NW Fund makes first investments as companies seek to engage freelancers

The NW Fund’s fund for Biomedical have announced their first investee companies.

The Biomedical Fund managed by Spark Impact has announced TopCat Research as their first investee company. The £25m Northwest Fund for Biomedical is part of the £185m evergreen fund provided by the European Investment Bank (EIB) and European Regional Development Fund (ERDF), to supply equity funding to small and medium sized enterprises in the North West of England

This follows recent success by AXM who run the North West’s Fund 4 Digital & Creative in making their first investments into Chester based online learning specialists, Autology.

Tony Cope, Managing Director of TopCat research, announced the news along with Paul Treloar, Business Development Manager at Daresbury (right) as TopCat has become the latest company to move into Daresbury’s Innovations Technology Access Centre.

TopCat Research is a dynamic new company making waves in food pathogen and biomarker testing for drug discovery. It is currently developing a pregnancy testing kit for endangered animals with resultant spin off products.

The North West Investment Fund granted the firm £50,000 as the first part of the move. TopCat will have access to more than £3m of cutting edge equipment, including Europe’s first Hitachi TM3000 electron microscope plus access to follow on funding.

TopCat has hired Marketing PRojects to conduct a survey of worldwide marketing & sales potential and hired Media Modo’s Freelance Fair Teams to deliver market proof, product launch and fast track profits for the new company.

Neil Lewis of Media Modo’s Freelance Fair Teams added,

“We are delighted to be given the opportunity to demonstrate the huge impact that our freelance teams can deliver within tight budgets. Our objective will be to take the initial research and turn that into real market sales or commitments to buy as swiftly and efficiently as possible.

“By demonstrating the market value of the concept, TopCat will be able to deliver a real world assessment of the long term profitability of its initial products and business potential. This knowledge will be the key to unlocking future funding as well as building the sales pipeline and future profitability.”

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Written by Editor on July 8, 2011 and filed in Entrepreneurs, Featured, Freelance Jobs, Freelancers, News , , ,

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