InvestorQuest £1M Challenge

Fancy getting your hands on your share of the £1M earmarked by our sponsors, VIKING, YFM, EV and WYPOCF, for investment in early-stage companies seeking funds? Then check out the InvestorQuest page of our web site for more information. The whole Connect team has been at Kirkstall Abbey shooting some promotional pictures dressed as knights seeking the holy grail -which turned up in a trophy shop in York! Looking the part, we got into the Yorkshire Post on Saturday! Join the quest for the 'holy grail' a share of £1m business ...

Getting A Reaction Going

The activities of Connect Yorkshire can be catagorised into four areas and the chemists among you can think of us as being involved in a reaction. We train companies to help then make the most of what they have got and put their best foot forward, maximising their standalone potential. We help catalyse growth by lower the activation barrier to change and condense the journey, so they get to where they want to go faster. And we promote innovation, by bringing together more and more companies with the resources they need to succeed and raising the temperature and pressure to increase the chances of associations forming. This analogy to a chemical reaction is pertinent as we develop our activities.

Award nomination for Connect sponsor

We nominated one of our sponsors, Shaun Mullins of Horwath Clark Whitehill as IOD Yorkshire & Humber Business Advisor of the Year and its great that he has been shortlisted; the award will be at a Gala Dinner on 7 September

Lack of Proof of Concept Funding

We need more people starting up knowledge-based businesses. We have to acknowledge success if far from certain. There will be failures: unless there are we, as a region, are being too conservative in our thinking. However, with the help of organisations like Connect we can load the dices in favour of success and avoid the mistakes of the past. Enterprise and innovation is not a one way street. We need good technology that matches to a market need. All too often an idea misses the mark; aligning the technology with an addressable market need is what innovation is all about. Connecting entrepreneurs with the resources they need to nurture their initial seed of an idea until it reaches sustainability is a key part of the equation.

A key part of this that is lacking in the Yorkshire region is Proof of Concept funding. If we look to our neighbours, the North East has a £10M fund, set up to stimulate the growth of new technology companies. The North West similarly has access to the Rising Stars fund that backs early stage companies. These funds typically put £25-60K into a company at inception, with the option to invest further if the idea is shown to have legs. What access do would-be entrepreneurs have to funding at this level in the Yorkshire region? The reality is very little, but this is a key part of the innovation landscape.

Some pump priming is needed if we expect the region to generate sustainable technology businesses further down stream. The reality is that 3 out of 4 of these investments may not generate a return, but the ones that do will make up for the others - or that is how it should be if we are finding the correct balance between risk and reward.

Promoting an Enterprise Culture

Creating a more enterprising culture is fundamental to the future of the regional economy. We need to applaud innovators and risk takers, celebrate their successes and help them avoid many of the potential pitfalls that stand in their way. That's where we come in: Connect Yorkshire helps young technology companies by linking them with the resources they need to succeed: investment, markets, management, partners, and support services. We are here to help businesses that need a boost to reach their 'escape velocity'.

Connect has been active in Yorkshire for nearly four years and has help over a hundred technology companies raise over £13M of investment. Every year numerous more technology companies attend Connect’s various programmes. The vast majority of these businesses are started by normal people who have seen a gap in the market or how to do something quicker, smarter or cheaper.

Starting a new technology business is not easy and its a long hard road, but the potential rewards are great - just ask James Dyson! Connect brings together like-minded people and together we all achieve more than we could ever alone. If you are thinking of starting a technology business or have a great idea but don't know how to progress it, come and talk to us. We are here to help.