Fulfilling a pressing need to support ground-breaking ideas and businesses not only in Leeds but also in the Northern region in line with the Government’s aspirations to drive its growth, Dr Beaumont, through his latest initiative Northern Invest, has taken one step forward towards realising the concept of the Northern Powerhouse backed by the Leeds City Council, Leeds City Region Enterprise Partnership (LEP), KPMG and the UK Business Angels Association. Explaining North Invest further he said:
We are trying to align ourselves with the Tech North vision which is an entity created by central government to promote growth in technology businesses in the North of England. Their aspiration is to create a pan northern co-investment. We are very much aligned with that aim.
A platform that links angel investors with business start-ups, ideas and opportunities, North Invest is a one stop shop for all your funding needs at various stages of your business. Whether it’s a mere idea for a new venture or you seek further diversification or growth within a traditional business, North Invest could be the ideal route to finding your investor. “North Invest is really open to anyone but there is a focus on transformation and growth through the smart use of latest technology,” highlighted Dr Beaumont.
Currently, the main focus of the platform is on selectively bringing in expertise from what they believe to be high growth areas such as smart cities, e-health, logistics and so on, taking on board successful entrepreneurs who not only have the appetite to invest time but also mentor their chosen businesses or business ideas. Dr Beaumont
Everyone’s journey is slightly different and that’s why we need that diversity of different expertise. Some businesses need a very tiny amount of money and a lot more expertise and sometimes they need very little input but a lot of money; so because there isn’t one size that fits all, North Invest ensures that we have a range of different investors with different appetites and different expertise.
As such, some of the region’s significant entrepreneurs from a diverse areas of expertise have already joined hands with North Invest as angel investors, such as Lawrence Tomlinson, Chairman of the LNT Group, Rachel Hannan, Investor, Stephen Wilcock, Managing Director (EMIS Group) and Glynn Robinson, Managing Director at BJSS to name a few. While certain investors are prepared to invest up to £50,000; others will invest up to half a million pounds and some even slightly more.
“Looking forward we hope by this time next year we will also be bringing in institutional investors to take businesses to the next stage so that the larger funding rounds will be 10 to 50 million pounds,” added Dr Beaumont who also touched on their plans to bring access to other kinds of funds around the region as well as aggregate funding across the public and private organisations.
North Invest has a simple and straightforward application process powered by JustInvesting and lets you submit your business idea along with your details which in turn will be seen by angel members. With the option of complete anonymity there is also no need for you to disclose all details until there is an interest by an investor. “It’s a private platform and the reason we chose JustInvesting is because it’s also the platform used by several other initiatives in the North and several more in the UK. As we start to see more usage we want to break down the barriers between cities and have opportunities in other cities be visible to investors in Leeds and vice versa; so we create a northern platform that is by default compatible with other cities,” added Dr Beaumont.
A not-for-profit company, North Invest is owned by its investors and mentor members who pay a membership fee to the company; and anyone that subscribes to be a member of the company in turn signs up to the articles and the charter of the company, which is promoting betterment in the North of England and of course in the Leeds City Region.
For more details please visit: North Invest