New support programme will help North East businesses

The new business support programme been developed by the team behind innovation conference Venturefest North East, with backing from the North East LEP, North East Finance, the North East BIC and Innovate UK.

It will culminate in a major event on June 21 at Ramside Hall, where businesses with bright ideas will meet lenders and investors.

Simon Green, Executive Director at Venturefest North East, said: “Venturefest’s investor introductions have helped secure hundreds of thousands of pounds in finance for businesses across the North East over the past few years and FinanceCamp builds on this success story.

“Businesses told us that they needed more opportunities to explore their finance options and we have responded with this exciting new programme designed to save time and simplify the investment process.”

FinanceCamp has been shaped by input and ideas from a wide cross section of businesses, government bodies, research and educational institutions, business representation groups and support organisations who have an interest in accelerating innovation in the region.

Hans Möller, Innovation Director at the North East LEP, said: “We know SMEs have struggled to secure finance in recent years and as such wholeheartedly support initiatives like FinanceCamp North East and our own North East Investment Fund, which provide businesses with the capital they need to grow and create new jobs.

“The Venturefest North East team has done a fantastic job getting this new scheme off the ground.”

Support provided to businesses taking part in FinanceCamp will be tailored to their needs, stage of growth and structure.

Expert advisers will work with each participant to explain all of the finance routes open to them, weigh up what fits their plans best and prepare their proposition to make it as attractive as possible to investors. Once they are fully prepared, businesses will then be introduced to a range of potential funders.