Nick Sturge, SETsquared Centre Director, said: “Now, more than ever, investors and government must continue to invest in early-stage knowledge based businesses and effective support environments like SETsquared that make this growth happen – the excitement around this event proves that.”
Five selected companies entered a 90-second ‘elevator pitch’ competition to promote their businesses. The winners were chosen by the audience, comprising members of event sponsors the South West Angel and Investor Network (SWAIN) and Veale Wasbrough Vizards, as well as representatives of the grant-funding and venture capital communities from London and the South West.
Cranberry UK Limited secured the top prize of £250 and the Veale Wasbrough Vizards Elevator Pitch trophy. Cranberry are pioneering a complete on and offsite backup and disaster recovery solution that leverages the use of Cloud Computing; internet-based computing whereby shared resources, software, and information are provided to computers and other devices on demand.
A further 15 ventures that are supported by the SETsquared Centres of Bath and Bristol showcased their work, including Doc Com Solutions, which already has eight NHS customers for its innovative communication system in the £6bn healthcare market, and Imetrum, which expects its highly accurate optical technique for measuring strain in materials and structures will hit sales of £5m pa within the next two to three years.
Dr. Neil Bradshaw, a director of the SETsquared Partnership, said: “If Vince Cable wants to re-balance the economy we must make sure that private sector growth is nurtured around the world-class knowledge bases of the Universities like Bath and Bristol.”