The Northern Regional Angel Investment Accelerator programme has launched as one of three pilot programmes, funded by Innovate UK.
Led by the North East Business and Innovation Centre (BIC), the Northern Regional Angel Investment Accelerator is delivered by the Innovation SuperNetwork and North Invest in partnership with the UK Business Angels Association.
The £1m from Innovate UK is to encourage Business Angels in the region to bring investment and expertise to pioneering innovative small and medium companies across the North East.
The aim of this pilot funding programme from Innovate UK, as part of UK Research and Innovation, is to increase the pool of regional angel investors prepared to consider investing in earlier stage, ambitious, innovative businesses in the regions.
Businesses from across the North of the UK, will have the opportunity to receive a grant of up to 50% of the costs of a specific innovation project, which lasts up to 12-months and have total project costs between £40K and £300K. Eligible businesses must be tech based, and completing novel R&D projects. Concurrent Angel investment must also be sought to allow businesses to meet the rest of the costs and grow the business beyond the project.
If you are a small or medium sized businesses undertaking R&D projects in the North, and you fit within the eligible criteria above you should send a completed expression of interest form to email@example.com.
If you are a Business Angel who would be interested in finding out more about this project please contact Jordan Dargue, Access to Finance Manager – firstname.lastname@example.org