Venturefest proves 'too valuable' for region to lose

Venturefest Yorkshire will be held at York Racecourse on February 16 2011, after independent research indicated it was "too valuable" for the region to lose.

The report on Venturefest Yorkshire's economic impact was commissioned by regional development agency Yorkshire Forward earlier this year as a review of its seven-year investment in the event.

According to the report, Venturefest has generated business valued at 2.5m and secured more than 200 jobs in the region.

Organisers said plans for next year's event are well underway despite funding uncertainties brought about by last week's spending review.

Professor Tony Hardy, Venturefest chairman, said: "It's true that public sector funding has played a key role in delivering Venturefest Yorkshire in previous years. But behind the scenes we have been working hard to maintain reserves and develop private sector backing with a view to, ultimately, making the event self-sustainable.

"This has put us in a strong position. A core part of this year's strategy is to pursue additional private income streams to ensure we deliver an event that will support entrepreneurs who make this region one of the most exciting places to do business."

For more information visit www.venturefestyorkshire.net