04 Feb 2020
A new investment programme aiming to invest in and support more fast-growing tech businesses in the North East has been launched.
Northstar Ventures is partnering with AuxinOKR to deliver the Execute Co-Investment Fund for entrepreneurs, partly funded by the North East Innovation Fund, supported by the European Regional Development Fund and managed by Northstar Ventures, alongside angel investment from AuxinOKR.
The programme will see one-to-one expert business support as well as £50,000 investment given to start-up businesses, including those at a very early stage or with a single founder.
Ian Richards, Director, Northstar Ventures, said, “We know that ambitious entrepreneurs need different kinds of support to be able to scale their businesses rapidly. By providing not just funding but also specific one-to-one support, this new programme will identify the ideas and founders that have the potential to become successful fast-growing companies, and by offering the right kind of flexible support enable them to be ready for further investment at the end of the programme.”
Paul Callaghan, Partner at AuxinOKR, said, “We’re really excited about this investment strategy and helping to create fast growing technology companies with first class founders. By offering support to execute growth strategies using the Google pioneered system of Objectives & Key Results (OKRs), together with an initial investment, entrepreneurs will be enabled to be ready for further investment and high growth. We will work with each company from our initial investment through to a significant seed round and beyond.
“We are particularly interested in companies operating in FinTech, InsureTech, PropTech, HRTech and GovTech – but the most important criteria we are looking for are the merits of the business idea and the ability of founders to ‘execute’ their vision.”
The Execute Programme is now open for applications from founders, there is no deadline for applications, they will be considered on an ongoing basis.
To find out more or have an initial conversation, go to www.auxinokr.com/stakeholders/execute-strategy-delivered/