Cornish businesses looking to grow have a new source of private investment with the formal launch this week of the Cornwall Angel Network.
The new 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.
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 £5k to £500k, 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 CBE, was the keynote speaker at the launch of the new network. He 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.”
The launch of the network has been welcomed by Cornwall Chamber. Chair Laura Whyte, who is MD at Truro-based accountant Whyfield, said: “The launch of the Cornwall Angel Network is a fantastic development for our business community. By connecting start-ups and early-stage businesses with knowledgeable investors, we’re creating new opportunities for growth and innovation in Cornwall.
“This network has the potential to not only bring much-needed funding to local businesses but also expertise and mentorship that can make a real difference. We’re excited to see how it will help shape the future of entrepreneurship in our region.”
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, Dragons’ Den style.
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.
