BOOST FOR
The bid to attract high technology businesses to
The award is another valuable addition to the unique business and technical support package that DIDA provides at its recently launched £1.3m Consett Innovation Centre.
The Centre not only provides new technology ventures with high quality accommodation but also gives tenants unique access to on-going support covering a range of issues from a team that has particular expertise and hands-on experience in the technology field. These include product development, product marketing, strategic business planning, financial packaging and management development.
"NSEI is a provider of Proof of Concept investment for pre-start and early stage technology ventures," explained DIDA Chief Executive Eddie Hutchinson. "This provides investment at the very earliest stage, funding projects when success is far from guaranteed, and is aimed at developing early stage technologies into attractive prospects for further investment.
"Applications are made through sponsors and the only other sponsor in
"As sponsors we can not only help appropriate businesses to apply for NStar funding but also act as mentor and project manager, working closely with NStar to help the business achieve its objectives. This new role underlines our determination to bring new investment to Derwentside and make Consett Innovation Centre a recognised centre for high tech businesses."
Dr Alex Buchan, NStar Investment Manager, said: "Our North East Proof of Concept Fund for early stage investments is unique and, to date, we have funded more than 60 projects worth £4m. Investments are available to help with key issues such as proof of technology, feasibility studies and prototypes, market research and business development.
"We support science and technology-based small and medium sized enterprises as well as pre-start spin-off companies so working with DIDA and the Consett Innovation Centre is an ideal partnership for us."
