Member Article

Minerva invests £2.6 million in fledgling businesses

One of the Midlands’ leading business angel investor networks has celebrated another successful year.

Minerva Business Angels, based at the University of Warwick Science Park, has made 22 investments totalling more than £2.6 million in the last three years.

Tim Powell, who leads the Minerva Business Angels based at the University of Warwick Science Park, said that 2013 promised to be an exciting year for the network as many investments were scheduled to reach important milestones.

That was one of the main talking points during the networks end of year celebration held at the University of Warwick International Digital Lab. Over 100 people attended the event which saw presentations by members of investee companies summarising progress so far and future aspirations.

“A number of early recipients of Minerva Business Angel investment are now gearing up for growth this year with the launch of new products,” he said.

“It’s an important time for our companies, as well as their investors, and a period which promises to be the most exciting in the history of the network.

“We have invested in a diverse range of sectors, from medicine to broadband, at a time when traditional sources of finance remain difficult to access.

“This underlines the importance of business angel investor networks in the current climate and Minerva is delighted to have played a part in supporting commercial growth for fledgling companies which would not otherwise have been likely – or even possible.”

Some of the Minerva-invested companies located at the Science Park due to launch products during the next 12 months include Genesis Technical Systems, which has produced a product to increase broadband speed; Cipher Surgical, the developers of a medical instrument; Warwick Audio Technology, which has designed innovative lightweight thin loudspeakers; and Sparcana, which produces beauty therapy appliances and consumables.

For more information, or to discover how to join the Minerva Business Angel Network, visit www.minerva.uk.net.

Picture caption: (Front l/r) Roger Wilson (investor), Derek Mottershead (Warwick Audio), Tim Powell (Minerva). (Back l/r) Andrew Newell (Cipher Surgical), Bill Munday (Blendology), Ian Mackenzie (Genesis Technical Systems), Paul Markgraf (Cipher Surgical/investor).

This was posted in Bdaily's Members' News section by Simon Gilbert .