What are Tech Trust Angels?
Manchester Tech Trust launches Tech Trust Angels that gives start-ups easy access to funding.
21:15 08 November 2018
Manchester Tech Trust has recently launched Tech Trust Angels, which has already made its first investment of £350K in a biomedical AI company called Biorelate.
The trust, which consists of a group of experienced technology, was launched to address the number one challenge faced by start-ups in Manchester’s tech cluster – access to funding.
In a report released in 2014, Manchester Tech Trust said that “for the start-up or small SME, finding funding can be a chaotic process” because , although “there are many active high net worth individuals in the NW who regularly make significant investments in early stage businesses….their profile is low, preferring to stay within their small networks and usually behind the more public face of corporate finance or funding aggregators”.
Dr Daniel Jamieson, CEO at Biorelate said: “Manchester Tech Trust gave us a platform in which to engage with a credible group of high-profile Manchester-based angels who I’m now delighted to be working with. It’s unlikely we would have had this exposure without the help of Peter and his colleagues and I very much hope that other early stage businesses can benefit from the professionalism we encountered.”
Nathan Day, Manchester Tech Trust Angel: “Like many investors, we’re looking for scalable businesses in high growth sectors so Biorelate was a good fit from the outset. We were also impressed by Dan and his team and this gave us confidence to look at the business fundamentals and then syndicate the investment across the angel group. I was delighted to join the Biorelate board and look forward to working with Dan and the team.”