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This book is based on observations of individual projects, mainly while I worked at the merchant bank Morgan Grenfell and at the National Research Development Corporation. Over several years, I had the benefit of day-to-day contact with many colleagues, entrepreneurs and experts from various walks of life: industry and commerce, academia, the professions and the financial world, so it is impossible to mention them all, greatly indebted as I am to them.

A number of people have generously provided valuable support and much stimulating comment on the manuscript at various stages, including Nick Antill, Rodney Brack CBE, Mike Butcher, Ian Coult, Alan Curtis, Andrew Duncan, Patrick Gilpin, Sue Konzelmann, Pete Parsons, Alan Plummer, Richard Redfern, John Roach, Robert Scallon, Richard Sharman, Martin Shaw, Neil Short and Michael Wilkinson. I am grateful to them all.

Most enterprises start small, so I particularly appreciate the help of John Moxon, a founder-director of Beeson Gregory who has had substantial experience of raising capital for small and medium-size enterprises.

I would also like to thank Craig Pearce and his colleagues at Harriman House for their positive and professional approach and their contribution to improving the final product.

I am truly grateful to my family for all their help and support in this project.

The opinions expressed and conclusions drawn in this book are entirely mine, and are not necessarily shared either by the organisations or the individuals mentioned above. Likewise, the responsibility for any errors or omissions is mine and mine alone.