A consortium led by Sunderland-based North East Business and Innovation Centre (BIC), has received £1m from Innovate UK to support the growth of local angel networks across the North East, Yorkshire and North West. 

The programme, which partners with the Innovation SuperNetwork, NorthInvest and the UK Business Angels Association, will encourage investment in innovative early stage companies.

Northstar Ventures have also secured £1m to work directly with start-up businesses coming out of North East universities to help them secure angel investment and grant funding to accelerate their growth potential at an earlier stage.