21.09.2007
Connect Yorkshire awards business support to RandomStorm.
Connect Yorkshire has awarded £4,000 of consultancy support to four young Yorkshire science and technology companies as part of its InvestorQuest business challenge, enabling them to develop their business ideas for potential investment of £1 million.
The four companies, RandomStorm (Leeds), Tyrecycling (York), Neotherix (York) and Data Equation (Sheffield), were awarded at Connect Yorkshire's InvestorQuest Red Carpet Day in Leeds on 20 September, following presentations to a panel of experts and investors by a shortlist of ten hopefuls.
RandomStorm Ltd develops vulnerability management systems for consumers and businesses, Tyrecycling manufactures products from tyre crumb originated by discarded tyres, Neotherix devises medical technology for post-surgery tissue repair, and Data Equation develops computer file systems for creative and digital industries that can be accessed online internationally.
The consultancy support is being provided by InvestorQuest's four sponsors Clarion Solicitors, Murgitroyd & Co, Mazars and Turn Key, a group of business professionals, with specialities in law, intellectual property, accountancy and marketing. The consultants will work with the four young companies, advising them on developing their ideas and honing their bids for potential investment.
Each company presented to investors from the Viking Fund, Enterprise Venture's Rising Stars Fund, YFM Group and the South Yorkshire Investment Fund's Seedcorn Fund. These four funds each have up to £250,000 to invest into any viable business proposition presented to them at the InvestorQuest Red Carpet Day.
Glen Hopkinson, managing director, Connect Yorkshire, said: "The breadth of development and entrepreneurship represented by the companies at InvestorQuest is inspirational and demonstrates the growth of innovative technology in Yorkshire. We look forward to working with the winning companies and our sponsors to set them on the path to investment."
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