New business angel support service launched

David Smith
David Smith
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A new business angel network aims to boost the North’s technology sector by bringing together early-stage companies with experienced entrepreneurs who can provide investment, mentoring and support.

Dow Schofield Watts Angels aims to provide a strong and active angel network similar to those in Scotland and Cambridge, where angels have played a key role in the growth of the tech sector.

It has the support of many high-profile Northern entrepreneurs including Bill Ainscough of Wainhomes, Richard Law of GB Group, Peter Mansfield of Call Credit, and Anthony Molloy of Daisy Group.

The network has been launched by independent advisory firm Dow Schofield Watts and will be led by David Smith. He heads the firm’s technology team and formerly managed the North West Fund for Digital and Creative.

It aims to address the funding gap for early stage technology investments across the Northern Powerhouse region.

It will focus on promising early-stage technology businesses, particularly those with early revenues but which fall short of the size criteria of most tech venture capital investors.

Membership is open to new and existing angel investors, and requires no commitment or fees. Initially the network will invest up to £500k in each business.

David Smith (pictured) said: “The North has no equivalent of the successful angel groups in Edinburgh or Cambridge and, with the venture capital industry largely focused on London, there is a funding gap for early-stage tech companies in the North.

“However we do have plenty of successful entrepreneurs willing to invest time and money in helping others.”

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