SETsquared partners with SWAIN to kick-start the economy
7 July 2011
SETsquared, a collaboration between the Universities of Bath, Bristol, Exeter, Southampton and Surrey that supports new business activities through spin-outs, licensing and incubation, has formed a new partnership with South West Angel and Investor Network (SWAIN) in a bid to accelerate investment in the region’s most exciting business opportunities.
Early-stage companies have struggled to raise investment during the recession and high-tech companies have suffered particularly badly. By combining the reputation and expertise of the expanding network of SETsquared Business Acceleration Centres and the expertise and existing network of angel investors in SWAIN, the new partnership expects to see a doubling of angel investing activity in the Bath and Bristol area over the next year. SWAIN will work with SETsquared to deliver new hi-tech-focused investment forums.
The collaboration was announced at the annual SETsquared Garden Party and Investment Showcase on 6 July, where 16 early-stage, high-tech, high-growth companies were showcased to over 40 investors, representatives of 10 large corporates, including Logica, Microsoft, IBM, HP, Freescale, ST Microelectronics and NXP.
SETsquared also announced that SWAIN would be opening an office within the Bristol SETsquared Centre, enabling earlier and closer interaction between early-stage companies and investment expertise. SWAIN will be SETsquared’s local ‘Funder-in-Residence’.
Nick Sturge, Director of the Bristol SETsquared Centre, commented: ‘This more formal partnership is the natural progression after so many years of working together. When SWAIN launched six years ago its first three investments were SETsquared companies. We have done well with venture capital investment recently, but there are many companies for whom angel investment is more appropriate and we are excited about accelerating this.’
Philip Tellwright, Managing Director of SWAIN, added: ‘SWAIN has enjoyed a long-standing working relationship with SETsquared and now is the time to formalise our association. Sharing offices with young dynamic businesses will enable SWAIN to get closer to our target market and running technology specific events will have significant appeal to investors known to both SWAIN and SETsquared.’