For the past decade the North East has been working hard to
provide its residents with the kind of technological and business
opportunities that are traditionally associated with the South. It
has been gaining ground, but the region could be set to take off
with an injection of European investment funding.
It is worth ignoring the lazy
stereotypes painting England's northern regions as lacking in
vibrancy. There are plenty of opportunities, and the business
community and regional authorities are working hard to improve the
North East and tackle its challenges. There are high hopes that the
Jeremie (Joint European Resources for Micro to Medium Enterprises)
funds, which are due in January, will provide the leg-up it needs
to take it to the next league. Up to £125m could be invested in the
region.
Caroline Theobald works for Connect North East, which links
start-up technology companies with potential investors. She
says the region has a job to do to show the investment community
that there is plenty going on, but is hopeful now is the right
time.
"The difference between 1990 and today is phenomenal in terms of
physical infrastructure, energy, appetite and the beginnings of an
eco-system. Things are beginning to come into place. The region is
ready for these funds - sometimes you can have money but not be
ready to use it properly."
Community
The advantages of the North East include the sense of community
in the business and technology sectors, and the support they
receive from one another. Professional networks and government
bodies are reportedly generous with advice and help, there are five
good universities in the area, and a strong industrial heritage
with all the skills and innovation that come with it.
The area's biggest challenge, Theobald says, is the perception
that London is the only place to be: it may not be true, but
convincing investors and potential entrepreneurs of that is proving
a long-term job.
North East technology entrepreneurs have also run up against a
few challenges, but it is worth remembering that nowhere is
perfect.
Jocelyn Upendran runs Lovle, which provides companies with
software enabling them to create e-learning platforms using
creative commons content. She says the North East is a better place
to do business than most other parts of the UK, but said at the
recent
North East Girl Geek Dinner event, "The negative side of having
a close community is that if you don't agree with something, there
are only a few key players in the region in terms of investment. If
you are not aligned with them there are not many alternatives. It
can be insular and small."
Further investment
The hope is that the Jeremie funds will provide a boost to some
of the region's most promising businesses, highlighting the
region's potential and talent, and attracting further
investment.
Joanna Berry is chief operating officer at
Inkspot Science, which
provides an online collaboration hub, data storage and analysis
tools and cloud-based on-demand resources for researchers and
scientists. She is optimistic that some of the area's best small
businesses will get the opportunity to receive the investment that
will enable them to grow quickly - an opportunity that they might
not have otherwise had.
"We have so many people here with great ideas and innovation,
but to monetise their ideas they often have to go elsewhere. We are
hoping that the Jeremie funding will mean people are not just able
to start a business here, but stay here and grow it. That will not
only bring further investment to the area, but more jobs and a
thriving economy."