BRAINY executives will be "parachuted" into some of Yorkshire's most promising technology companies, in a new scheme announced today.

The initiative, known as Fast Invest, is run by Connect Yorkshire, which primes the region's technology firms for fast track growth.

Fast Invest works by getting experienced executives into young technology companies in order to bridge any gaps in their management team, as well as bringing the company increased business acumen and contacts.

Connect Yorkshire's executive director, Nick Butler, said: "For a technology company to be successful, they must realise their business plan quickly. We know from talking to companies that an experienced executive would be invaluable in this situation.

"However, this is a luxury most fledgling companies cannot afford - thus the idea for Fast Invest was born."

Executives will help up to two companies at a time, for six to 12 months. To keep the fund evergreen, and to help future technology companies, the executive's salary will become a debt due to Connect Yorkshire, repayable over four years.

One of Connect's sponsors, NESTA, (the National Endowment for Science, Technology and the Arts), recently piloted a similar part- time management programme.

The results have been encouraging, as one Warwickshire-based company, Transport Design International (TDI) testified.

The three months' help it received from an appointed NESTA executive resulted in the Minitram being prepared for investors' scrutiny.

Now the Minitram, a zero-emission vehicle, said to offer the best features of a tram for the price of a bus, is due to be trialled by Bradford City Council next month.

Updated: 11:14 Friday, September 09, 2005