Michael Forshaw, an education technology entrepreneur based in Chester has secured an investment of £450,000 to start up a new business venture, and it’s designed to be the first of its kind within the education sector.
Forshaw will use this funding to help to the launch of Edtech Impact, the first platform of its kind, for schools by matching edtech solutions using evidence of impact. This will save many schools money and help them make more informed decisions on the edtech investments.
He previously founded Innovate My School in 2009. Currently, that company operates throughout the UK and the Middle East, working with over 4,000 school leaders, introducing them to innovative products and events.
The corporate finance team at York and Leeds-based accountancy firm, Garbutt + Elliott, advised Michael on the successful deal. Partner Tony Farmer noted, “Securing funding was vital to get Michael’s venture off the ground. This offering will be the first of its kind in an ever-growing industry and has all the groundwork and expertise in place to be a success”.
Appointed due to their expert experience in raising finance and strategic planning The Garbutt + Elliott team worked closely with Forshaw to assist in negotiating the transaction and provide due diligence support, added, “It was a great pleasure helping this deal come to fruition and seeing the positive outcome achieved for all involved first-hand. We wish the best for Edtech Impact in the future.”
Edtech Impact founder, Forshaw, says “The team at Garbutt + Elliott did an excellent job in helping this deal get over the line. Their expertise and attention to detail were pivotal in showcasing Edtech Impact’s potential and why it is a worthwhile investment. Spending in the edtech sector is set to reach over £195 billion by 2020, so there is significant commercial opportunity to reap rewards and grow in the industry.”
This deal adds to an extensive list of other successful negotiations that Garbutt + Elliott’s corporate finance team have advised on, totalling £130m across a variety of sectors including manufacturing, engineering, distribution, printing, brewing and technology.