The Department of Business and Skills (BIS) has partnered with Innovate UK and Growth Accelerator to launch a new project that matches up promising, high-growth SMEs with suitable angel investors and early-stage venture capitalists.
Called the GrowthShowcase, the system users a platform created by JustInvesting, which has been used to raise £2.1m in venture and angel investment to date. Angel backers have included Andrew Black, co-founder of Betfair, Robert Klein of The Accelerator Group and Index Ventures, and the former EMEA Chairman for Merrill Lynch, Bob Wigley.
“Small and innovative businesses play a crucial role in the UK economy, and we absolutely recognise the importance of angel investors in supporting these enterprises,” said Innovate UK’s Nigel Walker. “GrowthShowcase is just one way in which we are working to support entrepreneurs and the early stage investment community, and we look forward to working with the JustInvesting team, benefiting from their expertise in this space.”
Paul McGuire, CEO of JustInvesting, added: “We are excited to announce the GrowthShowcase partnership which will bring the benefits of the JustInvesting platform to the many thousands of British companies backed by Growth Accelerator and the Technology Strategy Board. This partnership will create greater visibility of the early-stage UK venture market, improving access to follow-on funding for companies and helping to leverage the initial investments made by our GrowthShowcase partners.”