THE devastated parents of a business executive killed in a skydiving accident have pledged that his death will not be in vain.

Colin Graham, 23, was killed when his parachute failed to open on only his third jump.

His family said they were determined to ensure his memory would live on, and announced they were setting up a fund in his memory, dedicated to helping others.

His father John, of Whitley Bay, North Tyneside, said: "Our son is dead and it is a huge loss to our family.

"He was so full of life and energy and made such an impact on everyone he met. When he was killed I thought I would have to go through the rest of my life feeling miserable and empty, but when I met some of Colin's friends they suggested we set up a fund in his memory to help people less fortunate than ourselves.

"It means we can go on with some purpose again."

Colin, 23, who lived in a luxury apartment overlooking the Tyne, gained a first class degree in computer science at Newcastle University before joining Andersen Consulting as a computer expert.

He had been given instruction at the Border Parachute Centre, Chathill, Northumberland, before the tragic jump from a Cessna 182 plane last Saturday.

He jumped from about 3,000ft, but plunged to the ground when his main parachute failed to work and his reserve did not open fully in time.

Police and experts from the Civil Aviation Authority have begun an investigation.

The Northumberland coroner is likely to hold an inquest into his death early next year.