A TEESSIDE University graduand who set up a fundraising page to raise money for his start-up has made £20,000 in just four weeks.

James Drew, who studied web development and spent his third year placement setting up JDrew Creations, wants to raise £100,000 by January.

In an ambitious bid for investment the 24-year-old, from Middlesbrough, launched a crowd-funding page on GrowthFunders. He plans to give away 17 per cent of his business.

The company, which developed an intuitive intranet called Ambix, was shortlisted earlier this year in Britain’s biggest business contest The Pitch.

Mr Drew, who will graduate later this month, is hoping the money will help take his product mainstream and allow the company to market effectively.

He said: “I was hoping to use my placement year to develop the concept, but when North East Process Industry Cluster (NEPIC) bought the Beta version, all of a sudden we were up and running as a business.

“It has been amazingly hectic, particularly my final year, but my tutors have given me a lot of support.

“A stake of £100 is all it takes to be part of our future success."

Kate Baucherel, an experienced business consultant, joined the company as a director.

She said: “We have been really pleased that investors are interested in us.

“There has been a good amount of interest from third parties that we would have otherwise never been able to contact.

“It is really hard work but it would make our Christmas if we were to get the full amount before then. It would truly be a champagne moment.”

The company has also been able to take on Adam Hilditch, a web and multimedia design student, to work for the company for his third year placement.

Mr Drew added: “Doing a work placement is fantastic experience and we are in a position to offer undergraduates the chance to benefit from one.”

Barry Hebbron, senior lecturer in computing, said: 'We strive to foster an entrepreneurial spirit amongst our students and were happy to accommodate James with his unique request to work for himself during his placement year.

'We are very pleased that he has taken the opportunity to develop Ambix and JDrew Creations is growing into a successful company."