Major Derry~Londonderry construction project to create 750 jobs

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Major Derry~Londonderry construction project to create 750 jobs: A major construction project in Londonderry will see the creation of around 750 direct and indirect jobs over the next three years. Braidwater is the company behind the £60m investment, which will go toward building over 400 houses. Those houses will be built in the Birch Hill Belt Road and Skeoge areas of the city. They are set for completion in 2020. It forms part of a wider £300m investment plan in the north-west by Braidwater.

Joe McGinnis, Managing Director of Braidwater, said: “We plan to offer homes of distinction, designed to enhance lifestyles by creating places of respite and community. We are planning communities while responding to existing neighbourhoods and connecting these through crafted open spaces. “For every £1 spent in construction £2.84 will be generated in the local economy. This will support a strong local supply chain maintained and grown since the recession, alongside the trickle-down economic effect for services, suppliers etc generated through local spending when new homes are occupied.

“These projects and additional long term projects will deliver significant benefits to the local economy including developer led contributions to roads improvements, public transport, play parks, neighbourhood centres, landscape maintenance in conjunction with the Council, commercial and retail areas and schools.

“This will give the ability for the district to maintain a competitive and affordable housing market in the long term, providing communities and economic activity that will leave a lasting legacy.”

Laura Fox, the Head of Planning with Derry City and Strabane District Council says her team have been working in close partnership with a number of developers from both the social and private housing sectors, including Braidwater, on a wide range of development projects across the City and District.

“Collaborative working between the planning team and the developers is essential to successfully delivering sustainable communities throughout the Council area.

“Since the transfer of Planning powers from Central Government to the local Council two years ago, the Council has overseen the approval of approximately 3000 units, while in the past year alone, we have successfully delivered on 367 social housing units, the highest number in any Council in Northern Ireland.”

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Derry ~ Strabane Graduate’s fashion label goes from strength to strength

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Haus Of MowHawk

Lynsey McGarrigle from Haus Of MowHawk

For as long as Lynsey McGarrigle can remember she wanted to be a fashion designer. The 26 year-old North West Regional College graduate has hit the industry like a whirlwind since the launch of her Haus Of MoHawk label last year, showcasing twice at London Fashion Week and designing bespoke pieces for a host of well-known celebrities.

But it’s been far from an overnight success story.

“From a very young age I was interested in design,” she recalls. “My mother’s favourite story is about a time when our living room curtains were sacrificed to make Barbie’s new Autumn Winter wardrobe.

“My first year art teacher was a major influence too, she had such passion for art that as a student I couldn’t help but immerse myself in all things design.

“Although my label launched just over a year ago, I had been working in fashion since the age of 15 through working in retail, modelling and beauty pageants.

“I developed my own fashion brand after graduating from the North West Regional College in Derry in 2012 where I graduated with distinction in both my foundation degree in Art and Design and a Higher National Diploma in Fashion and Textile Design.”

Lynsey was already standing out by that point having picked up The Adria Award in 2010 for Best Fashion Design and The Desmond and Sons Award Cup for Best Textile Collection 2012.
Her career as a model and beauty queen was gathering pace too and after being crowned Miss Tyrone in 2011 she went on to claim Miss United Nations Ireland and Miss United Nations Europe titles.

She was slowly gathering the necessary experience and knowledge of the fashion industry to take the plunge and launch her own label last year but it was the start-up business expertise and advice she received through Derry City and Strabane District Council’s Go For It programme that allowed her to turn that lifelong dream into a sustainable reality.

“The Go For It Program assisted me greatly in overcoming the business related challenges of start-up,” she admits.

“The main obstacle I had to overcome while formally setting up the business was the business side of the company. I could do the creative, artistic elements and what I was qualified to do being a fashion designer but where things lacked was the integral business element of the business; the business plan, business banking, sourcing funding, learning to keep accounts, registering with HMRC.

“Without their support Haus Of MoHawk would not be where it is today and on a personal note I have learnt a lot through the program and have become much more business savvy.”
Haus Of MoHawk is a ladies occasional wear brand that caters for red carpet events and special occasions and now boasts clients across three continents of the world.
The label was resident in the Four Seasons Hotel in Beijing in conjunction with China Fashion Week and this year received the Best New Business title at the Strabane Chamber of Commerce and Industry Awards.

She couldn’t have asked for a better first 12 months in Business but she believes it is a success she has earned by remaining focused on her dreams in often challenging circumstances.

