HALO HITS THE HUNDRED

2 December 2009

Since being re-formed after a period of inactivity, ‘new halo’, the NI Business Angel Network has just reached its goal of having 100 angels in the group. The network had been dormant after previous funding had run out and was then picked up the NI Science Park and restarted. Alan Watts, the new Director of Halo and himself a former entrepreneur and business angel, took control in January this year and updated how the network operates. Funding was then obtained from both Invest NI and Intertrade Ireland.

On top of this, halo took part in the BBAA Angel Awareness Campaign and achieved a very high level of PR coverage including 4 different pieces on radio and significant articles in all the major local papers and business magazines.

Taken together, the result is 101 angels in halo where there were 35 at the start of the year.

These numbers have reflected in the number of investments made with over £0.5m invested so far in 2009 across 7 companies. Halo is planning to double this investment in 2010 and has a good flow of potential deals coming through from the strong local infrastructure and 2 local universities. Halo also works closely with NISP Connect which is the part of the NI Science Park which facilitates the experienced entrepreneurs in the Province to assist and mentor the most promising technical start-ups. This further adds to the pipeline of high quality companies coming to halo.

halo is the Northern Ireland Business Angel Network. For more information please visit www.nisp.co.uk/Entrepreneur-Halo.aspx