CONNECT North East Wins New Funding

Following its successful launch, Bridge Club has won funding from NERIF (the North East Regional Investment Fund), to continue with the project. The funding will enable CONNECT North East to deliver a series of events over the coming months to help fledgling technology companies connect with new opportunities, access the investment readiness courses offered by its partners and meet more investors from outside of the region.

CONNECT North East attracted more than 150 delegates, investors from across the country, national Government departments and corporate-venturing divisions to its security-themed investment conference in Sedgefield, in April. Nine cutting edge technology companies from the North-East pitched to venture capitalists and investors for between £250,000 and £1m to take their businesses to the next level.

Hugh Morgan Williams, chairman of NERIF, a subsidiary of One North East, said the investment conference showcased the bright talent the region had to offer.
“If CONNECT North East can bring new investment to the region and identify key technology players then they’ll have done a very good job,” he said.

“Caroline Theobald’s enthusiasm for this project plays a huge part in securing the funding. I’m keen to see CONNECT North East’s work continue and develop and to see early stage technology companies have more choice in terms of how they go about finding funding.”

Fiona Strens, director of London-based security firm Secure Futures Ltd, also attended the investment conference and praised CONNECT for its achievements to date.

“I have always been a fan of the CONNECT concept, born many years ago in San Diego, and it’s great to see it working so well in the North East,” she said.
“We were impressed at the way CONNECT North East managed to attract such a strong set of innovative companies to the recent security conference at Hardwick Hall and we know that connections made at the conference are now bearing fruit for several of the participants.”

Jonathan Gold, CEO of Finance Tree, and one of the founding partners of CONNECT North East, said there was a real need for a coherent networking activity to bring together investors, entrepreneurs and the providers of specialist business support and finance.”

He said Finance Tree had recently established a new venture capital company in the region, Rivers Capital Partners, a joint venture with E-Synergy and that CONNECT would be an important route for fund managers such as Rivers Capital to businesses looking for investments.

“CONNECT has already begun to make a difference to the region. We are determined to work with it to continue to make the North East a great place to start and grow technology companies,” he said.

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