startup scene reaches critical mass

Start up business developments are encouraging here in the U.K Newcastle in the North East of the country is seeing fresh start ups

Arguably the internet is the new market place for many many ideas and is a low cost option to launch a business. 

 Think about technology startup hubs in the UK, and the Silicon Roundabout and Tech City in London come to mind. But Newcastle has quietly built a reputation among entrepreneurs as the place to launch their businesses. A city once dominated by heavy industry offers not just an alternative, but for a growing number it is the preferred location over an over-crowded capital. Many of the startup founders come from all over the UK and abroad to participate in the country's first £1m accelerator programme, Ignite 100. But almost as many stay because of lower costs of living and a tight-knit network of fellow entrepreneurs and investors. "We are at the point where we've got critical mass in that there's a group of startups that feed off each other," said Richard Exley, an investment manager with NorthStar Ventures. "There is a sense now of building something rather than just being a part of something."

" ignite100 is a mentorship-led accelerator program for start-ups but with a big £100,000 difference. We provide seed capital, office space and mentors, and the runway necessary to sustain momentum after the end of the acceleration programme. ignite100 comes in the shape of an intensive 13 week programme based in Newcastle in the North East of England, supported by Finance for Business North East Technology Fund, managed by IP Group plc, and from the Finance for Business North East Accelerator Fund, managed by Northstar Ventures, together with a group of angel investors including Hotspur Capital Partners, Green Lane Capital, SCM Pharma co-owner Fiona Cruickshank and Alastair Waite of Onyx Group. We’ve learned that at the heart of ignite100 should be the exchange of experience, advice, know-how and counselling provided by over 50 great mentors including experienced entrepreneurs and venture capitalists. We initially provide teams funding of £5,000 per founder (up to a maximum of £15,000). The founders move to Newcastle for the 13 week programme where they receive intense mentoring and business support. Subject to the teams achieving pre-agreed milestones, the balance of the £100,000 will be released in the form of a convertible loan note (it’s a straightforward deal but please see the FAQs for more detail on this). Applications for our Autumn 2012 intake are open now here. The Finance for Business North East (FBNE) Technology and Proof of Concept Funds are two of the seven venture capital and loan funds established as part of the £125m FBNE programme. That programme has been made possible thanks to funding from the European Regional Development Fund 2007-2013 and the European Investment Bank. For further information, please see: www.northeastfinance.org"