Please note that whilst the campaign is labelled as EIS eligible the Company has £150,000 remaining of its SEIS limit. We will, therefore, be looking to seek SEIS relief on the first £150,000 invested into the campaign and EIS relief on the balance. Any tax relief is dependent on personal circumstances and may be subject to change in the future.
Simply Connect is a transport service for local door-to-door travel on demand, at near bus fares. The software in our mobility platform will let us manage a new 'intermediate' mode of many professionally-driven, shared people-carrier vehicles, without scheduled routes or timetables, which integrate to existing modes.
Each personal journey is managed to completion. Service design reflects actual travel patterns (short, routine but variable, often functional journeys) and is based on public transport principles (i.e. for all segments of the mass-market, consistent affordable fares and certainty of travel).
A network of community-focused businesses comprise multiple local partners (operators, investors, customers, local/transport authorities: this unlocks their expertise, skills, commitment and funding streams). Overlaying this is a commercial system management and governance company, also responsible for early stage delivery: it is this body now seeking investment here. With open-source software, we believe that this enables rapid roll-out, scope for high commercial returns and robustness to competition.
The background intellectual property required for the business is owned by a separate entity, Sustainable Environment Ltd, which is owned and controlled by the Founders. Sustainable Environment Ltd will licence the IP to Simply Connect by way of an exclusive world-wide licence that is irrevocable provided license conditions are met.
Simply Connect will pay a royalty fee to Sustainable Environment Ltd equal to 2% of all revenue.