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Proof of Concept Fund

The North East Proof of Concept Fund (POC) was launched in December 2003 to invest in local science and technology-based companies in their earliest stages.

The capital was provided by the European Regional Development Fund and One North East with the intention that these investments would catalyse innovation from the region’s science and technology base in both academia and the SME community.

Owing to the success of the £0.75m pilot fund and the £10m main fund, a further £2 million was made available to entrepreneurs to the end of 2009.

We hope you enjoy looking through a selection of the POC portfolio.

Latest News

Jan 2015

North East entrepreneur sees 150% sale increase for cloud-based startup

North East entrepreneur Ross Linnet, CEO of cloud-based web accessibility specialist Recite Me, has announced a 150% increase in sales for the startup company in the past year.

Jan 2015

£2 million investment for Sunderland diagnostic company

Sunderland-based UroSens Ltd, a diagnostic company developing novel, non-invasive urine tests for the detection of prostate and bladder cancer, has announced it has received £2 million ($3.02 million) investment.

Dec 2014

North East venture capitalists weigh in on positive year of investing

Venture capitalists in the North East have lauded 2014 as a positive year for the investing landscape of the region.

Dec 2014

Sunderland’s UC&C secure £250,000 venture capital funding

Communications wholesalers UC&C have secured £250,000 from venture capitalists Northstar Ventures’ Accelerator Fund.

Newcastle’s RecruitmentForce to hit £1 million milestone

Newcastle-based online recruitment software specialist is on target to turnover close to £1 million by the end of the year.

Dec 2014

Newcastle entrepreneur Tony Holt launches fitness app

Newcastle-based entrepreneur and keen cyclist Tony Holt has launched a new fitness app to help motivate cyclists to train over the winter after securing funding from North-East venture capital company Northstar Ventures and pre-seed accelerator Ignite.

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