Pictured above: (l-r) John Dixon (Minerva investor), Ian
Mackenzie (Genesis UK) and Tim Powell (Minerva)
An invention is set to move the telecommunications industry into
the fast lane after receiving backing from a group of local
investors.
Genesis Technical Systems has perfected a new technology in the
shape of hi-tech DSL Rings which dramatically increase the speed of
broadband internet using existing copper wire networks rather than
the need to replace them with costly fibre optic cables.
The Canadian company, which plans to move its UK operation to
the University of Warwick Science Park's Venture Centre in Sir
William Lyons Road, has secured £120,000 from Minerva, the
University of Warwick Science Park's business angel network
investor group.
After DSL Rings are fitted to existing copper cables, data can
be transmitted along them at up to 400 Mb/s even over long
distances. This means telecommunications companies can offer top
speed internet access at a fraction of the cost it would take to
replace miles of copper wire with fibre optic cables.
Minerva's investment will be used to further product
developments and progress trials with European telecommunications
companies.
Genesis is already in talks with two major firms in the UK as
the telecommunications industry looks to meet the challenges of
supplying every household in the UK with fast, reliable internet
access.
Ian Mackenzie, Genesis UK chairman, said: "Genesis is thrilled
to receive support and investment from the Minerva business angel
network.
"Following recent successful demonstrations of Genesis' DSL
Rings capabilities with two incumbent European telecoms providers,
we want to accelerate product development and give web users the
option for super-fast broadband in rural, and urban, areas within
the next couple of years."
Minerva was set up 15 years ago to assist small and medium size
businesses with high growth potential to access the funding they
need to fulfil their promise - with particular emphasis on raising
private equity.
In the past 12 months the Minerva investor group has grown to
include 42 members and has helped to secure investment of over
£2.7 million for small to medium sized companies -
£400,000 of which was directly contributed by its
members.
Tim Powell, who took over as head of the Minerva business angel
network in 2009, said: "We are delighted to have been able to
support Genesis Technical Systems, they have a fantastic product
and we have no doubt it will prove to be a big success.
"But the cash investment is only a small part of the story. The
company will also be able to call upon the expertise and business
knowledge of some of the leading business minds in the country -
and that is an investment you cannot put a value on.
"We will follow the progress of Genesis closely, who are just
one of four companies who have successfully pitched their business
proposal to our syndicate investor group that meet at the Science
Park every month to consider high growth investment
opportunities"