£1.2m secured for tech start-ups to bring innovative ideas to life
Five tech start-ups based at Sheffield Technology Parks are doubling down on research, innovation and business expansion after securing a total of over £1.2m in investment throughout summer 2023.
The start-ups, which range from an app that enables safe, shared and sustainable travel, to a health tech company creating pioneering programmes to reverse chronic diseases, have received financial backing from a range of sources including venture capitalists, private Angel Investors and grant funding.
Part of the Cooper Project, Sheffield Technology Park’s business incubator, the start-ups are given workspace, business guidance and coaching to help them develop their ideas, establish business strategies and seek investment to support their growth.
The secured funds will be invested in a range of activities, many delivering benefits for the region’s economy.
This includes job creation, investments in equipment and premises, and partnering with other organisations to conduct crucial research to underpin tech products and services.
A Fleet for Change has been awarded £80,000 grant funding from Innovate UK.
Focusing on improving shared transport so it is safe, affordable and more sustainable, the start-up is now able to conduct research that will inform its app development and service design, enabling it to deliver a pilot project.
Another start-up to receive investment this summer is Future Greens, a vertical farming company that has secured a six-figure sum.
Its team is researching and developing sustainable farming methods that use food waste as the primary energy source, and is looking for new Sheffield-based premises to build a vertical farm.
Hero of Health – a health tech start-up offering software as a service (SAAS) to NHS trusts – secured £250,000 from a number of private Sheffield-based Angel Investors throughout the summer.
The company has a mission to support healthy aging and to reverse chronic illnesses through evidence-based lifestyle programmes, delivered through technology.
A further two start-ups secured totals of £300,000 and £385,000.
Tom Wolfenden, CEO of the tech hub comments, said: “Our entrepreneurs work hard to bring their ideas to life and secure commercial success.
“The investments we’ve seen over the summer months are testament to that hard work and to the commitment these individuals have for their work, not to mention exceptional levels of skill and expertise.
“As we start to see these companies grow and scale, there will be more jobs created in the city, more opportunities for collaboration and reasons for people to come here and invest in our economy. It’s great news all round for Sheffield and South Yorkshire.”
