Member Article

Technology start-up fund launched from Teesside

A new Teesside-based fund has launched to invest in technology start-ups across the country.

TwentyThreeMiles is the brainchild of Clicksco, a group of global technology companies headquartered in Dubai fronted by investment specialists Paul Callaghan and Paul Weavers.

The fund will offer investments of up to £30k for entrepreneurs to develop a company, build a product and team and successfully launch to market.

Start-ups will also receive infrastructural and administrative support including 12 months commercial accommodation around the DigitalCity technology hub on Teesside, access to London offices and practical support encompassing technical, business development, sales, finance and marketing.

Additionally, companies accessing the fund will be able to tap into Clicksco’s impressive global network of technology investors, mentors, partners and potential customers.

Paul Callaghan, former business development director at DigitalCity Business, is heading up the fund after spending five years bringing global investment into Teesside’s tech community and nurturing tech talent in the North East of England.

He said: “This fund will cultivate the innovative talent the UK has to offer, by providing capital investment, support and advice to help bring creative ideas to fruition.

“We chose Middlesbrough as a base because there is already a passion for collaboration and growth thanks to the legacy of DigitalCity and it provides the ecosystem in which tech start-ups can thrive. We not only want to support local talent, but also bring more talent to Teesside and build innovative fast-growing companies.”

John Rowe, CEO and chairman of Clicksco added: “For the UK to continue to flourish as a technology innovator, it is essential that new tech businesses can draw upon the expertise of other entrepreneurs in the sector, while accessing vital start-up funds.

“With TwentyThreeMiles we have a package that not only provides a much needed cash injection from the outset but also offers vital everyday business management support, from experienced and successful entrepreneurs.”

For more information about TwentyThreeMiles please visit http://23milefund.com/

This was posted in Bdaily's Members' News section by Tom Keighley .