The West Midlands has to up its game when it comes to angel investment in order to support more start-up and scale-up businesses and grow the regional economy.
That was one of the key messages to emerge from the first West Midlands Angel Symposium, a joint initiative between Aston University’s Centre for Growth team and Minerva Business Angels, part of the University of Warwick Science Park.
Professor Aleks Subic, Aston University’s Vice-Chancellor and Chief Executive, opened the event, held at Aston University’s John Cadbury House.
He said: “We have some incredible talent in this region, and it is about matching that with people who have experience in business who want to invest and support their innovative endeavours.
“The need has never been greater for more angel investors to step forward, and it is up to all of us to work even harder and collaborate further to make that happen to help our businesses and economy grow.”
Richard Parker, the Labour mayoral candidate in the May 2024 elections for the West Midlands, also attended as a Keynote speaker advocating for the importance of angel investors and their contribution to helping to grow our local talent. He also shared his ambition to grow the West Midlands economy with the audience.
The event included speakers and panellists from the British Business Bank, Midlands Mindforge, and the UK Business Angels Association (UKBAA), with the overall aim of encouraging more angel investors to come forward.
On top of that, the audience was given an insight into a shortage of female investors coupled with a low percentage of women-led businesses receiving investment.
The symposium also heard from Professor Mark Hart on the challenges SMEs face, while Phil Mitchell of Harbour Key discussed the tax advantages of angel investing.
Manjit Jhooty of Jhoots Pharmacy; Lisa Smith of Midlands Mindforge; and Sam Tubb, an angel investor, explored the reasons for investing during a panel session with ‘giving back’ as one of the most common objectives.
Sam then joined Tracy Sherratt of the British Business Bank; Jenny Tooth, OBE of the UKBAA; Samantha Niblett of Labour: Women in Tech; and Mandeep Soor of Bendi on a panel to discuss how to encourage more female investors to come forward and also get more funds into women-led businesses.
Kameese Davis, who secured investment through the West Midlands Mayoral fund delivered by Midven for her hair care products business Nylah and has since picked up funds through Minerva and other sources, said her company would not be where it is today without that kind of support. Kameese is also an ambassador and supporter of the Minerva Birmingham Pitch Up competition which she won at Venturefest in March 2023.
For more information on becoming an angel investor, go to https://minerva.uk.net/
