CONNECT wins new investment

Jun 18 2009 by Andrew Mernin, The Journal

A PROJECT marrying the brightest technology companies in the region with the major investment needed to become world class has won funding to continue its work.

CONNECT North East attracted more than 150 delegates, investors from across the country, national Government departments and corporate-venturing divisions to the security-themed investment conference it hosted in Sedgefield, in April.

Eleven cutting edge technology companies from the North East pitched to venture capitalists and investors for between £250,000 and £1m to take their businesses to the next level.

North East Regional Investment Fund (Nerif) has agreed to give financial backing to the project which is managed by Newcastle networking firm Bridge Club.

The funding will enable organisers to deliver a series of events over the coming months to help fledgling technology companies in the region unearth new opportunities and meet investors from outside of the region.

Bridge Club managing director Caroline Theobald said: “The investment conference was a great success.

“ It was really exciting to see so many major players which was evidence that there is still an appetite for bright ideas despite the economic climate.

“The introductions made at the conference are being followed up and we’re confident there will be new contracts as well as new deals being done in the future.

“We now want to build on the momentum from the conference so that we can continue to connect early stage technology companies with the funding they need to grow.”

Hugh Morgan Williams, chairman of Nerif, a subsidiary of One North East, said the investment conference showcased the bright talent the region had to offer. He said: “If CONNECT North East can bring new investment to the region and identify key technology players then they’ll have done a very good job.”

Fiona Strens, director of London-based security firm Secure Futures Ltd, also attended the investment conference and praised CONNECT for its achievements to date.

“I have always been a fan of the CONNECT concept, born many years ago in San Diego, and it’s great to see it working so well in the North East,” she said.