A new startup incubator based on a bus has launched an IndieGoGo campaign to try and raise £35,000 to make the project a reality.
IncuBusLDN, potentially based in Old Street's trendy Red Market, is the brainchild of Your Hidden Potential co-founder Rishi Chowdhury and George Johnson, coming two months after the two met while working on Huddle.
The startup incubator will cater to five high-growth startup teams every six months, with the stipulation that they fall between the ages of 16 and 22. The teams will be offered mentoring, workshops and investor introductions. Participants will also be given the additional chance to take up six-month internships at other startups.
“We want to help people who are coming out of school and looking to start their own business, rather than going to university. We’ll offer them experience of working in a startup for six months, giving them contacts in the area, followed by six months on the bus, where they will be mentored and introduced to investors. We want to really get them off the ground and to a stage where they’re looking for their first round of funding,” Chowdhury told TechCityNews.
Anyone wanting to participate in the scheme will have to give up “around £3,000” for the 12-month service which includes all of the features mentioned above as well as office facilities. When the programme is completed, each startup will agree to give up 10 per cent of the initial investment.
The bus itself will house a community area on the ground floor that will hold pop-up shops and meet-ups, as well as housing Code Club get-togethers.
Code Club is a nationwide initiative that encourages and supports young people looking to get into programming and development.
Chowdhury added that the scheme will “favour high-growth tech startups that can generate lots of users in a short amount of time” and reiterated that it’s all about being sure they have “the right people who can make it as entrepreneurs”.
IncuBusLDN’s IndieGoGo campaign will be live until 5 September and offers a range of investment opportunities, from a £10 supporter option to a £5,000 bus advertiser option.