A cohort of bright young technology businesses mentored by Google, Amazon and Paypal will be meeting potential investors at a special demo day at Birmingham Science Park Aston this month.
The start-ups have just completed Oxygen Accelerator, a programme of mentoring based on similar successful schemes from Silicon Valley, and will seek investment at the event on November 30.
Over the last 12 weeks each company has received one-to-one mentoring from 60 professionals to help them refine their ideas and business to make their firms “investor ready”.
Mark Hales, founder of Oxygen Accelerator, said the scheme was part of plans to encourage a cluster of innovative firms in the region.
He said: “The aim of accelerator programmes like ours is to take a great entrepreneurial idea and put the business structure around it so that a venture capitalist can invest. It ensures the core fundamentals are taken care of, such as securing all intellectual property, as well as preparing financial essentials such as P&L and cash flow forecasts.
“Technology entrepreneurs can work wherever they want in the world, and will usually gravitate towards wherever talent is available and there is money on offer. By looking for investors from the UK to support these businesses, we hope they will stay here and flourish – creating jobs and wealth as part of the high tech ‘knowledge economy’ both the government and Birmingham City Council see as a key part of economic recovery for the region and country more generally.”
Applications for the first round of Oxygen Accelerator saw interest from 22 countries from around the world, with nine teams being selected including teams from Estonia, Romania and India as well as the UK. The companies are diverse, covering everything from mobile gaming and video advertising through to solutions for e-commerce, logistics and big data.
To attend the demo day in Birmingham visit http://oxygen-birmingham.eventbrite.com.