Black technology entrepreneurs gain funding edge

11/10/2006

London entrepreneurs from the black and ethnic community will be encouraged to develop their business ideas and seek funding at an event later this month.

There are more than 10,000 black-owned businesses in the capital employing 70,000 people and producing an annual turnover of £34.5bn.

However, black people are under-represented in business as they represent just four percent of companies despite making up 12% of the population.

The event hosted by G2i, a consortium that helps early-stage technology companies in London gain investment, will be held at the Marketing Suite on October 26.

Dragon’s Den contestant Charles Ejogo, founder of Umbrolly, will give the keynote address at the event.

“This is precisely the sort of forum needed to deliver information and networks to business entrepreneurs who place technology at the heart of their competitive edge,” said Ejogo.

Since its launch a year ago, G2i has worked with more than 200 early stage technology businesses and helped to secure more than £5m of funding.

The consortium is led by Grant Thornton and comprises E-Synergy, Library House, The Innovatory and Quo-Tec.

Simon Littlewood, of Grant Thornton, said: “We are delighted to be part of the success in leading the London investment readiness programme for new technology companies.

“With successful participants representing the rich diversity of talent and innovators across the capital, we are committed to supporting innovation and technology companies at every stage of their development.”