AEGFAdvantage Early Growth Fund
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Environmental aspects : The underlying investments to be guaranteed by the AEGF are expected to include renewable energy, energy efficiency, small-scale hybrid energy systems, electricity transmission and distribution projects.
Meanwhile Keith Noronha, aged 52, managing director of Reynolds Technology, is another entrepreneur who has seen his business develop with support from AEGF.
Since February 2004, the AEGF has made 58 venture capital investments in 40 companies across the region totalling pounds 5.
AEGF managing director Kevin Caley said: "Piezotag is a great example of how the range of business support and investment services in the region can make a fundamental difference to early stage businesses with growth potential.
The EIB initiative - AEGF - once it is fully realized will facilitate projects that can offer African countries with sustainable cleaner energy alternatives to support their energy needs.
AEGF, which averages one new investment a month, has now made 60 investments in 40 companies since its February 2003 launch.
Kevin Caley, managing director of the AEGF, said: "Joanne's enthusiasm and determination to make Faveo a success caught our imagination, not just with the AEGF team but with about 30 private-sector investors who decided to support a company which has terrific high-growth potential in the years to come.
Kevin Caley, managing director of AEGF, said: "The quality of the deal flow has been excellent.
Kevin Caley, manager of the AEGF, said: "The continuing success of the investee companies speaks volumes for the achievements of a new breed of entrepreneurs working in the region.
The AEGF is part of the Access to Finance framework, supported by AWM, which has a pounds 30 million fund available to help small and medium-sized enterprises looking to access funding between pounds 10,000 and pounds 250,000.
With investments ranging from pounds 10,000 to pounds 100,000 and averaging about pounds 75,000, the AEGF has already pumped a total of pounds 905,000 in 12 companies in the last nine months.