1. overview

2. Supported by the North East Fund, European Investment Bank, and the European Regional Development Fund
Delivered by Generator & Auxin Services, funded by NorthStar Ventures
Innovative idea, product or service
£10,000 funding package:
£6,000 to build the initial proposition or prototype
£4,000 to fund the business support and deliver the outcomes
Open to any sector

3. eligibility

4. Limited registered SME (SME definition: <250 employees <€50m turnover)
Based in North East LEP (County Durham, Northumberland and Tyne and Wear)
Not within the excluded or restricted sectors
A valid business bank account
VAT registered

5. About generator

6. Generator applies innovative business strategies to aid sector growth by outlining a pathway that can take you and your business from Garage to Global. 

8. Overview of Delivery

9. Planning for growth
Success combines a clear strategy enabled by a great team, pursuing a responsive, relevant market with access to effective resources

10. Together we will help you build
A credible and winning strategy to support the business direction
Capability to confidently pitch your business to investors, engage effectively with potential clients, staff, and stakeholders
Through expert business advice over two months to prepare the proposition for growth and potential investment

11. We will cover Purpose: What is the motivation behind the idea?
Innovation: What needs to be created, developed or restructured?
Adoption: What are the market’s alternative choices?
Timeline: What are the key phases of execution?
Process: Defining a visual business model of the planned operation
People: Determine the human involvement and challenges that may be faced
Commercial: Derive the financial model for execution and scaling the business
Measurement: Consider how success will be tracked and measured
Presenting: Develop the story to be told to share the ambition with stakeholders

12. Resulting in Proposition presentation and video Commercial forecast
Business Blueprint TM visual route-to-market plan
Content from all sessions and progress held online
Support through relevant coaching
Preparation for OKR development

13. The approach Become a member of a cohort of non-competitive businesses
Receive coaching, resources and support from industry experts
Receive support and encouragement
1 full day a week for 8 weeks… your results are down to your own commitment. You must be able to attend all sessions.

14. We build business value
Auxin helps business leaders define and achieve their goals, and work together to turn ambitious strategies into reality through OKR

18. Northstar ventures

19. ABOUT US Early Stage Tech Investment firm based in Newcastle
Investing in early stage businesses in the region since 2004
Team of 7 Investors from very different backgrounds with extensive networks
Excellent track record in helping businesses raise investment from outside sources
Currently Investing £27m North East Investment Fund.
Ability to invest from £10k-750k in first round
Primarily equity investors though also use instruments such as convertible loans

20. THE FUNDING PACKAGE
Northstar will provide £10k to each company by way of a convertible loan
The loan does not carry interest or require security (i.e. no PGs)
If you raise investment the loan plus a 20% redemption premium will convert into shares on the same terms as new investors
If after 18 months there is no investment and the company is trading, the loan and redemption premium will become repayable (i.e.£12k) in equal monthly instalments of £667 over 18 months
Potential opportunity for further investment through NorthStar

21. Apply now
north-east-innovation-fund/apply/