The Northern Echo, January 2013
Northstar Ventures is a venture capital company in Newcastle that is dedicated to building successful high growth businesses in the North East.
Northstar manages two funds on behalf of the Finance for Business North East (FFBNE) programme – the Accelerator and Proof of Concept Fund.
Investing in companies throughout the region, Northstar has a number of portfolio companies in areas such as Sunderland, Teesside, Durham, Gateshead and Northumberland. But, many people still believe that if their business lies outside of Newcastle, they are ineligible for funding from sources such as FFBNE.
To try and dispel that myth, Northstar has a dedicated representative, Michelle Cooper, who is working in the south of the region promoting the funds and meeting potential investees.
“Although we have supported a number of companies in Durham and the Tees Valley, there is still a misconception that fund managers in Newcastle are only interested in tech-based university spin-outs,” she said.
“In fact nothing could be further from the truth. We have invested in a wide range of businesses and are currently working with some interesting companies across a range of sectors from energy efficiency to Software as a Service areas to packaging and manufacture.”
Case Studies:
Proof of Concept:
Curar, an animal healthcare company from Gateshead, secured £100,000 from Northstar’s Proof of Concept Fund. The investment has been used to develop and launch a new line of products, aimed at the veterinary market, that stimulates the repair of soft tissue and bones in injured pets, such as dogs and horses.
The company specialises in investigating the potential for transferring human medical devices into the veterinary field, and was founded by Dr Helen Floyd. She launched the business in 2010 with Dan Martin and Peter Masters of Octo Design, who wanted to put their business, medical devices and product-development experience together to improve animal welfare.
Helen said: “We are thrilled with the investment we have received, and we have already begun with our new products. This funding will enable us to build our existing networks and customer base to grow the company.”
Richard Exley, of Northstar Ventures added: “We are delighted to be working alongside Curar.We consider Curar a great company to invest in, and is our first investment in a veterinary healthcare business. This is a potentially important opportunity, as at present the treatment of limb injuries in animals lags behind human medicine. We look forward to watching this company grow and develop its products further.”
Accelerator:
Femeda is a Northstar investee, and has received funding from the Finance for Business North East Accelerator Fund. The company, which is based on Teesside, has developed a device for the alleviation of pelvic floor muscle dysfunction and associated urinary incontinence in the female population.
The device, which is branded Pelviva, has the potential to transform the incontinence market which is currently dominated by pads. Pelviva differs from traditional pads, as it uses technology that is based on an established methodology called electro-stimulation – this helps to relieve the condition by causing the pelvic floor muscles to tighten.