A CALL has gone out to private investors to help local firms grow fast.

The Techinvest business angel introduction service, which has already helped several East Lancashire firms, is now looking for more potential backers to help firms with cash and expertise.

In the last six months the service, which matches investors with companies, has helped Blackburn-based Advanced Pain Management secure new funding to help it develop the market for its electrical pain relief devices.

"Following the success of our products we wanted to take the company to even greater heights and needed a capital boost in order to do this," said Nigel Fryer, managing director of the firm, based at the Greenbank Technology Park in Blackburn.

"The service we received from Techinvest was excellent. Not only did they help us secure the additional finance we required but the quality and depth of expert support they provided was invaluable."

Techinvest has set up an Investors Club for members to meet other investors and companies.

"Smaller companies in the region provide a real opportunity for experienced businessmen to become private investors or business angels," said Vivienne Upcott-Gill, manager of Technivest.

"These people can commit not only a small amount of finance but also their time and business skills to grow and protect their investment."

Further details about Techinvest are available through ELTEC, Business Link East Lancashire and the East Lancashire Chamber of Commerce.

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