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Press releases — 16th August 2004

New Manager for Europe’s leading technology Business Angel Network

Oxfordshire Investment Opportunity Network (OION), Europe’s leading technology business angel network, today announced the appointment of Jon Cox as its new Manager. Dr Cox takes over from Alastair Cavanagh who led the OION Network to its position as the pre-eminent investment forum for high growth potential technology companies, raising £14.8m for 61 companies during the last four years. Mr Cavanagh has been promoted to Business Angel Networks Co-ordinator, a new position where he will oversee the three angel networks run by Oxford Innovation (the parent company of OION), and launch new funding initiatives for early stage businesses.

Dr Cox, an Oxford University graduate, joins OION from Fast Track where he managed a team of researchers to produce the annual Fast Track 100 league table.

Dr Cox said:

“I am delighted to be joining the OION Network, which plays a key role in helping entrepreneurs raise the capital they need to develop their businesses. I look forward to building on OION’s successful record, which saw it raise £5m last year for 18 companies based in locations across the UK. While business angel interest in young technology companies remains strong, we are seeing more institutional deals being done as VCTs and EIS funds become more popular. OION is on target to match its excellent results from last year and continues to grow its investor base.”

Mr Cavanagh commented on his new role:

“I will be using my experience to set up Oxford Early Investments - a new investment network for very early stage companies, to be launched later in 2004. It has become increasingly difficult for companies at the ‘proof of concept’ stage to secure the crucial funding required to develop to the stage where they can attract further substantial investment. However, there is significant investor demand for access to quality, early stage investment opportunities. Our early investment network should fill a gap in the market for both investors and entrepreneurs.”

The OION Network is managed by Oxford Innovation, the UK’s leading operator of innovation centres for start-up companies.

Dr David Kingham, Chief Executive of Oxford Innovation, welcomed Dr Cox:

“Jon Cox joins us at an exciting time for our business angel networks, which are all closing deals at a rapid rate. Business angel networks play a key role in enabling the UK’s innovative companies to access funding so they can develop into successful enterprises. Some will become global players with major economic impact. We are well-placed to extend the proven model for our thriving investment networks to other regions.”

Press Release Ends

NOTES FOR EDITORS

PHOTO AVAILABLE ON REQUEST

Jon Cox, the new Manager of Oxfordshire Investment Opportunity Network, Europe’s leading technology business angel network.

Press enquiries to: Margaret Henry, OION PR Manager.
Tel: +44 (0)1865 811199  E-mail: Margaret Henry

  1. Oxford Investment Opportunities Network (OION) www.oion.co.uk

    Oxfordshire Investment Opportunity Network is Europe’s most successful technology business angel network that links investors with entrepreneurs seeking business development funds from £150,000 to £2m. OION holds monthly meetings where selected companies can pitch their proposals to OION's members, which include over 120 active business angels, VCTs and venture capitalists.

    Many of these companies are university spin-outs and OION is uniquely positioned to help them. OION holds regular joint presentation meetings, and has strong links with, universities with a reputation for spinning out quality technology companies such as, Warwick, Oxford, Bristol, University College London and Imperial College London.

    OION is managed by Oxford Innovation Ltd (www.oxin.co.uk), the UK’s leading operator of innovation centre premises for start-up companies, and sponsored by HSBC, Grant Thornton, Laytons, Frank B Dehn & Co, NESTA and Business Link.