CAS 2

The starting point of CAS 2 is an approved proto-business plan or in the case of a licence when a list of potential commercial partners has been identified.

The following processes are undertaken while the project is in CAS 2:

• Additional development of the business plan as necessary;
• Succession planning (handover from BEM and timetable);
• Validation of the identified market;
• Registration of the company;
• Selection of interim commercial management which may be provided by the mentor, by the BEM, by an external company or through an incubator
• Identification of a full-time management team covering all areas of the company’s business;
• Valuation of the company and release of equity;
• Additional fund-raising activities to secure subsequent rounds of funding from the White Rose Seedcorn Fund, venture capitalists or business angels;
• Business development through the generation of sales.

The end-point of CAS 2 is a fully operational company or when a licence is finalised with a commercial third party.