TLDR:
Key Points:
- 65% of Northern Ireland’s funding deals last year went to startups with all-male executive teams
- 35% of funding deals went to startups with at least one female executive
According to the article, Northern Irish tech saw record spending of £143.2M in 2023 with gender parity still far off. The Catalyst Deal Tracker revealed that 65% of the 72 funding deals in Northern Ireland last year went to startups with all-male executive teams, while 35% of the deals went to startups with at least one female executive. Despite the challenging economic backdrop, including the end of historically low interest rates, investment in Northern Irish companies increased, with funds from investors like SV Health Investors, Maven Capital Partners, and Guinness Ventures. The formation of the Awaken Angels fund, a community of 3000 founders and investors aiming to decrease the gender and diversity gap in early-stage funding, could contribute to a more balanced allocation of capital in the future. Notable investments included £11M raised by Cumulus Neuroscience to address neurodegeneration issues with a biomarker platform. Steve Orr of Catalyst highlighted the growth in investment, with seven deals last year surpassing the £5M mark, demonstrating investors’ increasing understanding of Northern Ireland’s startup ecosystem.
