The Start-Up Series: Your chance to receive a £150,000 equity investment
Over the next 12 months, The Start-Up Series competition will search for the brightest entrepreneurs with the smartest ideas to each qualify for one of 12 planned seed investments from a total of £1.8m equity funding...
The UK’s largest ever seed funding search competition – The Start-Up Series – is now open for entries. Winners will qualify for funding from Seed Enterprise Investment Scheme (SEIS) fund created by Worth Capital.
Launched by Startups.co.uk in partnership with Worth Capital, The Start-Up Series is a series of monthly competitions.
Every month, one winning business will be selected to be put forward for up to £150,000 seed funding – subject to terms – from experienced and successful investors.
Where will the investment come from?
The investment is planned to come from a dedicated SEIS fund which is being launched specifically to back the qualified winners of the series of competitions.
About Worth Capital
Worth Capital has a proven track record in helping new entrepreneurs obtain funds and expertise to help turn their ideas into successful, sustainable businesses.
Through previous competitions with the likes of Facebook and Metro, Worth Capital has invested over £600,000 into start-up businesses. Previous winners Tart and Splendy Entertainment have gone on to raise additional funding at more than double their original valuation.
Worth Capital founders Paul Soanes and Matthew Cushen are brand, retail and innovation experts and experienced angel investors with over 30 seed investments between then.
Who is eligible for The Start-Up Series?
The Start-Up Series is for early stage consumer businesses: creating a new product or service, or new ways to buy them.
The owners would want to receive funding from investors in exchange for equity in their business. And because the fund will be for SEIS investments the business needs to satisfy some criteria set by HMRC:
- Your business must be UK-based and you must be a UK resident – you must be over 18 years old at the time of entry
- Your business must have been trading for less than 21 months and have less than £200,000 in gross assets (so as to qualify for SEIS-funding)
- You must employ fewer than 25 staff
- Certain financial services and property business are unlikely to qualify.
Why should I apply for The Start-Up Series?
This is a first-of its kind opportunity to support the best of UK start-ups; there are a number of reasons why you should apply for The Start-Up Series:
- Unrivalled opportunity: Up to £150,000 of seed funding is being planned with each monthly competition resulting in a winner
- Quick decisions: Results usually known in under eight weeks
- Support: Each winner will have support from Worth Capital via an experienced director
- Media coverage: Winning a high profile competition and the exposure that generates is good when talking to customers, potential employees and future investors.
How can I apply for The Start-Up Series?
Entries for each month’s competition will open on the first Monday of the month and close on the second Sunday of the month. The first competition window is Monday 3 October to Sunday 16 October 2016.
You can register your basic information on The Start-Up Series website and then when the competition window is open, you will be contacted by email and provided with a link to the competition application form. The initial application is very simple and quick, just a few details and a two-minute video or two-page document. If you are successful in getting to the next round, you’ll be asked for some more information.
For a detailed timeline of how the application process works, click here.
Entrants will be sourced and promoted by Startups.co.uk and every winner will be chosen by Worth Capital. Funding of the winners will be subject to satisfactory completion of due diligence and approval by the fund’s investment manager.
So what are you waiting for? Enter your business for The Start-Up Series competition here.