UMi promises ‘even bigger impact’ after Innovation Supernetwork swoop

A business support organisation has been taken over.

Innovation SuperNetwork is now part of UMi Holdings.

UMi says the deal will “provide even more opportunities for businesses to do more and go further… and access the best advice and support in areas such as investment, digital technologies, innovation and supply chain development”.

Known for delivering the annual VentureFest North East conference, Innovation Supernetwork has convened finance support for more than 1700 businesses, with its Northern Investor Hub helping leverage more than £40 million investment since 2019.

Hailing the organisation’s potential under its new ownership, Nicki Clark, chief executive at Durham-based UMi, pictured, above right, said: “The addition of Innovation SuperNetwork enhances our collective ability to create an even bigger impact.

“Both have very clear and aligned purposes – to help SMEs do more and go further by taking the hard work out of accessing and using expertise and finance.

“I’m incredibly excited about the additional impact and success that will be achieved.”

Estelle Blanks, Innovation SuperNetwork’s outgoing chief executive, pictured, above left, added: “It has been an incredible privilege to play a leading role in establishing and growing Innovation SuperNetwork.

“I decided to take up an exciting new career opportunity at the beginning of the year and, alongside the directors of the board, explored several options to continue SuperNetwork’s growth.

“UMi recognises the strengths of both organisations, and increases the potential for SuperNetwork to enable sustainable and inclusive economic growth.”

UMi has worked with more than 600,000 businesses across the UK since 2007, during which time officials say it has defrayed £300 million in grants and loans, and leveraged £650 million of private investment.