“Like many others in this industry, the journey hasn’t been an easy path to trudge,” she conceded. “At times it has been an uphill battle of determination, financial difficulties, self doubt and perseverance against all odds because the dream is too much to give up.

“It’s been a journey of education and in the end a leap of faith to just go out there and make things happen for the love of my art. I don’t believe in luck, I believe in creating destiny, that keeping focused on the end goal will be enough of a reckoning force to achieve my aspirations.

“From a very young age I always dreamt of owning and running my own empire. I wanted to be able to do what I love and be in the position to take charge, make decisions and choose the course of my own life’s destiny regardless of the obstacles.

“In the fashion industry you learn to move quickly, whether that be making decisions or physical work; time waits for no one so with everything in life you need to seize the opportunity when it presents itself to you. Essentially time is money.”

With major plans in the coming months, the pace of Haus of MoHawk’s progress shows no signs of letting up but a love of what she is doing coupled with an insatiable work ethic means Lynsey is up for the challenge.

“The business is still a work in progress,” she continued. “The luxury of the fashion industry is that you get out what you put in.

“I am a great believer that you cannot out work someone who refuses to be outworked and Haus Of MoHawk’s client list for 2017 is ever growing.

“I hope to continue developing the brand on a national and international scale whilst holding onto the strong roots within Northern Ireland that established it.

“I have a few exciting projects and shows in the next number of months and along with a few very busy months I hope to explore the possibility of manufacturing later this year.

“So the future is promising and I feel truly blessed to be able to wake each morning and do what I love.”

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Stratified Medicine Revolution in the UK and Ireland Takes Leap Forward as First Students Graduate Landmark Course

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The first cohort of students to study a cutting-edge degree in personalised medicine in the UK and Ireland are set to graduate today from Ulster University in a milestone which promises to deliver a new era of healthcare.

Based at the Clinical Translational Research and Innovation Centre at Altnagelvin Hospital, the Stratified Medicine students have been taught new approaches to managing chronic diseases such as Arthritis, Alzheimer’s Disease, Diabetes, Cardiovascular Disease and Cancer.

The course explores how genes, lifestyle and environment can influence disease. The practice relies on the use of biomarkers, such as genes or proteins, to organise patients into groups of individuals who are at risk of developing a disease, or who are likely to respond better to one therapy over other alternatives.

Dr Catriona Kelly, Course Director at Ulster University said: “We are proud to see the first intake of students graduate from our Stratified Medicine course. It’s a key milestone moment as the next generation of medical experts can now take us a step closer to providing the right treatment, for the right person, at the right time. We believe this is the future of medicine, globally.

“Our course, which is the first of its kind in the UK and Ireland, has focused on the development of new technologies and systems to predict disease, select the best treatment, and reduce side effects for individual patients. We know that this approach to streamlining healthcare provides more accurate clinical decision making.”

Stephen Morgan, who will graduate in Stratified Medicine from Ulster University this week, said: “I knew from a young age that my career path would involve science or medical research in some form and the idea of this particular course really appealed to me. It has provided me with practical skills and valuable insight into personalised care plans. This has been supported by two summer placements with the Almac Group which gave me the opportunity to learn advanced techniques and practices.

“My goal now is to complete a Masters degree in Bioinformatics and Computational Genomics. In the future I would love to return to Ulster University, perhaps to study at a PhD level, to further research priority areas within Stratified Medicine and play a role in the development of this research globally.”

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125 civil service jobs announced for Derry~Londonderry

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A major contract for 125 jobs has been secured by the Department for Communities (DfC) with Department for Work and Pensions (DWP) for Derry~Londonderry.

The £7 million contract will see the people employed locally delivering Universal Credit services to claimants in Britain. The posts will be based at the Lisahally Service Centre in Derry.

A spokesperson for the Department for Communities said: “This is good news for DfC and for Northern Ireland, bringing to 594 the number of new jobs secured by the Department over the past year to deliver DWP services. “This third major contract for DfC is testament to the continued confidence DWP has in our capacity to provide high quality services for customers in Great Britain.” While some of the posts will be filled in the first instance through internal redeployment, it is expected that a “large proportion” of the posts will be filled through external recruitment, the Department said. The contract is for an initial two year period worth just over £3.5 million per annum and is expected to be fully operational by the end of 2017. It follows previous DWP contracts announced in September and December 2016, worth a combined £20 million.

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New hourly train service from Derry ~ Londonderry to Belfast

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New hourly train service from Derry ~ Londonderry to Belfast: A new hourly train service between Londonderry and Belfast has started.

