Member Article

£10,000 kick start for science entrepreneurs

Budding science and technology entrepreneurs are being offered the chance to access a business support package worth over £10k.

The new scheme, backed by Wilton Centre and the UK-wide BEST network of science and innovation parks, aims to help participants to become investment ready.

Called icreate entrepreneurs, it is the second phase of a project designed to provide essential support and funding to inspire innovation and support scientific business breakthroughs.

Phase one, which was a competition for investment funding, attracted a number of entrants whose bids are being considered by a range of venture capital funders.

The second phase is aimed at individuals who are at an earlier stage of their business development.

Dr Mike Anderson, the manager of the icreate programme, explained that the initial competition had highlighted a real need for support that helps individuals with innovative ideas to realise them.

He said: “We are targeting people who have the inspiration but need help and guidance when it comes to turning it into a business reality.

“We will be recruiting a cohort of budding science and technology entrepreneurs to provide them with the knowledge, experience and support in order to set up their businesses as investment ready.”

Those accepted onto the icreate entrepreneurs programme will be provided with a package worth £10,000 including fully equipped office at Wilton Centre including internet and phone connection, space in the Centre’s Innovation Accelerator plus a programme of business skills workshops.

Mike commented: “The Innovation Accelerator is truly unique as the UK’s only purpose-built facility dedicated to nurturing innovative businesses within the science, technology, engineering and life sciences sectors.

“The icreate entrepreneurs will be getting access to great facilities, a valuable educational programme and will be part of a cohort of like minded individuals who want to turn their entrepreneurial ideas into real businesses. This is an accelerator programme in the true sense of the term and will have the end point of the budding entrepreneurs applying for funding to kick start their businesses.”

Workshops for participants will be delivered by the Innovation Accelerator’s team of Innovation Partners which include accountancy and legal experts, market researchers, bankers, venture capital funders and experts from Teesside University’s enterprise and business school.

After graduating from the programme the icreate entrepreneurs will draft a funding application for one of the venture capital funders backing the scheme and be given assistance with selecting funding sources and bid writing.

Further details about the icreate entrepreneurs scheme and how to apply are at www.icreatefunding.com, facebook.com/icreateFunding twitter.com/icreateFunding.

This was posted in Bdaily's Members' News section by Rachel Smith .