An investment and support agency for London-based technology firms recently announced that it has already assisted 100 start-up businesses since its launch two months ago.
Mayor Ken Livingstone’s agency for business and jobs, gateway2investment (g2i), along with the backing from the London Development Agency (LDA), has used its pool of resources to help encourage the growth and formation of new technology firms in London. The new agency also aims to forge stronger bonds between the Capital’s investor community as well as the many aspiring entrepreneurs who have plans of forming and operating their own businesses.
The programme’s funding comes from a consortium that is led by financial advisers Grant Thornton. The consortium is also composed of E-Synergy, Library House, The Innovatory and Quo-Tec. The group helps start-up firms secure investments of between £50,000 and £2m.
One particular firm that has benefited from the g2i programme is Ymogen, a small start-up business involved in the creation of a new, digital interactive marketplace for corporations.
Mark Hardwick, Chief Executive Officer of Ymogen, said that the g2i programme has helped his company bring the business to the next level.
“g2i taught us how to fundraise, gave us the exposure we needed to raise finance and develop the business through expert advice. We were struggling to find the advice and guidance we needed before we heard of g2i and its unique offering – access to investors, consultants, lawyers and other intermediaries from day one of the programme – free of charge,” he said.
The programme has a life of three years, free of charge, and also provides businesses with investor feedback, action planning reviews and personalized diagnostic meetings that cover all aspects of running a technology business.