Northstar Ventures has been awarded the management of the £22.5m North East Spinout Inspire Fund.

The £22.5m North East Spinout Inspire Fund is backed by the universities of Durham, Newcastle, Northumbria, Sunderland and Teesside, as well as North East Mayor Kim McGuinness and The North East Mayoral Strategic Authority (via the North East Fund). It has been set up to commercialise the research and innovation emerging from the North East’s five universities.

Being deeply embedded in the region’s ecosystem, Northstar Ventures is adept at spotting businesses with innovative technology and the potential to scale. After investing over £19.5m in the region’s university spinouts, Northstar Ventures are highly experienced in backing ambitious innovators developing the best industry transformative technology the region’s thriving spinout community has to offer. Northstar’s investments range from the smartest AI-driven offerings to providers of life-changing medical breakthrough solutions.

To allow spinout companies to be as primed as possible to succeed in a competitive business arena requires not just funding, but the right kind of backers. Acting as a true partner, Northstar Ventures brings to the table a wealth of commercial and operational knowledge, plus invaluable access to advice, guidance and connections. This comes not only from within its own highly experienced team but also from its unparalleled range of long-established local, national and global industry partners.

The North East’s universities are recognised centres of research excellence. Their spinout companies attract and retain talent in the region, converting academic research into commercial innovation. Northstar Ventures has continually recognised the potential of the North East as a solid source of wealth creation. The company’s commitment to cementing the region’s place as a substantial player on the global stage remains a constant.

Alasdair Greig, Director, Northstar Ventures, says: “Northstar has a long history of backing university spinouts in the area. The fund gives us more opportunity to empower the spinout companies who are leveraging the North East universities’ research base to start and scale high potential, globally scalable businesses and, in the process, to drive growth and prosperity in our region.”