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."
Australian government to require technology and communications companies to provide access to messages
New bill avoids demanding 'backdoors' in encryption, but includes measures to compel companies to provide access to encrypted communications
Indonesian overclocker Ivan Cupa (with the aid of a lot of liquid nitrogen) achieves record overclock on AMD's latest Threadripper
Ssupermassive black hole is so big it corresponds to four per cent of the galaxy's total mass
Imminent attack will target a single bank with cloned cards used to fraudulently withdraw millions over one weekend