Regional business support organisation Innovation SuperNetwork has been acquired by North East contemporary UMi Holdings.
The not-for-profit, which specialises in connecting innovating firms with support and finance, has become part of the Durham-based business support firm but will continue to operate as a standalone organisation. The move coincides with CEO Estelle Banks stepping down and UMi's CEO Nicki Clark taking the helm.
Since its creation eight years ago, Innovation SuperNetwork has helped more than 1,700 business - billing itself as an "anchor point for the region's innovation ecosystem", and helping firms access finance and support in order to innovate. It runs the recently re-launched Northern Investor Hub, an investor network of more than 200 angels and funds which has leveraged more than £40m of investment for businesses since 2019. It is also the organiser of the VentureFest series of conferences, which saw its 10th edition last year.
