An exciting software application for the sports betting industry has been backed for success by the region’s Design and Creative Fund.

Tipstar, which has been created by three of Newcastle’s leading software developers, provides market intelligence for gamblers and bookmakers via a range of web-based services.

The Design and Creative Fund, which is managed by North East Finance, is backing the company with a capital investment to the tune of £150,000 to launch the service in summer 2009. Once launched, Tipstar will be available across a range of platforms from computer desktops and browsers to mobile phones.

It has already attracted the interest of several major bookmakers, brokers and businesses within the industry.

Rob Mathieson, Tipstar managing director, said: “Tipstar essentially consolidates all the information you could ever need for sports betting in one place, whether that’s football, horse racing or rugby. We spotted a gap in the market and have spent a couple of years researching, developing and fine tuning the software.

Based at Gateshead’s International Business Centre, Tipstar was set up last year by a group of industry specialists - Rob Mathieson, Tony Olanipekun and Kevin Reece.

Rob added: “The investment from the Design and Creative Fund is helping us to move beyond the proof of concept stage to a position where we can take the product to market and attract follow-on funding. There’s been good interest so far. We know the product works and are looking forward to launching later this summer.”

North East Finance’s Design and Creative Fund was set up with money from One North East to support the development of the region’s design and creative sector. To date, it has invested £1.8 million in exciting businesses with typical investments of between £60,000 and £150,000.

Jon Bradford, fund manager for North East Finance’s Design and Creative Fund, said: “Tipstar is exciting and innovative with substantial potential for growth in the UK.

“The sports betting industry is an expanding market and Tipstar can provide a genuine service to many gamblers and bookmakers that’s currently not available anywhere else. It will help to simplify a huge amount of data and demystify sometimes confusing information.

“Tipstar first approached us about 12 months ago and have worked hard to shape the business into a position where we can now invest. We look forward to their future success.”

For more information about the Design and Creative Fund, contact Jonathan Bradford at North East Finance on 0191 211 2316 or email: jon.bradford@northeastfinance.org.

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