A PIONEERING new forum to help high-technology companies in Yorkshire to develop their businesses has set a target of attracting £50 million new investment into the sector over the next two years.

Connect Yorkshire - the first such initiative of its kind in England - aims to develop the business skills of entrepreneurs in new technology-based firms, unlocking hidden intellectual property and providing a technology networking forum.

More than 20 leading private companies and Yorkshire Forward will launch Connect next month, providing seminars, workshops and briefings for key clusters such as bioscience, digital media including information technology and advanced engineering to help unlock future growth potential.

Simon Browning, director of the newly-formed organisation which will be launched at Magna in Rotherham on July 19, said: "Connect has one mission: supporting the creation and growth of technology-based firms in Yorkshire and the Humber." While other areas of England may be considered as suitable locations for such companies, he admitted, there were strong reasons for choosing Yorkshire, including the research strengths of York University and nine others in the region.

The Connect programme will bring together entrepreneurs, researchers, finance providers and business support providers to share perspectives and facilitate deals. Supporting the growth of high technology-based businesses forms a vital element of Yorkshire Forward's Business Birth Rate Strategy. Connect Yorkshire aims to:

- Make Yorkshire and Humber a region where technology-based businesses reach their true potential

- Promote the region's profile in technology

- Develop a business support network that understands the needs of technology-based ventures

- Facilitate the transfer of technology from industry and higher education to new and existing firms

- Enhance the ability of technology-based firms to secure appropriate finance

- Educate technologists and entrepreneurs about business development issues

Connect Yorkshire will run a range of programmes designed to meet the broad interests and needs of high-tech entrepreneurial companies as well as those professionals who work with technology companies.