A programme to help fast-growing start-ups in the South West access investment has launched in Bristol today (January 14).
The Investment Activator Programme (IAP) brings together eight public and private-sector organisations which are collaborating on the two-year pilot scheme.
Bristol-based tech and digital hub TechSPARK will deliver the programme which includes activities to increase the flow of money into the region and showcase the West Country as a leading start-up hub.
The IAP’s main objectives are to accelerate investment; make investment support more accessible for founders; and build the network of investors and founders or leaders locally.
It is the first programme of its kind in the 海角视频, according to TechSPARK.
Briony Phillips, who has taken on the role of investment activator on the programme, said: “According to the 海角视频BAA, we have the third-largest community of angel investors (early stage) in the 海角视频, behind London and the South East.
“And yet 85 per cent of the angel investment from our region goes into the golden triangle of London, Cambridge and Oxford.
“Little do they know that Graphcore and Ovo Energy are Bristol-grown unicorns, and Ultrahaptics, Blu Wireless, Immersive Labs and Open Bionics are just a few examples of real power-hitters when it comes to raising investment and making their mark on the global tech scene.
Most Read
“The Investment Activator programme will add some much-needed capacity to help solve this challenge.”
As part of the programme there will be investment events to help entrepreneurs raise money and a relationship management programme to build connections with investors across the 海角视频.
IAP will also build on the work carried out by TechSPARK and Engine Shed, including expanding the Silicon Gorge competition which has seen more than 250 companies pitching for more than £150million.
It will also expand on the Quarterly Investment Briefing (QIB) events, which have, so far, brought together more than 300 investors to network, share knowledge and learn about potential investment opportunities in the region.
The programme has partnered with a number of organisations and bodies including enterprise software firm delaware; Engine Shed; venture tech organisation Rocketmakers; the West of England Combined Authority; talent company Sanderson; accountancy firm Smith & Williamson; law firm TLT; and the University of the West of England (UWE).
The West of England Combined Authority is co-funding the investment activator role as part of its support for the region’s creative industry.
West of England Mayor Tim Bowles said: “We’re keen to build on the successful business investment landscape in the West of England and are supporting the Investment Activator to focus on our region’s creative sector companies.
Don’t miss
“This will help them to seek investment to drive new deals, forge positive relationships with new investors and help creative companies to improve their pitching, through experience of events like Silicon Gorge.”
Tracey John, director of business and innovation at UWE, said: “The start-up ecosystem in the West of England needs initiatives that bring start-ups and early-stage companies together with investors; investors who not only provide access to funds, but also offer real business experience that is invaluable to any early-stage growth company.”
'Too often businesses are forced to go to London for funding'
In the past few years, Bristol has seen a dramatic rise in the level of investment into the city’s businesses and in 2019 outperformed Dublin, Zurich, Amsterdam, Oxford and Brussels.
However there’s still a long way to go before the region can compete with more traditional investment hubs such as London where over $8.2billion was raised last year compared to $418million locally.
Peter Ball at Smith & Williamson said: “This is an excellent initiative that will support high-growth businesses and nurture the local funding ecosystem on which they rely.
"There is no shortage of great businesses in our region but too often they are forced to go to London for funding – Investment Activator will help to reverse this process.”
“The South West start-up ecosystem has been a great success story over the past few years, with the emergence and growth of exciting businesses across a diverse range of sectors," added Marty Reid, director of Engine Shed.
“I could see this being a model that other regions will look to learn from for years to come.”
Want more business news straight to your inbox?
BusinessLive is your home for business news from around the country - and you can stay in touch with all the latest news through our email alerts.
You can sign up to receive morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we'll send out breaking news alerts for any stories we think you can't miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.