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19th October 2018

Yorkshire’s tech prowess praised following investment milestone

 

The founder of one of the UK’s fastest-growing IT firms, Azzure IT, has talked up Yorkshire’s tech prowess, after a regional investment funding collaboration reached a major milestone.

Craig Such, the firm’s managing director, says the work of the Northern Powerhouse Investment Fund (NPIF) has helped increase the awareness of Yorkshire as a thriving tech city – after the collaboration reached a £100m funding milestone.

“The recent news when it comes to the digital and tech industry in the Yorkshire region is hugely promising,” said Craig. Azzure IT’s head office is in Sheffield, which was recently revealed to be in the top three cities in the world for starting a tech firm by software company Sellics.

Craig added: “Recognition is crucial for all businesses, particularly for firms in the north which are looking to continue their growth, and this profile-raising news is a big boost.”

Azzure IT, which also has offices in Reading and Newcastle, received a £2m investment grant from the NPIF in 2017 – the largest single investment made by the fund since its inception.

Manufacturing and high-tech companies have attracted a total of £26m of investment, with the NPIF funding more than 300 projects across the 10 Local Enterprise Partnership (LEP) areas that it operates in.

The NPIF’s investment in Azzure IT was also recently shortlisted in the Deal of the Year (below £5m) category at Yorkshire Business Insider’s Yorkshire Dealermakers Awards.

Craig added: “The NPIF have been great to work with – right from initial enquiry to due diligence of securing the funding, they’ve been really helpful and listened to what we need to achieve as a business.

“They’ve also provided plenty of ideas on how they can help with funding in ways we might want to consider when looking to grow the business.

“This strategic investment means a lot to us as a business. It will enable us to continue our rapid growth rate and strengthen our working partner relationships, and also serves as recognition from a government body for all the fantastic work our staff do every day.”

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