A new business angel network aiming to boost the Northern technology sector has reported a "strong demand” for funding and investment opportunities in its first month.
Dow Schofield Watts Angels, which launched in June, has already attracted over 50 potential investors and received nearly 40 requests for funding from tech firms.
The organisation is now targeting £5m of investment in high-growth tech businesses over the next three years as it connects early-stage companies with entrepreneurs who can offer investment, mentoring and support.
Led by Warrington-headquartered advisory firm Dow Schofield Watts, the network has the support of a number of Northern entrepreneurs.
Those backing the initiative include Bill Ainscough of property firm Wainhomes; Nick Bate of insurance software company SSP and cloud services provider Nasstar; Richard Law of data firm GB Group and car finance business Zuto; Peter Mansfield of fintech firm Deko and analytics software brand Call Credit; and Anthony Molloy of telecoms company Daisy Group.
David Smith of Dow Schofield Watts said: "The North lacks the type of angel groups that have been so successful in driving growth in Edinburgh or Cambridge. DSW Angels aims to bridge that gap.
"We are delighted with the response, which shows the strong demand not only for funding, but also for investment opportunities.”
He added: "Our angels are mainly experienced entrepreneurs who now want to help others, and many have stated that they are willing to play an active role in mentoring and supporting the firms they invest in.”
Working alongside digital sector accelerator Tech North, DSW Angels plans to host events for prospective angel investors in Manchester and Leeds later this year.
Read more at bdaily.co.uk