7 July 2006
NORTH WEST ANGELS KEEP BUDDING ENTREPRENEURS FLYING HIGH
The North West's thriving business angel community united last week to see three unique investment opportunities from the region's budding entrepreneurs. Around 50 people attended TEChINVEST's Investor Club meeting in Warrington to listen to a diverse range of business cases from companies looking for funding of between £60,000 to £100,000.
The event saw presentations from three very different organisations including:
* a soon to be formed company looking for £60,000 to help set up a specialist facility to handle perishable air freight
* a UK agent requiring £100,000 to help develop a business selling a highly innovative audio-visual lectern aimed initially at the higher education and overseas markets
* an established company requiring a £60,000 investment for a new project to help develop websites which provide nurses with a range of personal development resources, and healthcare companies with a new recruitment media.
"The business angel network continues to grow here in the North West, with some very promising entrepreneurs moving forward and taking the opportunity to strengthen their businesses with the help of private investors," said TEChINVEST's founder, Vivienne Upcott-Gill.
"The meeting also gave investors the opportunity to hear how one organisation has benefited from their investment, with a presentation from John Hinnigan, Chairman of voice-recording telephony expert, Veritape."
Veritape specialises in producing advance call recording and management software, which has now been installed in over 300,000 computers worldwide. John Hinnigan gave an update on the significant growth and success of Veritape since its initial backing by TEChINVEST angels three years ago. Since it was set up in 2003, the company has seen strong five-year growth projections of between 50% and 100% per year, based on its recent track record and excellent market acceptance of its system.
TEChINVEST is the region's equity advisory service provided by the Northwest Regional Development Agency (NWDA). Founded over 15 years' ago, it is one of the longest established and most successful services of its kind. Since its inception, it has helped local companies raise over £19m in direct finance and unlock a further £38m in indirect funding.
TEChINVEST's next meeting for companies and investors is on 26 September 2006. For further information on this meeting, the TEChINVEST, please visit www.techinvest.org call 01925 400302.
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Press contact: Deborah Garritty @ Bell Pottinger North