Labour MP for Gateshead Ian Mearns visited e2E, a VCT backed satellite communications company in his constituency.
Mearns heard how the company, founded in 1999, is working towards disrupting the way satellite communications are provided, by making them more accessible to smaller businesses. He was particularly interested to learn that e2E is building up its production and operational capabilities in the North East, with the ultimate aim of establishing the first UK Satellite and Service Operations Centre for nano-satellite communications.
Mr Mearns was also welcomed by Andy Thomas of YFM Equity partners, who provided e2E with substantial Venture Capital Trust (VCT) investment in late 2017. This investment allowed e2E to take a new technology – Software Defined Radio (SDR) – to market, while creating a number of new, highly skilled jobs in Gateshead.
Barry Ross, CEO of e2E, said:
“The North East is an ideal location for our product and service operational aspirations, with plenty of enterprises on the doorstep that will benefit from cheaper satellite delivery from newer airborne platforms – particularly in rural regions.
The North East has excellent facilities and educational links that will help take us forward towards our vision. The investment options backed by YFM have further been well in line with our growth strategy, and brought into play much needed business support”
Ian Mearns MP said:
“e2E is a true North Eastern success story that Gateshead can be proud of.
“Many small businesses I have met have had a clear idea of the path they wanted to travel, but have lacked the capital to get there.
“e2E, with the help of YFM, is a testament to just how successful small businesses can be when they have the required funding to support the growth they are capable of.
“I hope to be invited back!”