BPEC hold annual summer event at Bristol Zoo – 9 July 2018 July 2018
Successful Bristol entrepreneurs, who invest in and support the city’s growing businesses, held their summer event at Bristol Zoo. This was to celebrate £3 million having been invested in 10 growth businesses since launch two years ago.
Bristol Private Equity Club enables those who have been successful in business to pass on their expertise and vital funds to businesses that can convince them they have a bright future.
The club was founded in May 2016 and has grown from six to 70 members, primarily supporting projects requiring between £100,000 and £500,000 of equity funding.
Club Chairman Allan Rosengren said: “We are a club rather than a fund, so each of our members will decide whether they will personally invest in the businesses which present to us. Above all, we want it to be enjoyable for us as well as good business and events like this are part of our growing social programme.
BPEC SPONSORS Annual SETsquared Tech-Xpo 2018 July 2018
BRISTOL ENTREPRENEURS BACK GROUNDBREAKING SKIN CANCER EARLY WARNING SYSTEM July 2018
A technology business which is aiming to revolutionise the early diagnosis of skin cancer has received a £300,000 investment from the Bristol Private Equity Club.
Skin Analytics is using artificial intelligence (AI) developed in Bristol to provide a smartphone-based skin cancer “early warning system” for GPs – enabling patients to be screened for potential melanoma and making early diagnosis easier.
The company’s technology uses dermascopic imaging and automated screening to identify potentially risky – or “ugly duckling” – moles or skin lesions and can detect any changes over time.
The algorithms used by Skin Analytics’ flagship product were developed by the company’s head of AI, Dr. Jack Greenhalgh, while at Skin Analytics following his PhD at the University of Bristol.
The £300,000 investment will enable the company to launch its product into the market this year. It is part of a total of more than £1 million raised by the business in its recent fundraising round and follows its “Best Investment in AI” award at the UK Business Angels Association Awards.
Founded by CEO Neil Daly in 2012, Skin Analytics is based at the “Silicon Roundabout” tech hub in London’s Old Street.
“There has been a huge increase in the rate of skin cancer across the UK in recent years at a time when there is also a severe shortage of dermatologists, both of which are putting huge pressure on the healthcare system,” says Neil Daly.
“We want to help more people to survive skin cancer and to improve the outcomes in the system. Our technology aims to achieve this by enabling a GP to screen patients in his or her surgery and to decide which lesions need to be treated in hospital, and which do not.
“We are delighted with the way our fundraising went and with the investment from Bristol Private Equity Club, as originally we only intended to raise a total of around £500,000.
“We have built and tested the systems and carried out a number of clinical studies – now this investment will enable us to move from focusing on R&D to having a fully marketable product which we can roll out later this year.”
Bristol Private Equity Club was founded in May 2016 with six investor/members and has grown to 70 members, primarily supporting projects which require between £100,000 to £500,000 of equity funding. This is the twelfth deal concluded by BPEC, resulting in investments of more than £3 million in two years.
Jerry Barnes, a founding member of Bristol Private Equity Club, said: “Skin Analytics’ technology has the capability to save huge amounts of valuable time and resource for our under-pressure healthcare professionals.
“We are delighted to be supporting such a groundbreaking product with such strong local roots, and clearly we are not alone in recognising the company’s potential.”
Further details can be found at www.bristolprivateequityclub.com and www.skin-analytics.com