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

Feb 2016

The sky’s the limit for VREO

A North East based company that manufactures USB3.0 interfaces for a range of cameras has reached a key milestone, following a 6-figure investment from the Finance for Business North East Accelerator Fund. Vision systems manufacturer VREO Innovation Ltd has brought …

Jan 2016

Supporting social enterprise and investment in voluntary organisations in Cumbria

In a region where there has been such a difficult start to the New Year there has been some good news, thanks to Northern Rock Foundation, which has announced a further 2 years funding for a Fund set up to …

Jan 2016

North East technology firm – named ‘one of most creative companies in England’ – closes 2nd investment round.

A 3D-printing technology company, which was recently named one of the top 50 most creative firms in England, has closed a 6-figure investment round led by regional investment firm Northstar Ventures. Whispering Gibbon is a technology company that enables virtual …

Dec 2015

Proof that Santa really does fly across the Night ‘Skignz’ on Christmas Eve?

  Augmented Reality company Skignz (think ‘sky-signs’) has launched a novel Christmas countdown to help parents get their kids into bed on Christmas Eve. This Christmas Eve, Skignz users will be able to use the app to reveal Santa Claus …

Nov 2015

Six Figure Investment Helps Solar Angel Fly Higher

A £200,000 investment package is helping a young North East company take the development of its pioneering solar energy panel on to the next exciting stage. The Solar Angel, designed by Consett-based Natural Technology Developments, has been described as the …

Nov 2015

Advancements at online skills assessment service see new jobs for Sunderland

A provider of online skills assessment for the technology industry has experienced rapid growth in its first year, leading to the recruitment of 10 staff in Sunderland. Technically Compatible recently introduced new developments to its testing platform which has not …

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