimated 3.3 million people (10% of UK jobs) and contribute £196 billion to the UK economy each year.
Our objective during the project period is to facilitate over £200 million in additional private rescue financing for these UK businesses. We will achieve this by providing free online resources to fast-track financing, with content that includes (1) standardised and customisable digital documentation, and (2) a portal for rapid exchange of information between fundraising UK businesses and angel investors, venture capital (VC) firms, non-bank lenders and other qualified financiers in the UK and abroad.
Rapid Recap is distinct from other available products and services because it will be tailored to the COVID-19 funding environment, will be designed for rescue financing (in addition to conventional financings), and will be provided as a free service to qualified users during the project period.
The project will (a) apply rapid application development (RAD) methodology, (b) showcase cutting-edge technology for dynamic data-driven web services, and (c) leverage Peregrin’s existing intellectual property, content and software architecture to allow for accelerated deployment.
The project outputs will include the Rapid Recap web application and associated documentation (user requirements, technical documentation, user design, penetration and vulnerability report).
Client and Project Leader’s Website
- Justin Patrick, Project Director (Managing Director — Peregrin Marketplace Limited)
- Darren Chowles (Senior Developer — ID Studio Web Agency Limited)
- Matthew Groves (Research Software Engineer — The Digital Humanities Institute)
- Michael Pidd (Director — The Digital Humanities Institute)
- Alan Broadhead (Director — Broadhead Consulting Limited)