Member Article

North East entrepreneur sees 150% sale increase for cloud-based startup

North East entrepreneur Ross Linnet, CEO of cloud-based web accessibility specialist Recite Me, has announced a 150% increase in sales for the startup company in the past year.

Ross is now urging other SMEs in the region to follow his lead if they want to expand, crediting company’s growth to the support and investment it has received from Newcastle-based Northstar Ventures.

Since setting up the Gateshead-based company in 2010, Ross has benefitted from investment totalling £440k from the Finance for Business North East Accelerator and Proof of Concept funds – both managed by Northstar Ventures.

Now, he is urging other startups and early stage companies to follow the same route and access some of the £5 million available this year through the two funds.

Ross said: “When I first approached the team about funding, back in 2010, I had a very basic business plan.

“Northstar helped me bring it up to scratch and to develop a more scalable proposition.

“Northstar has always supported us and our vision for Recite and we have been able to produce some amazing new technology through this.

“Consequently, we were invited to accompany the Prime Minister, David Cameron, and Chancellor of the Exchequer, George Osborne, on two trade trips to China and, last summer, to meet HM The Queen at Buckingham Palace.

“In addition we are now preparing to join the Lord Mayor of London at a Business, Innovation and Skills, dinner and reception in March!”

Director at Northstar Ventures, Alasdair Greig, said: “We are looking to back another 20+ businesses this year across a range of sizes and sectors.

“If any business in the region thinks they can benefit from our funding and involvement, please pick up the phone and have an initial chat with one of our investment managers.

“You don’t need a fully-fledged business plan in place as we will work with you to produce a fundable plan.

“And, if we are unable to provide your company with funding we will always be happy to point you in the right direction to help you fulfil your investment needs.”

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