The Solent Enterprise Hub (SEH) has launched a 'dating agency' for businesses and investors in a bid to bridge the equity gap holding back bright, emerging, companies.

The Solent Investment Opportunity Network (SION) aims to introduce 'business angels' to companies located in an area that includes Chichester, Portsmouth, Southampton and Bournemouth.

Under the initiative, the SEH will maintain a register of high net worth individuals - the business angels - whose background and experience make them ideal potential investors in forward-looking businesses. Companies involved in SION will present their plans at specially arranged events in a bid to attract the investment they require.

"The Solent area is home to some extremely exciting small companies who know where they are going . . . but need a little help to get there," says Hub director Arthur Monks.

"Our business angel network aims to help these businesses find funding typically in the range from £100,000 to £500,000 - levels of finance that are very hard to secure in the world of venture capital. More than this though, the business angels in our network will add significant value through their commercial acumen."

SION has already attracted the support of Grant Thornton, HSBC and OFEX and is now building its register of investors with the approach of the first presentation event - due to be held at the SEH offices at the Portsmouth Technopole on May 12.

Up to five companies are due to present their business plans to potential investors. They range from specialists in SMS marketing to businesses developing advanced speech recognition technology and management information systems.

Says Grant Thornton's Julian Sheppard: "This new venture in the Solent area is good news for those local, innovative, businesses that have the drive and ambition to match their business plans. The future of the regional and national economy relies on people turning bright ideas into exciting, prosperous, companies and this angel network is an excellent way of supporting that objective."

Roy Wood of HSBC Bank echoes these thoughts. " Over the past two years, I have seen the effect on early stage businesses as they struggle to find the elusive 'angel' to provide the seed corn funding to get the business off the ground. This initiative will be a real boost to the area."