A group that provides start-ups and new businesses with "angel" investment has helped raise over £1m.

Bay Business Angels helps raise funding for businesses in South Cumbria and North Lancaster

The group attracts a diverse range of businesses to their events with past pitchers covering sectors including manufacturing, digital, food and drink, agriculture and technology.

On average 60 per cent of businesses receive investment offers.

Bay Business Angels is the only business angels investment network in the North Lancashire and South Cumbria area.

The group is backed by businesses in Cumbria and Lancashire including Lancaster University and its management school.

The partnership allows the Bay Business Angels network to offer support and other opportunities to businesses it engages with.

Pete Cornwall, business liaison manager at Lancaster University Management School, said: “We are really pleased with the success of the Bay Business Angels group.

"To have such a high percentage of businesses generate serious financial interest from some of the North’s leading investors demonstrates the high quality of businesses and entrepreneurs in the Bay area.

"We have excellent, innovative and vibrant young companies in the North West and the high number of investments secured show we can rival the traditional major centres for business start-ups."

Other businesses involved in the group are commercial law firm Baines Wilson, accountants MHA Moore and Smalley and Baldwins, NatWest, Barclays and Manchester based Access to Finance.

The next investment event will be held on October 31 at Lancaster University Management School.

If you are interested in finding out more about applying to Bay Business Angels or attending the event as a potential investor contact Martha Winn - m.winn@baineswilson.co.uk.