New Hourly Train Service Between Derry and Belfast

New Hourly Train Service Between Derry and Belfast


The first train departed at 06:12 BST on Monday and the last train will arrive just before midnight.
The new timetable was introduced after Translink spent £46.4m on a new passing loop, and signalling infrastructure, on the Coleraine-to-Derry line. The service between the two cities will remain unchanged on a Sunday, with just six trains. “We are pleased to be introducing this new hourly timetable, making it more convenient and attractive for passengers to travel to and from Derry-Londonderry, connecting people and supporting the local economy, attracting visitors and investment,” said Translink Group Chief Executive Chris Conway.

“This significant timetable improvement will mean more choices for passengers travelling between NI’s two main cities and along the route.”

Translink believes that the enhanced train timetable, together with existing bus services, will strengthen links between the North West and Belfast. Martin Melaugh from the transport lobby group Into The West welcomed the news, with one or two caveats. “It’s good for commuters, tourists, business but unfortunately we can only award Translink six marks out of seven because we are only getting the hourly service Monday to Saturday,” Mr Melaugh told the BBC.Passengers travelling from Derry to Dublin will still face a delay when they arrive into Belfast, as the new service misses the Enterprise connection by about 15 minutes.
Translink have said they will continue to talk with key stakeholders about how to improve the rail network.

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Ulster Rally 2017 set to return to Derry ~ Londonderry

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Ulster Rally 2017 hosted in Derry City and Strabane District

Ulster Rally 2017 hosted in Derry City and Strabane District

Ulster Rally 2017 set to return to Derry ~ Londonderry: A host of Rally stars joined organisers and special guests at the historic Guildhall Square, Londonderry, for the launch of the 2017 John Mulholland Motors Ulster Rally. Returning to Derry City and Strabane for the second year promises both competitors and race fans an action packed weekend of motorsport throughout Derry and Strabane on Friday 18 and Saturday 19 August 2017.

This year the Rally welcomes contenders from the FIA European Rally Trophy (Celtic Cup), the MSA Prestone British Rally Championship and the Clonakilty Blackpudding Irish Tarmac Rally Championship. Stages again feature the full breadth of Counties Londonderry and Tyrone with two regroups, one in Derry/Londonderry’s Guildhall Square on Friday and the other in Strabane Town Centre on Saturday of the event.

John Mulholland Motors Ulster Rally Event Director, Robert Harkness is excited about returning to the Maiden City for this year’s event;

“It is an honour to be returning to such a prestigious venue as the Guild Hall to launch the second year of the John Mulholland Motors Ulster Rally in this historic City. We have the ideal event base at Ebrington Square with two new regroups this year in Derry and Strabane and a host of classic and challenging stages throughout the region”.

“But it’s not just the venue and stages that make these events, the stars of the event are the drivers, co-drivers and their cars and this year’s Ulster Rally promises a fantastic array of machinery crossing the start ramp in the Guildhall Square at lunchtime on Friday 18 August. We have a great selection of local competitors, many of them young and some very young, who are already making their mark in the sport. Callum Devine, Marty Gallagher and Gordon Noble venture successfully well outside Ireland; we also have Alan Atcheson, Joe McGonigle and Eathan McColgan. And what about our motorcycle racer Michael Dunlop who is now firmly caught up in rallying ?

We welcome the MSA Prestone British Rally Championship back to the Ulster Rally stages and we are looking forward to the battle for supremacy between the R5 cars in the British series and the Irish Tarmac Championship regulars. We are hopeful that our local home-grown talent will again be fighting for pole position in their respective categories in all the major championships included in this year’s event.

Robert continues; “It’s great returning to a venue for the second year and this which could only be made possible by our sponsors Derry City and Strabane District Council and John Mulholland Motors, along with Tourism NI and Visit Derry, our local stage sponsors and the 800 volunteers who give of their time so generously. The plan’s in place to make 2017 the best event yet.”

Headline Sponsor, John Mulholland Motors is based in Randalstown and Campsie and John himself was one of the first to put in his entry for this year’s event.

“This is our second year of a three-year agreement as main sponsors of the Ulster Rally, an event I have been competing in since 1994.

This year is extra special for us as it marks my 25th anniversary of participation in this iconic motorsport event. To celebrate I will be behind the wheel of a new Skoda Fabia R5 sporting a black and gold livery in recognition of us wining the UK Skoda retailer of the year (for the second time)”

Welcoming the event back to the City is Mayor of Derry City and Strabane District Council, Councillor Maolíosa McHugh; “I am absolutely delighted that the Rally organisers have teamed up with our local club – Maiden City Motor Club – to bring this prestigious sporting event to the North West region for the second year in a row. It’s also great to have our local sponsor, John Mulholland from Campsie on board once again.

