A new initiative to support Business Angels looking to
invest in the North East has been launched at FinanceCamp, the region’s annual
investment conference, today (Wednesday 22 May).
The Newcastle Angel Hub will form part of the UK Business
Angels Association (UKBAA) wider Hub network across the country, and will be
delivered by the Innovation SuperNetwork, in partnership with Invest Newcastle.
In this first phase of development, the partnership is
consulting with angel investors about the infrastructure of support needed to
enable them to engage with more innovative regional businesses.
Jenny Campbell, investor, entrepreneur and Dragons’ Den
Panel member, who spoke at FinanceCamp, said: “Today I’ve heard some really
inspirational stories about North East businesses who have succeeded in
securing equity investment. The journey is not an easy one, and to be based in
a region where an established angel community has taken hold, certainly
improves an entrepreneur’s chances of success. The launch of the Newcastle
Angel Hub will go a significant way towards ensuring this happens more in the
North East and I will look with interest at how this continues to develop in the
coming weeks and months.”
Simon Green, CEO at the Innovation SuperNetwork, who also
deliver FinanceCamp, said: “FinanceCamp is just one Access to Finance
initiative delivered by us to support the funding needs of regional businesses.
The event has successfully matched hundreds of businesses at all stages of
growth with investors, lenders and grant providers. This has gone some way
towards de-risking investment in innovative companies and increasing investor
confidence, locally. But we’ve recognised for many years that more work is
needed to aid the development of an Angel Investor community here in the North
East.
“We’re pleased to be able to add to the UKBAA network with
the Newcastle Angel Hub. This is the first stage in an ongoing piece of work to
develop a regional support infrastructure to establish an engaged and networked
Business Angel community in the North East.”
The announcement follows news last month, that the North
East BIC (in partnership with the SuperNetwork, North Invest and the UKBAA),
has been awarded £1m in grant funding from Innovate UK to deliver one of three
Regional Angel Investment Pilots (AIP). The programme is designed to accelerate
early stage Angel investment in innovative companies across the North.
The Newcastle Angel Hub will be one way in which the AIP
will seek to facilitate new investment opportunities for investors looking to
work with innovative regional companies. Once established, it will go on to
provide the environment for Angels to engage with local companies alongside
information and support to those considering Angel investment for the first
time.
Jenny Tooth, OBE, CEO at UKBAA, said “As the UK trade
body for business angel and early stage investing, we’re delighted to be
involved in delivering the regional AIP in the North. We are also
especially delighted to be partnering with Innovation SuperNetwork and Invest
Newcastle to establish the Newcastle Angel Hub. The Hub is the latest addition
to a series of hub locations that we have set up across the country, where we
work with key partners to offer a new focal point to connect and grow the early
stage investor community. The Hub network seeks to support local scale-ups and
start-ups by increasing access to risk capital and building investor capacity
UK-wide.”
Jen Hartley, Director at Invest Newcastle, said: “The focus
of all our activity is economic growth. A strong Angel investor community plays
an important role in ensuring we continue to attract national and global
companies to base themselves here. The establishment of the Newcastle Angel Hub
is an important step towards enhancing the opportunity for growing businesses
based locally to attract investment. It also helps put Newcastle on the map as
a UK destination for angel investors.”
The first Angel investor consultation event will take place
following FinanceCamp on the 22 May, where 25 active Angels will come together
to discuss the collective challenges faced by investors looking to engage with
Innovative regional businesses.
A full programme of events will be launched in the coming
weeks, with more details about the Newcastle Angel Hub set to be revealed soon.
Angel investors wishing to share their views on how the Newcastle Angel Hub
could develop, should email hello@supernetwork.org.uk.
For more information on the Regional Angel Investment Pilot, visit www.SuperNetwork.org.uk
