New program offers money and guidance to start-ups

UK start-ups based in England, but outside London, listen up. There’s a chance for you to get your hands on some investments, as well as expert guidance, through this new accelerator program.

The First Bourne accelerator program is looking for start-up companies, less than two years of age, or those older, but new ideas that fit into this timeframe.

Up to eight investments, worth £25,000 at the start of the program, will be made into product-led digital companies. According to the accelerator program’s website, the target is on digital-based ideas, such as apps, mobile, data, gamification, IoT and software.

The investment into the start-up companies will be made in the form of an unsecured, interest-free loan.

A strong advantage will be given to those start-ups who are looking to digitise industries where digital is not a tradition – such as healthcare, or financial services. Besides funding, the First Bourne can also offer specialist advice, guidance and introductions from mentors.

Another interesting field the program is interested in is 3D modelling and VR, but start-ups will have to be careful to avoid content-centred products, such as film, TV programs or gaming.

In order to apply, start-up companies should have two or more active partners with a stake in the business.

“Sole founder/trader businesses are eligible if you can make a convincing case that you have the ability to make the business succeed by yourself,” the program’s website also says.

By the end of the period, start-ups must have a working prototype or a minimum viable product, backed by a strong business case.

You can find out more about the project on this link.