Published Date:
06 November 2009
By PETER RANSCOMBE
PRIVATE investors are still an attractive source of funding while bank managers' doors appear to remain closed, according to hi-tech firms at yesterday's Connect conference in Edinburgh.
Business angels and venture capitalists said they were stepping into the gap left by banks not lending to small firms.
Up to £45 million from 26 "angels" was up for grabs yesterday, with 15 technology firms trying to catch investors' eyes.
Connect Scotland – an annual gathering of investors and tech firms that began in 1996 – folded last year under a pile of debt.
But the concept was salvaged by Glasgow-based GO Group, which supports small business start-ups and runs similar conferences around the UK.
Isabell Majewsky, chief executive of the GO Group, told The Scotsman: "We talked to investors and tech firms about what they wanted from Connect and then stripped it back to the basics – investors want short, sharp pitches."
She abandoned plans for lectures and a debate and instead focused on coaching the 15 businesses pitching for investment.
Angels represented at the event included TriCap, Pentech Ventures, Kelvin Capital and Scottish Equity Partners.
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Last Updated:
05 November 2009 8:42 PM
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Source:
The Scotsman
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Location:
Edinburgh
