University spin-out support technology revolution
Published: 14th September 2009
Sheffield based Tangentix has been established to pursue the commercialisation of new technology created by the University of Bradford.
Tangentix, led by Professor Hassan Ugail, has developed a way of handling 3D graphic models which has the potential to improve and enhance the graphics of video games and movies, while changing the way they are implemented in consumer electronics.
A spin-out company from the University of Bradford’s School of Computing, Informatics and Media, Tangentix exploits patented technology that uses mathematical models to enable the efficient creation, transfer and storage of 3D object data.
The development could see the technology being applied to a range of markets from game production and distribution, through to the silicon devices used in computers and consoles.
South Yorkshire Investment Fund’s (SYIF) Seedcorn Fund and Enterprise Ventures’ (EV) RisingStars Growth Fund, have both completed investments in Tangentix Ltd to support the development.
Ed French, Fund Manager for SYIF’s Seedcorn Fund, said: “As specialist technology investors, we like to support companies with potential, especially where we are able to get involved to help at the very earliest stages of development.
“We look forward to continuing to support Tangentix through the challenges of taking its groundbreaking concept through to the commercialisation stage.
“We are excited by the broad scope and potential value of Tangentix – Hassan and his team have taken a completely different approach and their technology has applications in a number of markets.”
Professor Hassan Ugail added: “We approached a number of investors looking for help to explore the potential of our technology.
“SYIF and EV provided invaluable assistance in exploring the alternative commercial routes going forward. They have helped to identify a number of high calibre and specialised individuals to work alongside the team to help pursue those routes.
“The investment has given us the opportunity to explore our technology and I really do believe that no other investors would have taken such a keen interest in the company and its technology at this proof of concept stage.”
Seedcorn, loan and equity linked investments, ranging from £15,000 to £2.5m are available from SYIF, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
For more information about South Yorkshire Investment Fund, please visit www.syif.com or ring 01709 386377.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).