The North East Proof of Concept Fund is a £15m fund for early stage technology businesses. The University will work in parallel with the region’s Centres of Excellence, individual entrepreneurs, technology start-ups and SMEs to develop new businesses.
The Fund’s investments will generally be between £20k and £100k, but it has the ability to complete follow-on investments above this level.
The North East Proof of Concept Fund is managed by NorthStar Equity Investors who are experienced investors in companies developing innovative products and technologies in areas that reflect the core strengths of the North East: health sciences, energy and process technologies, as well as other technology businesses including digital media, IT and communications.
In addition to targeting eligible technology businesses located, or with substantial operations, in the North East of England, NorthStar also seek to invest in businesses that are willing to relocate to the region.