The Journal, September 2013
Newcastle-based venture capital company Northstar Ventures is celebrating investing Proof of Concept (POC) funding into its 300th ambitious North East business.
Designed to provide early stage capital for businesses with high growth potential, POC allows enterprises to trial potentially ground-breaking concepts that will help the regional economy grow.
Northstar, which was set up in 2004, invested over £13m in just over 200 ambitious young enterprises through its initial POC Fund.
The company, which has helped numerous high growth businesses thrive, is currently investing in the regional success stories of the future through both the £25m FBNE Accelerator Fund and £15m FBNE Proof of Concept Fund.
Northstar director Ian Richards said: “We are the leading provider of early stage POC funding in the North East.
“Local decision making is key to making POC funding work. We have real experience in this area and it’s amazing what can be achieved through this type of funding.”