Bath graduate's £100,000 boost for literary magazine
A Bath graduate has secured £100,000 investment in his literary magazine.
Aerospace engineering graduate Andy Brown, who graduated from the University of Bath this summer, scooped the prize money on Sky 1's investment programme The Angel.
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Andy will use the money to help with his new business venture, a free magazine called the Underground Book Club, which he launched earlier this year and is aimed at commuters on the London Underground.
The magazine features opening chapters from new novels, and has the backing of leading publishers including Bloomsbury, Penguin and Harper Collins.
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Andy fought tough competition from four other young entrepreneurs on the programme to secure the investment from John Caudwell, founder of mobile phone chain Phones4U.
The graduate, who in March won the university's student business plan competition, said: "I was really happy to win, but I'm feeling cautious because I know that there are a lot of details yet to work out before I actually get the investment. The best part of the show for me was the video reveal when everyone actually got to see the magazine.
"The money will mean we can move our circulation from 10,000 copies to 100,000 which will have a big impact on awareness of the magazine. It will also allow me to pay for extravagances absolutely essential for running a business, like food, clothes and rent."
The Underground Book Club is now on its fourth edition and is available for the iPad via, www.undergroundbookclub.co.uk.
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