Business Expansion Scheme 2008

Business Expansion Scheme 2008

Brian DonovanCEO, Eneclann Ltd.

Topics to Be Addressed

• Business Expansion Schemes• Eneclann Company Background• Market Information• Expansion Plan• Summary

BES in 2008

• 2007 restrictions mean that non-BMW qualifying companies need to be “small”

• So in practice they are start-ups, overly optimistic about technology

• Most 2008 BES schemes are:

– Software (high risk)– Alternative energy (expensive)

– Or pharmaceutical (high risk & expensive)

BES in 2008

• There has also been a major increase this year in “BES funds”. These work on the principal that you invest your money in several companies and spread your risk

• It makes sense, but: – Anonymous managers– Little information about the companies– Very expensive for the companies involved

The Solution?

• Find an experienced BES company, with a significant trading history and proven expertise

• A company that knows their market, and how to respond to the challenges and opportunities. (5 years is a long time!)

• Is placed to do well even during a recession• We hope you will agree with us that Eneclann is a

solid investment• But it’s also an innovative one

• Business expansion schemes• Eneclann company background• Market information• Expansion plan• Summary

So Who Are Eneclann?

• Award-winning Trinity College campus company

• Founded in 1998

• Acknowledged experts in the field of historic records in Ireland

• Historical research consultancy

• Digitise, publish and manage archives for the public and private sectors

About Eneclann

• Service www.irishorigins.com, is the largest provider of Irish genealogical data online

Some Company History

1999Founded Archives & Records Management services due to Freedom of Information Act

2000 Started digitisation services in response to demand

2002 Business Expansion Scheme x 2

2003 Founded Irish Origins

2005 Trinity exclusive book digitisation deal

2006Became anchor Irish researchers for Who Do You Think You Are? BBC TV series

2007Exclusive deals with FamilySearch and The National Archives (Kew); BES round 3

2008Irish researchers on RTÉs WDYTYA?; BES round 4

Major Clients

• Department of Health (€1 million)• Department of Agriculture (€0.75 million)• Department of Defence (€1 million)• Other clients:

Research & Publication Clients

• Despite considerable state sector experience, we do not rely on this sector

• Other clients include:– 10,000 research clients– 20,000 publications clients (over 250 titles already)– 50,000 online clients

• It is this market that is our growth focus

Our Growth Focus

• Family history & heritage

• Digital content online

• Releveragable client base, which has been partly developed already

• Business Expansion Schemes• Eneclann Company Background• Market Information• Expansion Plan• Summary

The Market - Size

• US $500 million• Market increase of 100% in last 5

years

• £75 million • Market increase of 300% in last 5

years

• AUS $ 70 million

The Market – Company Activities

• The Generations Network (aka Ancestry.com) acquired for over US $300 million in Sept. 2007

• Friends Reunited and Genes Reunited were sold to ITV in December 2005 for £120 million

• Tel Aviv-based My Heritage received $15 million in equity investment from London’s Index Ventures in October 2008

• Geni.com received $11m in VC/PE investment in 2006-7

The Market – Increased interest in genealogy and digital content

• Increased interest in history on TV– Eneclann was researcher on Who Do You

Think You Are? for RTÉ and also on UK, Canadian and Australian versions

– Upcoming TnaG programme

• Social networking for genealogists– e.g. We’re Related – Facebook App

with 11 million users

• Fellow Trinity College campus company sold for US$ 110 earlier this year precisely because of its digital content

The Market

• The family history market is now right for high growth– demand for genealogical information– convergence of technology,– cost of access,– availability of content

• Competitors? – state sector cultural organisations – local heritage groups– more opportunity than competition

• Business Expansion Schemes• Eneclann Company Background• Market Information• Expansion Plan• Summary

Expansion Plan

• Vision: to develop Eneclann as a high value digital provider of heritage and historical content online

Content Acquisition and Rights

Content Digitisation

Content Distribution and

Marketing

• 2005 exclusive agreement with Trinity College Library

• Over 4 million books

Content Acquisition and Rights

• Currently working with US FamilySearch

• Largest archive in the world

• Will bring 25 million records online

• Exclusive agreement signed in 2008

Content Acquisition and Rights

• Exclusive partnership with The National Archives (Kew) to digitise and publish all their military and security files for the period 1900-1922 for the first time:– Police files– Special branch– Army files– Court Martial and martial law records– MI5 files

Content Acquisition and Rights

Example: Sinn Féin and Republican Suspects DVD

Content Acquisition and Rights

• Much of the Trinity College and National Archives material already digitised by Eneclann

• Agreement with Digital Architects Ltd., the largest digitisation and indexing bureau of historic hand written records in the world

Content Acquisition and Rights

Content Digitisation

• Already distributing content– e.g. via www.irishorigins.com

• Multiple market-specific websites – e.g. New 1912-22 website

• External distribution channels– e.g.Footnote.com, World Vital Records etc.

• Focused marketing campaigns– Cost-effective channels e.g. internet– Target key markets: UK and USA– Web 2.0 e.g. social networking, e-learning

Content Acquisition and Rights

Content Digitisation

Content Distribution and

Marketing

Commercial benefits

• Releveragable digital assets• Releveragable client base• Growing digital asset ownership and rights• Digital assets with an onward non-

depreciable value• Assets generating a continuous cash stream

into the future• High potential sale value of company

following expansion

• Business Expansion Schemes• Eneclann Company Background• Market Information• Expansion Plan• Summary

Why invest in Eneclann’s BES?

• Experience of BES• Trading history• Quality of management team

– Promoters committed financially and full-time– Managers acknowledged experts– Marketing manager formerly in same role for eBay Ireland

• Proven track record• Optimum yield on investment• A growing market in a time of recession• Innovative

Further Information

• For more information and a brochure with investment forms, please contact:

Eamonn O’Sullivan, FCAO’Sullivan Associates69 Main StreetBlackrockCo. DublinTel: (01) 2834123Email: info@osullivanassociates.ieO’Sullivan Associates CHARTERED ACCOUNTANTS REGISTERED AUDITORS