Enabling results through IMENCA
We offer a truly distinctive benefit to issuers and investors alike; a Business Opportunity Evaluation, Optimisation and Screening process known as “the IMENCA™ system”.
IMENCA™ is an acronym for ‘Improving Entrepreneurial Capacity’. The IMENCA™ system is designed to help improve the quality and investment performance of entrepreneurial investment opportunities before they are listed on the Enable Funding platform.
At the heart of the IMENCA system is business opportunity evaluation software called the Business Evaluation Calculus (BEC, for short). BEC has evolved from original, rigorous, university research and real-world development performed by Professor Kevin Hindle, Professor Brent Mainprize and Natalia Mainprize; all people with outstanding credentials in the teaching, research and practice of entrepreneurship.
The genesis of BEC features a longitudinal study of the funding of venture business plans and the success of funded businesses based on those plans. This pioneering and rigorous research, using logistic regression techniques, revealed a powerful algorithm comprised of 15 factors (1), delivering:
- 89% odds of correctly predicting whether or not ventures attracted funding and
- 79% odds of correctly predicting whether or not ventures went on to trade successfully
(1) Mainprize Thesis 2004
The IMENCA process
Just 15 factors accounted for most of the variance between success and failure.
From these sophisticated research findings, the easy-to-use and apply IMENCA™ system has been evolved and aims to offer:
- Investors higher quality of investment opportunities and greater success with the ventures they decide to fund;
- Entrepreneurs an enhanced business model and better capacity to both attract funding from investors and go on to trade successfully.
Every investment opportunity listed on the Enable Funding platform has been through the IMENCA™ system:
- Its entrepreneurs have experienced an intensive workshop and learned how to use BEC;
- They have enjoyed mentored support through evaluating and optimizing their business model; and
- After further mentoring their Pitch is presented to the Enable Funding Investment Committee before any decision to go forward with due diligence and ultimately, platform listing.
In short, the IMENCA™ System, is a remarkable method for improving entrepreneurial capacity, the likelihood of attracting funding and the likelihood of investment success. The IMENCA™ System is truly a great “enabler”.
Rod Lewis is the CEO of MediKane and provides insight on his invaluable experience with IMENCA.
MediKane is emerging as one of Australia’s most innovative ‘Food as Medicine’ companies.