Businesses from across the UK are invited to meet potential investors at Gateshead event in October
Simon Green, Director, Venturefest North East
Venturefest North East has today (Friday) announced a collaboration with the UK government-backed Business Growth Service, with a view to preparing innovative businesses to attract external investment.
The move will enable innovative businesses looking for investment for growth the opportunity to come face-to-face with potential funders at the Meet the Investor element of Venturefest North East 2015, the region’s innovation conference on 13th October.
Businesses from the North East and across the UK are now being urged to apply to be considered for Meet the Investor and their chance to pitch their ideas to venture capitalists, angel investors and fund managers.
Venturefest North East is a key element of the North East LEP’s innovation programme and is part of a national network of innovation conferences supported by the UK’s innovation agency, Innovate UK, and the Knowledge Transfer Network.
The Business Growth Service (now incorporating GrowthAccelerator), and Venturefest North East will bring together over 25 investors at the event. These represent the wide range of funding sources available to innovative business in the North East, from start-up loans of a few thousand pounds right up to multi-million pound loan and equity deals.
The investors cover a broad base of business stages and sectors from tech start-ups to social enterprise and from the creative industries to high value manufacturing, and are all focused on investing in strong growth potential. The investment programme will enable businesses to plot their way through the funding landscape by securing support from Business Growth Service on how to present their ideas to investors and then by presenting to the most relevant investors at this year’s Venturefest North East.
Gaynor Dykes, Regional Manager, Business Growth Service explained, “As part of our joint ambition to support businesses in the North East with sourcing investment for growth, the Business Growth Service are delighted to be supporting this year’s Venturefest North East event. In attending, you will not only have the opportunity to be introduced to the government-backed business support that is available to growth businesses, but crucially to make relevant and key connections within the local investment community.”
Investors already confirmed to take part in Meet the Investor include Crowdcube, Growthfunders, IP Group, Key Fund, Mercia Fund Management, NatWest, Northstar Ventures, Rivers Capital, Silicon Valley Bank, Transmit Startups, UK Steel Enterprise and a dozen angel investors.
Simon Green, Executive Director of Venturefest North East added: “Meet the Investor builds on the success of the investment strand of last year’s Venturefest North East, where 51 businesses took part in 250 one-to-one elevator pitch meetings, with 17 businesses being offered funding as a direct result of the event. We are delighted to be working with the Business Growth Service again this year, their support enables us to widen the range of investors involved and ensure there is support to get our businesses ready to meet with them.”
One of the businesses that has been supported by the Business Growth Service following last year’s Venturefest event is Hexislab Ltd (www.hexislab.com), an innovative company who develop evidence-based natural beauty products within the cosmetics and skin care sector. Dr Olusola Idowu, Managing Director, described the impact participating in Venturefest North East last year has had on their growth ambitions.
“The connections I made from attending Venturefest have been absolutely priceless in terms of the value to my business. Through Joan Louw, Business Growth Manager at the Business Growth Service, I have been introduced to skilled experts who not only have the business experience to make an impact, but importantly have “done” it in industry. I feel like my Growth Coach understands what it’s like to be a business owner, as he’s grown businesses from zero turnover to several million, and knows what detail to focus on when it comes to growing a business and raising investment.”
Some of the companies who successfully pitched at 2014’s event are still being supported by the Business Growth Service to undertake the (sometimes lengthy) investment process. Dr Idowu of Hexislab Ltd adds:
“Over the coming year, and through Business Growth Service’s support and connections, we hope to successfully raise investment which will be used to consolidate our processes, develop our marketing strategy and employ the right people so that we can win new business. Venturefest was an eye-opener for seeing what was going on in the investment community in the region, and I wish I had known about it sooner.”
Applications are invited from businesses, charities and social enterprises until 5pm on 30th June 2015. Full details of the application process are now online at www.venturefestnortheast.com. Successful applicants will be matched with the most appropriate funders and invited to attend a series of investment masterclasses with investment advisors from the Business Growth Service in prepare for Venturefest North East 2015.
Venturefest North East will return on Tuesday 13th October 2015 at Gateshead’s Hilton hotel, with the event now a focal point of the region’s innovation community. Registration is open at www.venturefestnortheast.com. The event programme is currently in development and full details of guest speakers and workshops will be released later in the year.
