Techies boldly going into our scientific future

Feb 28 2008 By Andrew Mernin

Tips for budding Einsteins to get funding

NEWCASTLE-BASED NorthStar Equity Investors is a venture capital firm intent on building the region’s science and technology sector through investment.

The group targets university projects and entrepreneurs with innovative ideas and helps bring them to market.

Since its launch in 2004, the group has invested in around 135 projects including drug discovery group e-therapeutics, launched by Professor Malcolm Young, which last year floated in the AIM market with a valuation of £35m.

Here NorthStar chief executive Marion Bernard reveals her tips for budding Einsteins to win funding to turn their invention into a business.

1. Put yourself in our shoes; for example, we may have time constraints so consider that when preparing your pitch.

2. Make sure the business plan has your own stamp on it with your own ideas.

3. Don’t oversell your idea.

4. Be positive.

5. Make sure you do the maths and get your figures right.

6. Remember it’s a two-way process and we are here to help.

7. Agree your terms upfront.

8. Manage the process and ensure procedures are in
place to get your business
off the ground.

9. Get a commercial lawyer – they are certainly worth the money.

10. Celebrate, then take a deep breath.