In terms of economic benefit for the city and region, the John Mulholland Motors Ulster Rally will have a huge impact in terms of bringing visitors to the City who will stay locally and hopefully spend money at our local restaurants, shops and bars. We are confident the Rally will create a great buzz and excitement across Derry and Strabane throughout the month of August.

Entries for the event are now open and the organisers, The Northern Ireland Motor Club Ltd anticipate a top line up of local and International competitors and a host of the frontrunners from the various Irish and Northern Ireland Rally Championships. Also included in this year’s Ulster Rally programme is the popular Historic section and the recently introduced Junior category.

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Derry Tech For Good Company, Elemental Software Receives Investment

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Leeann Monk and Jennifer Neff Co Founders Elemental Software

Leeann Monk and Jennifer Neff Co Founders Elemental Software

Derry Tech For Good Company, Elemental Software, which has developed an award winning social prescribing digital platform that connects patients, health and social care professionals and community health & wellness providers, announced today that it has raised £300,000 with the help of ClearlySo, Europe’s leading impact investment bank. Elemental is using the capital to further develop its software that supports and empowers lifestyle change for communities most at risk, make key staff hires, and expand marketing reach.

Elemental’s platform is the only comprehensive social prescribing solution developed by community development experts that measures the impact of social prescribing and the difference that non clinical solutions can make to the health and wellbeing of communities, which is a growing priority at the highest level in government and rapidly being adopted in the UK.

Elemental Software’s platform was awarded the ‘Best Tech in the 3rd Sector’ of 2016 by Digital DNA and the best enterprise software at INVENT 2016. Leeann Monk and Jennifer Neff, co-founders of Elemental Software, said: “We are absolutely delighted that ClearlySo plugged into the Elemental vision for revolutionising the ability to socially prescribe across the health, social care and third sectors. The investment partnership, created by London based Clearly So, engages social impact investors who each bring a wealth of knowledge, expertise and resource to help us solve one of the most pressing health and social care challenges of our generation.“

More than 80% of the world’s chronic conditions can be avoided by lifestyle change alone. Despite this, chronic conditions such as type 2 diabetes, mental health related illness and heart disease are rising and so too are costs. In the UK alone, the NHS, which has a funding gap estimated at £22bn by 2020, is spending £7 out £10 in treatment of conditions while GPs capacity is strained.

The key aim of Elemental’s Social Prescribing platform is to demonstrate the value and difference that referrals to local exercise, diet and nutrition and mental support can make to peoples’ lives. Further commenting, Stefano Cappanari, investment manager at ClearlySo, said: “We were very pleased to play a role in helping Elemental scale the “more than medicine” approach to health. From grass-roots Jennifer and Leeann built a business around the patient, health and social professionals, community based providers and Commissioners and we are excited that the capital raise, which closed in record time, and capabilities from our network will allow them to take the next step in transforming our care system for better.”

Mary McKenna, Director at Elemental Software, first introduced the company to ClearlySo, and concludes “I look for startups with that magic combination of knowledgeable and credible founders, a great product and a large and ready market opportunity. Elemental Software has all of that and more.

This investment round will allow Elemental Software to reach that huge social prescribing market at lightning speed.

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Londonderry Manufacturers Invest in Growth and New Jobs

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A selection of manufacturing focussed business in Co. Londonderry come together to announce investment of over £6.2million and 51 new jobs. Pictured (centre) are Invest NI CEO Alastair Hamilton and Stephen Kelly, CEO Manufacturing NI with (L – R) Brian McErlain, McErlain’s Bakery, Ross Armstrong and Richard McMullan from Armstrong Medical.

A selection of manufacturing focussed business in Co. Londonderry come together to announce investment of over £6.2million and 51 new jobs. Pictured (centre) are Invest NI CEO Alastair Hamilton and Stephen Kelly, CEO Manufacturing NI with (L – R) Brian McErlain, McErlain’s Bakery, Ross Armstrong and Richard McMullan from Armstrong Medical.

Londonderry Manufacturers Invest in Growth and New Jobs: Manufacturing in Northern Ireland continues to grow as a selection of 30 businesses come together to announce investment of over £22 million and 282 new jobs.

