FinanceCamp North East, a programme for local businesses to access the financial support they need to grow, has been launched.
Developed by the team behind the region’s annual innovation conference, Venturefest North East, the initiative will see expert advisers work with participating companies to explain all of the finance routes open to them, weigh up what fits their plans best and prepare their proposition to make it as attractive as possible to investors.
Once they are fully prepared, businesses will then be introduced to a range of potential funders and investors at an event at Ramside Hall in Durham on June 21.
Enterprises of all sizes, structures and sectors are being urged to apply for the programme now to explore different ways to finance their ambitions – whether that’s through a start-up loan, a multi-million-pound equity deal or anything in between.
FinanceCamp has been shaped by input and ideas from a wide cross section of businesses, government bodies, research and educational institutions, and business representation groups.
It also has backing from the North East LEP, North East Finance, the North East BIC and Innovate UK.
Simon Green, executive director at Venturefest North East, said: “Venturefest’s investor introductions have helped secure hundreds of thousands of pounds in finance for businesses across the North East over the past few years, and FinanceCamp builds on this success story.
“Businesses told us that they needed more opportunities to explore their finance options throughout the year and we have responded with this exciting new programme designed to save time and simplify the investment process.”
Hans Möller, innovation director at the North East LEP, said: “We know SMEs have struggled to secure finance in recent years and, as such, wholeheartedly support initiatives like FinanceCamp North East and our own North East Investment Fund, which provide businesses with the capital they need to grow and create new jobs.
“The Venturefest North East team has done a fantastic job getting this new scheme off the ground.”
Support provided to businesses taking part in FinanceCamp will be tailored to their needs, stage of growth and structure.
Photo: Left to right, Hans Möller (North East LEP), Dawn Dunn (North East Finance), Paul McEldon (North East BIC), Paula Rogers-Brown (KTN) and Simon Green (Venturefest North East).