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Pathways to Funding will receive £900,000 from the North of Tyne Combined Authority

Pathways to Funding North of Tyne, supported by £900,000 from the North of Tyne Combined Authority (NTCA), is a program aimed at simplifying the process of securing finance for businesses and social enterprises in Newcastle, Northumberland, and North Tyneside. The initiative seeks to address long-standing barriers faced by non-traditional founders and businesses in the North East. Innovation SuperNetwork, specialists in innovation finance, will lead the program in partnership with North East Enterprise Agency, North East Growth Hub, NorthInvest, and Fund Her North.

The project will create an investor hub designed to attract various sources of funding, including patient capital, venture capital, bank loans, grants, and more. It will also connect high-net-worth individuals with investment opportunities from across the region, fostering greater investor engagement in the North East.

The program aims to simplify access to finance for businesses and entrepreneurs in the region, making the process more inclusive. It also seeks to encourage more investors to explore opportunities in the North East.

North of Tyne Mayor Jamie Driscoll emphasized the importance of providing clear pathways to funding for emerging enterprises. He highlighted the challenges faced by women and minority-led businesses in accessing funding and stressed the need for inclusivity to drive regional success.

Jason Hobbs, Chief Executive at North East Fund, emphasized the significance of networks and relationships in bringing together entrepreneurs, angel investors, and investment funds. Establishing dedicated regional capacity for this purpose will enhance the chances of businesses securing investment and contribute to the region’s economic growth.

The program will benefit from the expertise of regional business support providers and national investor communities, ensuring it has a broad and impactful reach within the North East.

In conclusion, Pathways to Funding North of Tyne is set to simplify access to finance, connect investors with opportunities, and promote inclusivity in funding for businesses and social enterprises in the North East, driving economic growth and fostering entrepreneurship in the region.

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