Cornish businesses looking to grow have a new source of private investment with the formal launch this week of the Cornwall Angel Network.
The initiative will be powered by business angel investors, anchored at Falmouth University and supported by stakeholders the British British Bank and Cornwall Chamber of Commerce. With all aiming to create a more diverse investment community by connecting local angel investors to start-up and early-stage businesses in Cornwall.
More than 100 guests attended the launch event at the Lost Gardens of Heligan, where it was confirmed that Falmouth University will become the home of the new Cornwall Angel Network, hosting it at the university’s venture studio and business incubator, Launchpad Futures.
The event was part of Business Finance Week, hosted by the British Business Bank, which is the UK’s economic development bank.
An angel investor is someone who invests their own money, typically from £5,000 to £500,000, in a small business in exchange for a minority stake, or equity. They tend to be entrepreneurs or people with extensive experience in the business world, so as well as money can bring a wealth of knowledge to a young business.
Angel investors are the largest source of investment in start-ups and early-stage businesses looking to grow in the UK. The aim of the Cornwall Angel Network is to stimulate and support higher levels of equity investment in the county to help business grow, innovate and create jobs.
British Business Bank chair Stephen Welton said: “The Cornwall Angel Network represents a significant opportunity to strengthen the entrepreneurial ecosystem in Cornwall by connecting innovative businesses with experienced investors. Angel investors don’t just provide capital; they bring invaluable expertise, mentoring and industry connections, which are crucial for helping young businesses scale and thrive. And we’re delighted that Falmouth University, which has spawned a number of successful start-ups, will become the home of the network.
“We also hope to see more women angel investors getting involved as part of the drive to address the lack of investment in female entrepreneurs. We know that angel groups with more than 15% women investors made 57% of their investments in teams with women founders last year, so it’s vital that we continue to increase the number of female angel investors in Cornwall and the UK.”
He added that the British Business Bank’s £200m South West Investment Fund, which was launched last year, can co-invest alongside business angels, creating further investment opportunities in the region.
Professor Emma Hunt, vice-chancellor and chief executive, Falmouth University, said: “A creative, entrepreneurial university and anchor institution for Cornwall, with 10 years’ experience of incubating businesses, Falmouth University is the natural home for the new Cornwall Angel Network.
“We’re delighted to support this exciting initiative that will be an asset for Cornwall, helping to drive the growth of small and medium sized businesses in the county through better access to angel investment. A collaborative approach means that with strong stakeholder engagement, we can reach more companies that will benefit not only from new investment opportunities, but networking and support.
“We envisage the Cornwall Angel Network being an inclusive place, where local businesses are supported to thrive. We’re particularly keen to foster more women founders and investors, who are currently underrepresented in Cornwall.”
The launch event was attended by angel investors and potential investors from across the region and featured a competitive pitch session with four Cornish companies – Akumen, Good With, Amutri and Output Industries – all pitching to a panel of judges.
The ‘winning’ pitch from Amutri earned a bottle of champagne and the hope is that by showcasing some of Cornwall’s most exciting start-up and scale-up businesses to a room of angels, real investments could follow.
