Ignite programme receives £100k cash injection

Ignite 100, the Newcastle-based technology startups programme has secured £100k investment from Northstar Ventures Finance for Business North East Proof of Concept Fund.

The investment will be used to expand Ignite’s co-working facilities in Newcastle and launch an education programme to increase the standard of computer coding skills amongst professionals and schoolchildren.

Paul Smith, co-founder and director of Ignite said: “Since our launch we’ve been dedicated to supporting the region’s startup community. Our aim is to make Newcastle one of Europe’s top 10 startup clusters within the next five years, and this investment will ensure we can support founders, teams and investors in achieving that.”

“Skills such as coding and design are a scarcity, not only in the region but across the country, so we can make a real difference to the long-term fortunes of the North East by championing education in digital technology, and ensuring our children have every chance to compete in what will be a truly digital future.

“I’m hopeful our lead will also inspire the region’s technology giants such as Sage to invest in the next generation of developers and designers at an earlier age.”

Alex Buchan, investment manager at Northstar Ventures, said: “Ignite is currently running its third incubator programme. We have supported all the companies that have taken part and been impressed with both the quality, experience and the calibre of the companies that have graduated from the programme. We were keen to invest in Ignite itself so they can keep up the good work and maintain their reputation as a leading UK Accelerator programme.”

While Ignite is North East-based the programme also has presence in London and New York through events and alumni businesses.

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