Unlocking Growth: Cornwall Angel Network's First Anniversary
09 October 2025
The Cornwall Angel Network is celebrating its first anniversary, marking twelve months of connecting ambitious Cornish businesses with angel investors committed to supporting innovation, people and place.
Since launching in October 2024, the Network has established itself as a vital part of the region’s entrepreneurial ecosystem. More than 25 angel investors have joined, four early-stage companies have raised and received a total of £189,000 in investment. There are also several further investments that are currently progressing through due diligence.
The initiative is an extension of the Launchpad Futures programme and is part-funded through the UK Shared Prosperity Fund and the Good Growth Programme. The Network has been led by Falmouth University in collaboration with the British Business Bank, Cornwall Chamber of Commerce and the UK Business Angels Association.
Details of the companies supported can be found in an Impact Report presented at an event this week to mark the first year of operation. They include Newquay-based Waterhaul, Amutri in Penryn, OrCa in Newlyn and Output Industries in Penzance.
Professor Emma Hunt, Vice-Chancellor and Chief Executive of Falmouth University, who gave the opening and closing remarks to the event, said: “The Cornwall Angel Network reflects the spirit of innovation and ambition that defines Cornwall’s business community. In just one year, we have seen local founders secure investment that allows them to grow with confidence.
“The Network is not only unlocking capital, it is strengthening the regional economy by retaining talent, supporting innovation and fostering a community of investors who care deeply about Cornwall’s future.”
Stephen Welton, Chair of the British Business Bank, which is the UK’s economic development bank, added: “These year one results from the Network, along with the progress made by the Bank’s regional funds in attracting private co-investment, give me the clear impression that, with a strong degree of public-private collaboration, the early-stage equity gap in Cornwall’s SME finance ecosystem is well on the way to being firmly and successfully plugged.”
Cornwall Angel Network’s unique role within the Cornish business ecosystem is to attract private investment from local, national and international investors into businesses with a connection to the Duchy. The investment raised in the first twelve months reached companies operating in areas ranging from creative technology to recycling and advanced materials, but the Network is sector agnostic and welcomes applications from innovative companies that have the potential to play a significant role in facilitating sustainable growth in Cornwall.
One example is OrCa (formerly known as Fishy Filaments), based in Newlyn. The company has developed a low-impact process that transforms end-of-life fishing nets into high-grade engineering plastic, creating products from sunglasses to car components.
Founder Ian Falconer described the impact of CAN’s showcase: “It was great to have more than one potential investor in the room and in Cornwall, so I wasn’t having to have the same conversation ten times or travel to London as we have had to for other investment pitches.
“The Network gave me access to high-net-worth individuals and raised the ambition within our campaign. We went into the round with a £150k target and came out with £217k — almost certainly due to the investors who came in through the Cornwall Angel Network.”
The investment has had an immediate impact with the team investing in three new components for its containerised plant – helping prove sooner than planned how its process can be replicated worldwide. As OrCa moves forward the plan is for more roles to be created in engineering, logistics, sales and support.
Those companies looking to raise angel investment are provided with support through readiness workshops focussed on building their pitch. Once they are pitch ready they can apply to present at one of the regular private investment showcase meetings.
The next such meeting will be held in November, with up to six already provisionally scheduled for next year. Companies and angel investors interested in the events can find out more on the Network’s recently launched website.
Moving into their second year with a strong foundation now in place, the Network is shifting to a more active role, promoting opportunities for both founders and investors while continuing to work closely with business support providers across Cornwall.
Dennis Lucan, Investment Portfolio Manager at Falmouth University, said: “This first year has been about testing, proving and refining the model. Now we know it works, our focus is on building momentum by growing the community of angel investors, introducing new angels to angel investing and supporting the next generation of founders to access private capital on their doorstep.
“The Network is already proving the value of keeping capital, expertise and ambition rooted in Cornwall. We’re only just getting started.”
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