LBS alumnus receives grant from Innovate UK

Rapid Recap will use its £47,959 grant to help businesses affected by Covid-19

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Justin Patrick (MBA 2017) has secured a grant of £47,959 from Innovate UK for his new app, Rapid Recap, which aims to connect businesses affected by Covid-19 with angel and institutional investors to raise money. 

Innovate UK is a non-departmental public body and acts as the UK government’s innovation agency. Its Fast Start funding programme has been set up to promote business-led innovation in response to the global pandemic.

Commenting on the achievement, Justin said: “We are honoured to be given this opportunity to support Innovate UK's Fast Start funding goals and look forward to assisting businesses and investors in forging new relationships to emerge stronger than ever.”

“As a major innovator of digital services in corporate finance, we are sharing our solutions with the broader business community to promote increased capital formation, innovation and competitiveness.”

The free Rapid Recap app is in the same product family as Peregrin Marketplace, a hub for businesses started by Justin in 2017 that provides transaction management solutions for private equity and corporate development.Rapid Recap will be released to companies and institutional investors in August 2020, with a special focus on businesses that have been unable to access the Future Fund or CBLIS government financing support programmes.