The North East’s thriving digital industry has been given a further boost with the announcement of substantial investment into a unique business incubator.
Newcastle-based Ignite provides training, incubation and consultancy services to early-stage technology companies.
Teams from across the world relocate to the North East and undergo intensive mentoring and support to ensure their digital businesses can scale globally.
Ignite has received £100,000 investment from Northstar Ventures’ Finance for Business North East Proof of Concept Fund.
The cash will be used to expand Ignite’s co-working facilities in Newcastle, provide event space for technology meet-ups and launch an education programme for professionals and children.
Paul Smith, co-founder and director of Ignite said: “Our aim is to make Newcastle one of Europe’s top 10 start-up clusters within the next five years, and this investment will ensure we can support founders, teams and investors in achieving that.”