SETsquared partners with SWAIN to kick-start the economy

Partnership will see the strengthening of two leading organisations and accelerated investment in the region's most exciting business opportunities.

Early-stage companies have struggled to raise investment during the recession and high-tech companies have suffered particularly badly. By combining the reputation and expertise of the expanding network of SETsquared Business Acceleration Centres and the expertise and existing network of angel investors in SWAIN, the new partnership expects to see a doubling of angel investing activity in the Bath & Bristol area, over the next year. SWAIN will deliver new hi-tech focussed investment forums, as a joint activity with SETsquared.

The collaboration was announced at the renowned annual SETsquared Garden Party and Investment Showcase this evening, where 16 early-stage, high-tech, high-growth companies were showcased to over 40 investors, representatives of 10 large corporates, including Logica, Microsoft, IBM, HP, Freescale, ST Microelectronics and NXP.

SETsquared also announced that SWAIN would be opening an office within the Bristol SETsquared Centre, enabling earlier and closer interaction between early stage companies and investment expertise. SWAIN will be SETsquared's local 'Funder-in-Residence'.

Nick Sturge, Director of the Bristol SETsquared Centre, commented "This more formal partnership is the natural progression after so many years of working together. When SWAIN launched 6 years ago its first 3 investments were SETsquared companies. We have done well with venture capital investment recently but there are many companies for whom angel investment is more appropriate and we are excited about accelerating this."

Philip Tellwright, Managing Director of SWAIN, added: "SWAIN have enjoyed a long standing working relationship with SETsquared and now is the time to formalise our association. Sharing offices with young dynamic businesses will enable SWAIN to get closer to our target market and running technology specific events will have significant appeal to investors known to both SWAIN and SETsquared."