The 30 firms, supported by Invest Northern Ireland, are from a broad range of disciplines: food to chemicals, pharmaceutical to transport equipment. Speaking at an event hosted by Invest NI to recognise the commitment to growth within the manufacturing industry, Invest NI’s Chief Executive Alastair Hamilton said: “Today’s event is an opportunity to highlight some of the investments manufacturing focused businesses are making. The local firms we have here today are from right across Northern Ireland.

“With £1.9 million of support from Invest NI they are making a combined investment of over £22million in our economy. As well as stimulating economic growth there are also new job opportunities, with 282 new jobs being created, which will generate over £6.3million annually in additional salaries for the local economy.”
McErlain’s Bakery, The SkunkWorks Surf company, Dynasty Group, Armstrong Medical Ltd and Gallagher & Mc Kinney Limited are among the manufacturing based firms in Co. Londonderry committed to growing their business, benefiting from combined Invest NI support of over £520,000.

Collectively these firms are investing over £6.2million in projects that will create 51 jobs. Once in place these new jobs will generate over £1.2million annually in additional salaries to the local economy.
“These investments show real commitment from businesses to invest in the future”, continued Alastair. “With investment in new equipment, skills and training, new jobs and export development, it is clear that there is real opportunity for growth in manufacturing.”

Welcoming the investments, Stephen Kelly Manufacturing NI Chief Executive said: “Manufacturing plays a huge role in the Northern Ireland economy generating annual sales approaching £20 billion, directly employing 80,000 people, supporting production and employment in a wider supply chain and creating jobs and strong communities in every constituency across Northern Ireland.

“SMEs make up 98% of all businesses here in Northern Ireland and are at the very heart of what we do in our manufacturing base. Week in, week out, companies like this continue to work very hard to keep moving forward, to build and grow our business economy and build communities.

“It is encouraging to see the progress and developments being made by firms across all disciplines. Invest NI is offering valuable support to enable these businesses to create highly skilled, well paid jobs and drive innovation and growth in export markets.” Northern Ireland manufacturing is rich in knowledge, skills and experience, founded on a strong heritage. A large number of manufacturing businesses account for 15 per cent of all local economic output and one in every nine local jobs.

Speaking about Invest NI’s commitment to helping these businesses, Alastair Hamilton continued: “Growing and strengthening Northern Ireland’s manufacturing business base is core to our strategy. We continue to focus on growing local businesses, increasing investment, and identifying new export opportunities.

“We are working closely with organisations like Manufacturing NI to support the promotion and growth of manufacturing. We have a global reputation in areas such as our Advanced Manufacturing, materials and engineering sectors. By working in partnership with businesses we can continue to support them to capitalise on new opportunities and realise their full potential.”

The investments are underway and over 100 of the new jobs are already in place. Manufacturing plays a huge part in the Northern Ireland economy with the latest HMRC 12 month rolling figures valuing manufacturing exports at just over £8bn.

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EU helps advance manufacturing with a New €8.5 million North West Centre for Advanced Manufacturing ‘Super Cluster” for the North West

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Catalyst Inc welcomes the investment

Catalyst Inc welcomes the investment

The SEUPB has announced that funding of over €8.5 million from the EU’s INTERREG VA Programme has been offered to Catalyst Inc for the creation of a new cross-border ‘super cluster’ within the Health & Life Sciences business sector.

The project is called the ‘North West Centre for Advanced Manufacturing’, and will be led by Catalyst Inc. It will support eight different key Health & Life Sciences companies involved in 15 different research projects based in the North West to develop new products and processes.

The project aims to enhance the level of cross-border research and innovation collaboration within the area of applied advanced manufacturing. It will also significantly increase the the number of Health & Life Science businesses engaged in commercially focused research in order to make them more competitive.

The project will bring together a number of partners in the creation of a new ‘super cluster’ including the Engineering Research Institute at Ulster University, the James Watt Nanofabrication Centre at Glasgow University, the PEM Centre at Sligo Institute of Technology and the CoLab facility at the Letterkenny Institute of Technology. Industry partners include Sphere Global, Randox, Lpe, Armstrong Medical, Nuprint, Abbott and GSK.

A total of 26 PhD level researchers, along with post-doctoral research assistants will be recruited over the life time of the project, to work with the eight participating companies, and create up to 98.5 years’ worth of PhD full time equivalent research.

Match-funding for the project has been provided by the Department of Jobs, Enterprise and Innovation in Ireland, the Department for the Economy in Northern Ireland and the University of Glasgow.

