The North’s eco-system for hi-tech entrepreneurs has been boosted by a partnership agreement between The University of Manchester Incubator Company (UMIC) and Northern StartUp 2.0 (NS20) run by eveo Ltd. Both organisations are committed to supporting hi-tech start-ups and young firms across the region, and their collaboration will help strengthen networks of growing firms, investors and the professional business community. Under the agreement, UMIC will host a number of events, starting with ‘Dragons’ Lair’ on 26th March in central Manchester.
Set up by Manoj Ranaweera, a tech entrepreneur based at the Daresbury Science & Innovation Campus, Northern StartUp 2.0 has over 1400 members drawn from the hi-tech business and investor community across the North, and runs regular events across the region. UMIC’s hi-tech and biotech business incubators house more than 50 growth-oriented firms – with a mix of ‘spin-in’ firms set up by local entrepreneurs and university spin-outs.
The 26 March event is open to all those who want to support business success and deal flow in the hi-tech sectors, with 8 pitching slots available to tech start-up’s and young firms. Amongst those giving up time to be ‘dragons’ are Ajaz Ahmed founder of Freeserve, floated in 1999 for £1.5 billion with a market cap of £9 billion a year later. Another Dragon is Manchester’s own Scott Fletcher, CEO of ANS Group, who was named Entrepreneur of the Year for the North West at the National Business Awards. As well as pitching opportunities and ‘dragons’ feedback, firms can network with experienced business owners and advisers.
Martino Picardo, UMIC’s Managing Director says: “We are looking forward to working closely with Manoj and his network. There is an excellent fit between our organisations’ activities and we see the hosting of these events as being of major importance to the community. We anticipate a strong attendance from SMEs based in our facilities and from the region as a whole.”
Manoj Ranaweera founded NS20 in November 2006 with the help of KPMG to fill a gap in the market place for northern tech entrepreneurs to meet on a regular basis. He says: “Partnering with UMIC will help NS20 achieve a step change in its effort to create an eco-system for high growth tech start-ups in the North of England. UMIC will be a catalyst in helping NS20 reach deep into one of the most prominent universities in the UK, The University of Manchester. We expect this partnership to create increased opportunities for NS20 and UMIC as well as the tech entrepreneurs we serve. I look forward to working with Martino and his team to realise our shared vision.”
Although recent research finds that UK business start-up activity remains resilient in the face of a growing recession[1], it’s generally true that survival rates are poor for start-ups and the self-employed within the first three years of trading – less than 50% of UK firms survive. Bucking this trend though are companies that locate in supportive environments such as business incubators and science parks.
Both UMIC and Manchester Science Parks report an average survival rate of 80%. UMIC and NS20’s collaboration aims to help ensure improved survival and growth rates for hi-tech firms in the North. NS20 plans to offer heavily discounted professional services in mid 2009 delivered by trusted partners who are genuinely interested in helping tech entrepreneurs without thinking of making a quick profit.
