Envestors to fund university tech spin-outs
ENVESTORS, the private investor network, has agreed a partnership with the University of Manchester’s Incubation Company (UMIC), its intellectual property arm (UMIP) and Manchester Science Parks to be a funding partner for the university’s tech spin-outs.
Envestors will put firms through investor readiness programme and offer them the chance to pitch to its investor network for funding.
Envestors is currently working with Imagen Biotech, which is based in UMIC’s facilities at the Manchester Bioscience Incubator, to provide investment support.
Imagen Biotech has developed analysis software which helps pharma firms to manage the drug screening process.
Tom Wilkins, managing director of Envestors, said: “As the banks continue to restrict lending, entrepreneurs are increasingly looking for alternative funding avenues, which is where private equity, venture capital and private investor networks, like ourselves, can help bridge the gap.
“The biotech and technology market offers a great potential for fast-growth investment, and this is a particular focus for us. We hope the partnership will reinvigorate the sector and stimulate a dynamic environment for technology businesses to grow.”
UMIP CEO Clive Rowland said: “The entrepreneurial spirit is prevalent in the North West. Our partnership with Envestors will provide the opportunity to showcase exciting innovative companies from the region and help them reach the next stage of their development.”
Envestors, launched in the North West by entrepreneurs Scott Fletcher, Imran Hakim and Mike Perls, was a runner up in TheBusinessDesk.com’s North West Business Master awards.
