ten talented business teams turned out at Newcastle’s Tyneside Cinema yesterday to pitch their bright ideas to angel investors, colleagues and mentors in the hope of winning crucial new investment to deliver and expand on their visions.
The North East hopefuls were selected from a group of over 200 by ignite100, Europe’s first £1m digital startup accelerator.
The demo day included contributions from the likes of Twinkler, a business that provides an easy way for friends to sort out collective bills; SpecifyBy, an online resource for architects to browse the products they need; and Reframed, created to revolutionise how internet users interact with and share video.
Entrants were looking to win investment from the Finance for Business North East (FBNE) Accelerator Fund, managed by Northstar Ventures, and the FBNE Technology Fund. managed by IP Group plc, together with a group of angel investors.
Paul Smith, director of ignite, said: “The quality improves every year. I expect there will be some new investments made in the coming weeks.”