PortalZero – Building Toward Investment to Fuel Innovative Off-Grid Living
PortalZero, founded in Coventry in 2023 by Scott Shearan and Nayden Yurukov, is dedicated to reducing waste by developing lightweight, mobile products for off-grid living. This innovative approach to sustainable solutions quickly gained traction, enabling PortalZero to secure initial funding and begin prototyping within the first six months. To enhance their business growth and become investment-ready, Scott and Nayden enrolled in the Investment Readiness Programme, delivered as part of the Business Growth West Midlands initiative.
Company Background
PortalZero’s mission is to merge cutting-edge technology with environmental sustainability to create off-grid products that prioritize resource efficiency and minimal waste. Co-founders Scott and Nayden have been diligently focused on building a product prototype, conducting market research, and executing marketing efforts to assess demand. Their long-term goal is to establish a sustainable, environmentally-conscious business that supports off-grid living while reducing environmental impact.
The Challenge
One of the primary challenges PortalZero faced was the significant investment required to develop and manufacture physical products. The business needed investment to complete prototypes, acquire necessary certifications, and establish in-house manufacturing capabilities. Additionally, the two co-founders required expertise in certain areas of the business and were seeking additional funding to bring in skilled professionals to support the company's growth. They recognised early on the importance of preparing legal documents, business plans, and pitch decks to secure investment but lacked the resources and knowledge to assemble the necessary materials.
The Investment Readiness Experience
PortalZero enrolled in the Investment Readiness Programme offered by C&W Business Solutions on behalf of the West Midlands Combined Authority. The programme is designed to help SMEs become investment-ready through a structured approach. The programme consists of two stages: identifying funding routes and receiving expert advice from specialists and investors.
Scott and Nayden found the workshops particularly beneficial, as they learned from experienced specialists and connected with other businesses facing similar challenges. The programme provided them with clear guidance on how to develop essential business documents, including marketing strategies, legal paperwork, and pitch decks. One-on-one mentoring sessions were crucial in providing specific answers to their questions and helping them refine their business approach. Scott and Nayden shared the following about their experience.
“The workshops were incredibly useful because it gave us a chance to learn from specialists and meet businesses who were in the same position as ourselves.”
The Results
Following their participation in the Investment Readiness Programme, Scott and Nayden made strategic decisions to delay seeking investment until key business milestones were achieved. They are now focused on building evidence of market traction and developing a structured audience-targeting plan. With support from the Coventry and Warwickshire Growth Hub, they aim to establish their own manufacturing facilities in Coventry by year-end.
The co-founders feel more confident in their investment-securing capabilities and have a clear roadmap for future growth. They plan to hire their first employee in January 2025 and expand production capacity, while Scott transitions to full-time work on PortalZero in mid-2024, with Nayden following in early 2025.
The Future
Looking ahead, Scott plans to leave his current employment in June to work full-time on PortalZero, while Nayden will join full-time in early 2025. They intend to hire their first employee in January 2025 and continue expanding their product offerings. The company aims to increase its production capacity and raise investment for future growth. The co-founders remain optimistic about their business’s potential and are actively working towards scaling PortalZero.
Scott strongly recommends the Investment Readiness Programme to other SMEs, noting that it helped them build confidence, stay focused on critical decisions, and ensure they have all the necessary documents and plans in place to succeed.
The Investment Readiness Programme
The Investment Readiness Programme, is delivered in Coventry by C&W Business Solutions for Business Growth West Midlands and funded by the West Midlands Combined Authority. The programme provides SMEs with guidance on securing external funding. Investment Readiness covers various funding options, including debt finance, asset finance, grants, equity, and crowdfunding. It is designed to help start-ups and high-growth businesses secure investment and scale up by providing mentoring and support in developing investment pitches. The programme is also available in Birmingham, Dudley, Sandwell, Solihull, Walsall, and Wolverhampton where it is delivered by Oxford Innovation.
Find out more
Investment Readiness is delivered in Birmingham, Solihull and the Black Country by Oxford Innovation Advice, and by C&W Business Solutions in Coventry.
Learn more about BGWM Investment Readiness Programme
Talk to us about this programme and other opportunities to access finance.
