A Scottish satellite broadband provider is hoping to win £125,000 of crowd-funding to ‘eliminate’ the country’s rural broadband problem.
Internet Anywhere is pitching for 125 investors to put in £1,000 each on Scottish crowd-funding website SquareKnot.
The funds will pay for marketing, an installation engineer, customer support staff, and capital expenditure to develop the business.
Read Recombu Digital’s guide to Satellite BroadbandEach investor will get a free satellite internet set-up worth £600 at up-to-18Mbps, and 50 per cent tax relief on their investment.
John Fitzgerald, Internet Anywhere’s owner, told Business Insider: “More than 300,000 premises in Scotland have either no broadband or slow connections.
“This is damaging for rural communities and has significant negative repercussions for the country’s economy.
“Our aim to eliminate Scotland’s rural broadband problem and this funding would put us in a position to do so.”
With margin generated on every piece of Eutelsat Ka-band satellite hardware, Fitzgerald plans to conquer Scotland’s not-spots before expanding across the UK.
With a potential market of three million premises, the SquareKnot pitch proposes an end game for investors when Internet Anywhere can be sold to a listed or global company for a significant return.
Internet Anywhere has already won £35,000 from the Scottish government’s EDGE competition to improve internet access in remote locations.
Satellite internet connections are available in a variety of formats, with data rates from up-to-2Mbps to a guaranteed 20Mbps, daily data allowances from 2GB to unlimited.
There’s also a choice of up-front kit installation for £350+VAT, or contract rental schemes with the installation bundled into higher monthly rates.
But don’t take our word for it – here’s John Fitzgerald with his pitch: