Companies battle it out for £1m investment from business angels

The companies will deliver presentations to potential investors at the Investing in Innovation event, held at UMIC, University of Manchester, on Thursday from 6pm.

The event is being held by Envestors, the business angels network.

The three businesses pitching for the investment of over £1m include Forte Medical, a London-based medical devices company which hopes to secure £500,000; Corcost, of Selby in North Yorkshire, which has developed a product to make hospital beds more mobile, and wants £200,000; and i-Putt, based in Hale, Cheshire, a business which has designed a product to help golfers improve their putting technique, which will pitch for £400,000.

Each company will give an eight-minute presentation to potential investors before fielding questions from those thinking about putting money in.

Tom Wilkins, managing director of Manchester-based Envestors, said: “Our Investing in Innovation events have proved very successful for all concerned and we are pleased to be hosting another one.

“The key is the high quality of the businesses seeking investment, as well as the calibre of those watching the pitch and deciding whether to invest.

“It shows there are great opportunities out there for the business angel community.”

In the last three years, private investor network Envestors, which is regulated by the FSA, has helped more than 60 companies to raise more than £22m.