A new £4.1m business accelerator supporting early-stage tech ventures opens in Baltic Triangle in Liverpool. Tony McDonough reports
A business accelerator aimed at early stage tech firms has launched in Liverpool’s Baltic Triangle.
Backed with £4.1m from Liverpool City Region Combined Authority, Baltic Ventures will offer participating companies with £50,000 in equity funding as well as a four-month tailored support programme.
It occupies a ground floor studio space in Baltic Creative’s Digital House. Partners in Baltic Ventures are Baltic Creative CIC, Mark Rathbone of Liverpool law firm Brabners and Form and LivingLens co-founders, Carl Wong and David Woods.
The aim of the not-for-profit initiative is to create a platform to support northern tech businesses to access angel and VC investment without needing to head to London.
New data, released by Tech Climbers in Liverpool city region, reveals 75% of businesses are looking for funding to grow this year, with almost three-quarters on the hunt for seed or series A capital.
Baltic Ventures will have a particular focus on working with under-represented and diverse founder teams. Claire Lewis, chief executive of Baltic Ventures, said: “We’re delighted with our new home.
“From our hyper-local, creative district base in the Baltic Triangle, we plan to harness the Liverpool city region’s superpower energy and liveable city status as a vital and invigorating launchpad for our founders.”
Baltic Creative was set up specifically to support the growth of creative and digital industries in the region. Baltic Ventures has been developed to build on the success of the growing cluster.
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Since its inception in 2009, Baltic Creative has helped to grow the Baltic Triangle into a prime location as a digital hotspot.
It will also work with existing tenants and Baltic Ventures to help signpost specialist support and opportunities within the businesses that occupy the region while also encouraging more to come and invest within the area.
The Baltic Ventures Accelerator 2023 opens for applications in April.
Lynn Haime, chief executive of Baltic Creative, added: “ It’s great to see this work come to fruition and that we’re able to accommodate them in our community.
“It’s our hope that their future tech cohorts will make beneficial connections with other like-minded, digital and tech organisations.”