What does every start-up business want from the ideal investor? The answer may seem painfully obvious: surely it's just cash and lots of it.

But new research has discovered that founders of new businesses often crave something far more valuable from their backers personal chemistry.

A report from UK Innovation Hub, a new start-up programme backed by German outfit Innogy and Tech City UK, the government-backed organisation that aims to help create tomorrows technology entrepreneurs, has revealed that start-ups want personal chemistry and trust above all other considerations when weighing up potential investors.

The findings give weight to the adage that people only do business with those they know, like, and trust.

When it comes to external investors, the research found that start-up bosses are obsessed with three key areas. These are: personal chemistry, a strong track record and access to a great network. There was a consensus from founders that the ideal investor will be someone they like and who is in tune with their product and vision.

Start-ups want personal chemistry and trust above all other considerations when weighing up potential investors

Starting a business is never straightforward and there tend to be highs and lows in the early days. Founders want investors at their side who will roll with the punches and offer words of wisdom, not reproach, if there is a bump in the road.

Indeed, the research found that founders are keen to find investors who will act as a mentor or coach when the need arises but who will otherwise be low maintenance.

As well as highlighting the priorities for start-up founders, this poll looked at the least important factors. Accelerators and incubators promising free office space and HR support are missing a trick, it emerges, as these are ranked amongst the least useful services.

With a huge array of different start-up programmes and investment options available, we wanted to get to the heart of what really matters to founders when considering funding, said Innogys Thomas Birr.

Finding someone they liked or trusted with an understanding of their product and vision, was incredibly important. Access to further funding and a great track record were also key considerations, while the add-ons many programmes provide such as free office space and pitch training were a low priority.

The research, which gathered views from 164 British start-ups, also looked into the changing funding landscape. A decade ago, bank loans were one of the most popular ways to fund a new business. Today, just over one in 10 entrepreneurs would choose this route, compared to 66pc who would consider angel investment, and 55pc who would look to venture capital.

Matt Lerner, venture partner at 500 Startups, which helped to compile the research, said: These founders are dead-on. Taking money from a venture-capitalist is like a 10-year marriage. It really has to come down to trust and chemistry. Thats why its great to reference-check your VCs before you take their money. My old roommate used to say, I only trust God and my mum. And with my mum, I cut the cards.

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Investors want more than cash - it's all about chemistry - Telegraph.co.uk