In December 2020, LDC exited its investment in assistive technology business Texthelp to Five Arrows, following a period of significant growth. During the 18-month partnership, revenues increased 40 per cent from £19m to £27m, with a strengthening pipeline of prospective new customers.
LDC believed in the potential of our business, and our ability to deliver on our plans. They provided the investment, support and expertise to help us accelerate a truly differentiating digital transformation in a relatively short space of time.”Martin McKay
It marked a significant step in founder Martin McKay’s journey from young entrepreneur to global CEO. Martin started the business in his early twenties with support from The Prince’s Trust.
Support from the start
“My Dad had a stroke when I was young and that made me want to do something to help people with disabilities. I began by making software for people with Motor Neurone Disease and Cerebral Palsy which led onto making software for people with communication problems and dyslexia.
“It was my Mum who suggested I get in touch with The Prince’s Trust, she thought I was a bit mad wanting to set up my own business. I took part in the Enterprise programme and that provided me with useful training, and was put in touch with a mentor. My mentor was a retired businessman who came out to see me once a week for about a year. He asked lots of smart questions that made me re-evaluate my plans and put me in touch with a network of people.”
To start a computer business you really need a computer. I used a grant from The Prince’s Trust to buy a computer and some software; I don’t know what path I would have taken without their support.”Martin McKay
Backing Youth Ambition
LDC strongly believes that tomorrow’s business leaders deserve the same opportunities that Martin received. That’s why we partnered with the Prince’s Trust in 2019 to launch Backing Youth Ambition. The initiative is helping to equip more than 1,200 young people with the confidence, skills and start-up grants to launch their own businesses through charity’s Enterprise programme.
In the first two years, our partnership has contributed more than £800,000 to support more than 1,300 young entrepreneurs, through donations, volunteering, event attendance and mentoring.
You can find out more about our three year partnership with The Prince’s Trust here.