Five tech startups based at Sheffield Technology Parks are doubling down on research, innovation and business expansion after securing a total of over £1.2 million in investment throughout summer 2023.
The startups, which range from an app that enables safe, shared and sustainable travel, to a healthtech company creating pioneering programmes to reverse chronic diseases, have received financial backing from a range of sources including venture capitalists, private Angel Investors and grant funding.
Part of the Cooper Project, Sheffield Technology Park’s business incubator, the startups are given workspace, business guidance and coaching to help them develop their ideas, establish business strategies and seek investment to support their growth.
The secured funds will be invested in a range of activities, including job creation, investments in equipment and premises and partnering with other organisations to conduct crucial research to underpin tech products and services.
A Fleet for Change, a startup dedicated to improving safe and sustainable shared transport, has been awarded £80,000 grant funding from Innovate UK and is now able to conduct research that will inform their app development and service design, and enable them to deliver a pilot project.
“As we start to see these companies grow and scale, there will be more jobs created in the city, more opportunities for collaboration and reasons for people to come here and invest in our economy. It’s great news all round for Sheffield and South Yorkshire.”
Another startup to receive investment this summer was Future Greens, a vertical farming company who are researching and developing sustainable farming methods that use food waste as the primary energy source, and looking for new Sheffield-based premises to build a vertical farm.
Hero of Health, a health tech startup offering software as a service (SAAS) to NHS trusts, also secured £250,000 from a number of private Sheffield-based Angel Investors throughout the summer.
A further two start-ups secured totals of £300,000 and £385,000, proving that whilst the summer period is typically quieter for UK businesses, those at Sheffield Technology Parks have been extremely busy.
Tom Wolfenden, CEO of Sheffield Technology Parks, said: “The investments we’ve seen over the summer months are testament to that hard work and to the commitment these individuals have for their work, not to mention exceptional levels of skill and expertise.
“As we start to see these companies grow and scale, there will be more jobs created in the city, more opportunities for collaboration and reasons for people to come here and invest in our economy. It’s great news all round for Sheffield and South Yorkshire.”
Sheffield Technology Parks is an inclusive home for ambitious tech entrepreneurs, supporting businesses through the startup and scaleup stages, and beyond offering office, workshop and lab spaces for the city’s most innovative businesses. For more information, visit shefftechparks.com.