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Start-up network goes under

The Edinburgh-based organisation helped 165 companies to present their business propositions at its annual Connect Investment Conference since its inception in 1996, according to the Financial Times.

The initiative was mainly funded by its membership, which included corporate partners such as Bank of Scotland and Scottish Enterprise.

The company cited worsening market conditions and an inability to generate sufficient funds as the main reasons for the closure.

"Connect has undertaken additional activities in order to bring greater variety in terms of revenues streams, regrettably they have not generated sufficient funds to allow us to continue within the current market environment," the group said in a statement.

"It is therefore with reluctance that the board has decided Connect has no choice but to cease trading."

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