Proof of Concept Fund

The North East Proof of Concept Fund invests in pre-start, early stage or more mature science and technology-based companies. Such companies are frequently led by committed entrepreneurs who, due to the unproven state of the technology, lack the ability to raise finance through conventional means such as banks and are too early to attract venture capital investment.

The POC Fund helps plug the equity gap faced by companies in their very earliest stages, where risks are high. Investments are made up to £60,000, with a maximum of £90,000 for university pre-start projects. The POC Fund investment takes the form of a convertible loan.

Investments are helping to catalyse innovation from the North East’s science and technology base, in both academia and the business community.