• Supported by the North East Fund, European Investment Bank, and the European Regional Development Fund • Delivered by Generator & Auxin Services, funded by NorthStar Ventures • Innovative idea, product or service • £10,000 funding package: o £6,000 to build the initial proposition or prototype o £4,000 to fund the business support and deliver the outcomes • Open to any sector
• Limited registered SME (SME definition: <250 employees <€50m turnover) • Based in North East LEP (County Durham, Northumberland and Tyne and Wear) • Not within the excluded or restricted sectors • A valid business bank account
Generator applies innovative business strategies to aid sector growth by outlining a pathway that can take you and your business from Garage to Global.
Success combines a clear strategy enabled by a great team, pursuing a responsive, relevant market with access to effective resources
• A credible and winning strategy to support the business direction • Capability to confidently pitch your business to investors, engage effectively with potential clients, staff, and stakeholders • Through expert business advice over two months to prepare the proposition for growth and potential investment
• Purpose : What is the motivation behind the idea? • Innovation : What needs to be created, developed or restructured? • Adoption : What are the market’s alternative choices? • Timeline : What are the key phases of execution? • Process : Defining a visual business model of the planned operation • People : Determine the human involvement and challenges that may be faced • Commercial : Derive the financial model for execution and scaling the business • Measurement : Consider how success will be tracked and measured • Presenting : Develop the story to be told to share the ambition with stakeholders
• Proposition presentation and video • Commercial forecast • Business Blueprint TM visual route-to- market plan • Content from all sessions and progress held online • Support through relevant coaching • Preparation for OKR development
• Become a member of a cohort of non- competitive businesses • Receive coaching, resources and support from industry experts • Receive support and encouragement …your results are down to your own commitment
Auxin helps business leaders define and achieve their goals, and work together to turn ambitious strategies into reality through OKR
Early Stage Tech Investment firm based in • Newcastle Investing in early stage businesses in the region • since 2004 Team of 7 Investors from very different • backgrounds with extensive networks Excellent track record in helping businesses raise • investment from outside sources Currently Investing £27m North East Investment • Fund. Ability to invest from £10k-750k in first round • Primarily equity investors though also use • instruments such as convertible loans
Northstar will provide £10k to each • company by way of a convertible loan The loan does not carry interest or require • security (i.e. no PGs) If you raise investment the loan plus a 20% • redemption premium will convert into shares on the same terms as new investors If after 18 months there is no investment • and the company is trading, the loan and redemption premium will become repayable (i.e.£12k) in equal monthly instalments of £667 over 18 months Potential opportunity for further • investment through NorthStar
• 12 September: DEADLINE FOR APPLICATIONS https://generator.org.uk/services/the- north-east-innovation-fund/apply/ • 13-14 September: Shortlisting • 18-19 September: One-to-one interviews • 1 October: Delivery of business support starts
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