04 Feb 2019
Accelerator programmes are an important part of the eco-system and as part of our aim to support and help businesses at all stages of their growth we’re delighted to be involved in accelerator programmes in the region.
A recent report statedthat, ‘Companies that attend accelerators raise 44% more money than those that don't, and are 75% more valuable by growth stage.’ Accelerator programmes can provide access to mentors, knowledge, skills and learning experiences, as well as investment opportunities, that would be difficult for founders to get anywhere else.
We welcomed the fantastic Ignite team back home to Newcastle, for the first time in three years, supporting their initial pre-accelerator which has just finishedwith 20 founders recently completing their journey on this, and a new 6-month full accelerator programme getting underway.
Ignite’s programmes give start-ups the chance to benefit from investment, mentoring, and business support as well as become part of a wider supportive community of founders.
Tristan Watson, Ignite MD, said, “The past couple of years have been hard for the start-up ecosystem in the North East. With a lack of funding and clarity around the support structures on offer, many founders struggled to get their start-ups up and running.
So we were delighted when we were finally able to get the funding to restart our North East based activities and launch our latest programmes in the region. We've been excited about the number and quality of entrepreneurs and ideas that have approached us and it's been a challenge, but a very welcome one, to select those to come on our programmes.”
As well as the Ignite programmes, we are also supporting Durham City Incubator (DCI)- a joint venture between Business Durham, Durham University and New College Durham.
DCI has been launched to support ambitious businesses based in County Durham which are less than a year old to achieve their goals, and local entrepreneurs launch start-ups with high growth potential.
We are also working with the Innovation Supernetwork, National Innovation Centre for Ageing and Newcastle City Council, on a programme to identify new solutions for an ageing society. Innovation in Ageing involves idea-generating workshops (the third one is on 6 February) and applications will then be open for those who want to go on the further six month programme which will offer a range of support to further develop ideas, investment opportunities and work space.
Alasdair Greig, Director, Northstar Ventures, said, “We are delighted to be able to support more innovators and start-ups through accelerator programmes. It’s important that we encourage entrepreneurs at each stage of their journey – if they are supported to be able to take the first steps they are more likely to go onto develop their passion and ideas into a sustainable, scalable business.”