£200,000 nationwide start-up initiative launches for retail entrepreneurs
Equity crowdfunding platform Seedrs backs Worth Foundation Fund competition
A contest to identify Britain’s “most talented” retail entrepreneurs, offering a share of up to £200,000, has launched today led by retail consultancy Worth Retail, in partnership with Seedrs (pictured) and Metro Business.
Open to early-stage UK businesses with a turnover of less than £250,000, the Worth Foundation Fund competition seeks to find three retail start-ups that look to be “the next big thing” in the retail landscape.
Shortlisted entrants will pitch to a judging panel of industry experts and leading entrepreneurs including Worth Retail founder’s Alex Johns and Paul Soanes, Seedrs’ Jeff Lynn, Mind Candy’s Michael Acton Smith, and Roger Wade of Boxpark.
The three chosen finalists will then feature on Seedrs crowdfunding platform where investors will be able to back up to £100,000 in the overall winner and up to £50,000 in the two runners-up.
Alongside the crowdfunding investment, the overall winning business will receive a prize package which includes 12 months mentoring from Worth Retail, £3,000 cash, and the chance to try out a pop-up shop at Shoreditch pop-up mall Boxpark for one month.
Six months mentoring and a £1,500 cash prize will also be provided to the two runner-up businesses.
The Worth Foundation Fund competition closes on March 7.