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Fab Bakin Boy has recipe for start-ups

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The business brain behind cake company Fabulous Bakin’ Boys could prove the key ingredient for local start-up success.

Gary Frank dreamed up the Witney-based cupcake, muffin and flapjack brand in 1997, before building it into a company with a £17m turnover and employing 120 staff.

Now Mr Frank, who sold the firm a few years ago, has co-founded Fab Accelerator which launches next month.

Under the slogan ‘Stop dreaming, start scheming’, it offers expert advice and practical experience to those setting up on their own.

Mr Frank said: “I’m delighted to be involved with the Fab Accelerator because I wish there had been one around when I started my business.”

Less than half of all start-ups survive for more than five years, according to the Office of National Statistics.

And the four-strong Fab Accelerator team believe the venture will fill a gap left by cuts in free funding and support for Oxfordshire start-ups.

Fab Accelerator co-founder Wendy Tindsley, who has started three businesses, explained the new 12-week programme is themed around problem solving.

Ms Tindsley, who also worked with Enterprise Hub and Business Link, said: "We encourage them to work alongside other entrepreneurs to generate lots of creative ideas and imaginative ways of tackling challenges."

Fab Accelerator includes three-hour theory and practical sessions plus homework challenges.

Topics covered include pitching, finance, brand and innovation and team building and each candidate has a one-to-one mentor.

The course builds towards a demo day, when entrepreneurs pitch to potential investors.

It will run in groups of 15-20, three times a year, starting on September 16.

Anyone with a business idea, those who recently started a firm and existing owners who feel stuck can apply.

Applications are judged on idea, market opportunity, business model and team.

It costs from £500 to sign up and closing date for applications is 5pm on September 9.

One of the other two co-founders is Ben Mumby-Croft, who has 15 years’ experience helping start-ups and established firms.

Marketing director at Summertown-based creative agency One, Mr Mumby-Croft is former head of entrepreneurship education at City University in London.

Paul Essery, managing director of a digital tech business, is the fourth co-founder.

Ms Tindsley said: "I believe the power of a cohort of exciting companies and a group of ‘been there, done it’ investors is a heady cocktail.”

She added: “One of the most valuable aspects of this is to get more eyeballs looking at the business – other bright businesses and investors who have been there and done it, challenging and building on their ideas.

“Ultimately, they will come out with a plan for growth, an investor-ready business proposition or start-ups should be able to start the next day.”

For more information, see: fabaccelerator.com/