Startups and Worth Capital launch UK’s largest ever seed funding competition
£1.8m Start-Up Series competition will invest £150,000 seed capital into one bright start-up every month for the next 12 months…
Startups.co.uk – in partnership with experienced investors Worth Capital – has launched the UK’s largest ever seed funding competition today, giving start-up businesses across the country a chance to apply for a share of a £1.8m investment pot.
Running for the next 12 months, The Start-Up Series competition will select one start-up every month to receive up to £150,000 in seed funding, drawn from an SEIS fund, at a fair valuation from experienced and successful investors.
An unrivalled opportunity to secure a high level of seed finance, winning businesses will also gain access to support from an experienced Investor Director alongside media coverage.
A first-of-its-kind competition to support the best of UK start-ups, The Start-Up Series is open to early-stage consumer businesses developing products, services, or new ways to buy them.
As the fund will be for SEIS investments, interested businesses will need to satisfy the following criteria set by HMRC:
- Your business must be UK-registered and you must be a UK resident, aged 18 or over.
- Your business must have been trading for less than 21 months and have less than £200,000 in gross assets.
- You must employ no more than 25 staff.
Entries for the October competition of The Start-Up Series are open from Monday 3 October to Sunday 16 October 2016.
“Startups.co.uk’s readers have consistently told us that access to finance remains the biggest challenge they face, so we’re incredibly excited to be able to announce such a unique and amazing competition format,” said editorial director Ian Wallis.
“The guys at Worth Capital are so passionate about backing and helping their investee companies grow. They have an excellent track record already and we’re confident this seed funding competition will unearth some of the brightest and most back-able entrepreneurial businesses the UK has to offer.”
Matthew Cushen, co-founder of Worth Capital, added: “My partners and I have been investing in start-ups for many years. We’ve found that as well as some cash, the companies we invest in value our experiences – from growing our own businesses through to having big jobs in large retailers. And we get a huge kick out of seeing start-ups grow.
“So with Startups.co.uk we cooked up a way to help many more young businesses to gain funding and a way for investors to build a diversified portfolio of the brightest entrepreneurs with the smartest ideas. We hope that all entrants to the series will use the competition process and our feedback as a way to hone and strengthen their strategy and plans.”
If you’re a promising business with a bright idea, enter The Start-Up Series competition here.
To find out more about The Start-Up Series competition and to apply, click here.