Recent research into the UK business angel market by Tech Nation and the British Business Bank indicates that although North East startups hail the support community as the region’s biggest strength, there is ‘clear regional disparity in terms of where Angel investors are based and where they invest’.
Regional tech startups cite the lack of access to local funding is a drawback with many travelling to London or further afield to secure investment.
In a survey of more than 2,500 deals, involving over 650 angel investors, less than 0.5 per cent were based in the North East, while almost 60 per cent were based in London and the South East.
Tech Nation is hoping to bridge the gap between Northern tech investors and businesses, keeping the flow of funding and knowledge within the region.
James Bedford, head of investment partnerships at Tech Nation, said: “We’re delighted to be building on the success of the previous programme with our partners Mincoffs and Blu Sky.
“It is really important that we support the growth of the angel investor community to enable tech companies to find the right investors.”
With the help of programme partners, Mincoffs Solicitors and Blu Sky – and established experienced investors – the Angel Community will run workshops for tech investors (whatever their skill set) in the North East and Yorkshire, as well as dinners and pitching events.
The community will also look to help startups and new tech businesses seeking local investment, with investment readiness workshops for advice on how to make a new venture an attractive prospect for investors.
Specialist IT lawyer, Antony Hall, who heads the commercial services team at Mincoffs, added: “The North East’s technology cluster is full of ambitious and exciting businesses, many of whom are looking for investment.
“As well as bringing capital, angel investors bring vital business experience which can make a huge difference in helping tech businesses reach their full potential.
“We are very pleased to be supporting Tech Nation with this important programme; stimulating angel activity within the region can only strengthen the region’s technology community.”
The Angel Community is an evolution of the previous Tech North Angel Community. Events are to be held in Newcastle, Leeds, Manchester, Liverpool and Cheshire.
Dave Gibson, co-founder of Blu Sky, concluded: “We’re excited to be on board with the Tech Nation Angel Community programme and attending the Newcastle and Leeds events! Supporting the local angel community will only encourage more local investments with startups in the region, boosting our business ecosystem.”
(L-R Samantha Grigg of Blu Sky, James Bedford of Tech Nation, Peter Robinson of Mincoffs, Steven Robinson of Blu Sky, and Antony Hall of Mincoffs)
