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

Mar 2015

Gateshead animation studio receives £80k funding to scale up operations

A Gateshead-based 2D animation studio has received an £80k investment from a local venture capital firm to enable it to scale up its operations and service new markets.

Mar 2015

County Durham streetwear clothing brand secures £97.5k investment

I Sunk Your Battleship (ISYB), a County Durham-based clothing brand, has received an investment totalling £97,500.

Feb 2015

Logincident secures £260k funding boost

A Gateshead-based technology company has secured a £260,000 investment to help grow its customer base and develop its products.

Newcastle-based digital agency receives £75k venture capitalist investment

A Newcastle-based digital agency is already proving its worth after receiving an investment from a North East venture capitalist late last year.

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.

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