Announcing the funding award Gina McIntyre CEO of the Special EU Programmes Body (SEUPB), which manages the EU’s INTERREG VA Programme said: “This project will make a real impact in terms of providing support for a business sector with strong economic potential. The research produced will be used to strengthen the economic outlook of businesses on a cross-border basis.

“This is one of the core objectives of the EU’s INTERREG VA Programme which has been specifically designed to enhance the levels of Research & Innovation found within businesses across the region,” she continued.

Commenting on the announcement, Dr Norman Apsley CEO Catalyst Inc said:

‘As lead partner for the North West Centre for Advanced Manufacturing, we are delighted that the project has been awarded this EU funding. At Catalyst Inc we are focused on advancing the Knowledge Economy and this project will support the development of new products and services by bringing together industry and academic partners to work on research projects deploying Advanced Manufacturing technologies within the Life and Health Sciences sector.

This will see the development of a virtual cross-border Centre for Advanced Manufacturing with a focus on four cross-cutting thematic areas, enabling our industry partners to benefit from additional research facilities and expertise which will have a positive impact on the companies and the wider economy.

Our aim is to increase the level of cross-border collaboration across the region and raise the levels of innovation both of which are key to the regions future economic success.’

A spokesperson for the Department for the Economy said: “Investment in research and development is critical to future economic growth. Strong collaboration between industry and academia will also contribute to success. The creation of this new super-cluster is a welcome development for the health and life sciences sector and a boost for the North West border region.”

Welcoming the project Ireland’s Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor, said: “I am delighted that this project has been approved and I am very happy that my Department is in a position to co-fund this project. It is a great example of practical cross border cooperation, which will bring strong economic benefits to the eligible regions in both jurisdictions. Manufacturing has been a key sector for us over the years, providing valuable jobs and investment. This new initiative will help drive competitiveness and enhanced value-added, at a time of significant technological change in the industry.”

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Acorn Angels invest in social peer-to-peer finance platform Flender

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Padraig Canavan (Acorn Angels) and Oli Cavanagh (Flender)

Padraig Canavan (Acorn Angels) and Oli Cavanagh (Flender)

Irish-based company Flender has won a funding package including the first investment by the Derry/Londonderry Acorn Angel Group, which included Padraig Canavan, Liam Bradley and Paul McElvaney. Flender is an online platform that creates a marketplace for businesses and individuals in the Republic of Ireland to borrow and lend money safely and at better rates than those offered by the banks.

In a significant development following this investment, Flender was awarded full FCA authorisation to launch in the UK, a market nearly 300 times larger than the Irish Peer-to-Peer market. The Flender UK offering will launch in June.

Flender is the brainchild of Strabane born Oli Cavanagh and business partners Kris Koik and Jeremy Davies Betancourt. They have secured funding of nearly £1M to develop the opportunity. This marks the first investment by the Acorn Angels group, whose focus is on investing in the North West and who hope to attract more businesses to pitch for investment.

As well as the Acorn Angels, which was facilitated by Halo at Catalyst Inc, the funding package includes a number of private investors, including Mark Roden, cofounder of Esat Digifone (sold for over £1Billion) and founder of Ding, the world’s largest mobile top-up network. The company is also ‘backed by the crowd’, having reached their £500,000 funding target on crowdfunding platform, Seedrs, in January this year.

Flender enables businesses and consumers to borrow money through their existing networks of friends, family and customers. This market alone is estimated to be worth £2.9bn per annum and it is the aim of company to be first to formalise and automate it.

The platform has just gone live in Ireland and is launching in the UK in June. The company already has many businesses on their flender.ie site seeking a total investment of over €900,000 plus a pipeline of others ready to go onto the platform.

Flender’s Co-Founder, Oli Cavanagh, explains:

“Flender lets people take advantage of a disruptive marketplace that is seeing triple-digit growth, making access to funds easier and generating better returns for lenders. It is a web and mobile offering that lets borrowers decide the amount they wish to repay over a period that suits them. They are quickly matched with lenders who also get the return they want. Borrowing and lending happens via a smartphone, in a paperless transaction, and with automated payments setup and digital contracts that provide a secure legal framework. It also lets businesses reward their customers by inviting them to participate, and directs the repayments to them rather than to a bank. The knock-on effect of this is increased loyalty from customers.”

Liam Bradley, Acorn Angels, commented:

“The ability of the Flender platform to engage lenders from within a business’ own social circles is what the group identified as a real gap in the market. Within an addressable market of over £5.4bn between the UK and Ireland, we believe that the company has an opportunity for massive growth. With our first investment under our belts, we would welcome more companies from the North West applying to the group for investment. ”

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