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Press releases — 26 April 2004

Oxford Business Angel Network Announces Record Results

Oxfordshire Investment Opportunity Network (OION) has celebrated a record year of raising crucial development finance for innovative companies. Over 150 guests at the Network's Annual Dinner heard Chairman, Colin Alexander, announce results showing that OION helped 18 companies raise £5 million in the year to March 2004, an increase of £2m on 2003. The superb results cement OION's position as Europe's most successful technology business angel network, which links investors with entrepreneurs seeking funds from £50,000 to £2m. During the last four years, OION has helped 61 companies raise £14.8m.

Mr Alexander said:

“OION was one of the first technology business angel networks to be set up in the UK and is now the European leader. We broker deals for early stage technology companies across the UK, helping them raise finance to develop their businesses to the stage where they can attract the attention of venture capitalists. Our investors are a mix of highly active business angels and corporate investors who often provide valuable management expertise and contacts, as well as capital. The past year has seen OION broker several substantial VC deals, in addition to our main role of securing investments from business angels.”

OION is one of the services for innovative start-ups provided by Oxford Innovation, the UK's leading operator of innovation centres, which manages 11 centres housing over 250 knowledge-based companies.

Dr David Kingham, Chief Executive of Oxford Innovation, said:

“We are delighted with OION's performance over the last year. The OION model has proved so successful that we have used it to start up two other networks, Thames Valley Investment Network and Solent Investment Opportunity Network, which have now been running for just one year but are already making their mark in the Reading and Hampshire areas.

“I would like to congratulate OION's manager, Alastair Cavanagh, and thank our existing sponsors for their support. I am also pleased to announce the addition of NESTA as new sponsors for the coming year.”

Guests at the Annual Dinner, including business angels, serial entrepreneurs and venture capitalists, also enjoyed hearing Guest Speaker, Dr Andrew Rickman OBE, Founder and Chairman of Bookham Technology plc, describe the challenges of growing and financing Bookham from an innovative technology start-up into a multi-million dollar public company employing 750 people worldwide, with offices in the UK, US, France, Italy, Japan and China.

Press Release Ends

NOTES FOR EDITORS

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

  1. ABOUT OXFORDSHIRE INVESTMENT OPPORTUNITY 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 150 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.

  2. THE THAMES VALLEY INVESTMENT NETWORK (TVIN)

    Press enquiries to: Dr Dinali de Silva, Manager.
    Tel: +44 (0)1344 753365 Email: dinali@tvin.co.uk
    Website: www.tvin.co.uk

  3. SOLENT INVESTMENT OPPORTUNITY NETWORK (SION)

    Press enquiries to: Arthur Monks, Manager.
    Tel: +44 (0)23 9265 8208 Email: SION@solenthub.co.uk
    Website: www.solenthub.co.uk