Demon Internet founder Cliff Stanford last week unveiled his latest brainchild: Redbus Investments, a venture capital firm.
The IT entrepreneur has earmarked #15 million for the business, out of the cash he netted from the #66 million sale of Demon to Scottish Telecom.
Redbus will provide financial, operational and management support to British companies and individuals with innovative ideas. The services won't just be open to IT companies, however - all industries are eligible to benefit.
"I have seen too many good ideas go to waste as a result of lack of business experience and financial backing," said Stanford. "With Redbus, we intend to change this."
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