Start-Up Awards
Aims of the awardsIn order to deliver real benefit in terms of accelerating technology start-up companies into US or UK markets, and reducing their risk, the programme will provide awards to assist early stage companies with their entry into these markets.
The UK start-ups are expected to embrace the expertise and existing unique entrepreneurial networks in San Diego and California, while the US start-ups will access the knowledge and networks within the SETsquared region and London to facilitate their accelerated entry into international markets.
The programme will fund a series of awards to leverage the existing networks to make introductions to potential customers, supply chain partners, human resources and providers of liquidity.
There are three categories of award:
International Travel Awards are available for a fixed amount of £1,750 to cover the costs of travel, subsistence and accommodation. Travel awards will enable initial or accelerated relationship building with the aim of bringing about business in the US for UK start-ups and vice versa for US start-ups.
Business Development Awards are available for up to £20,000. These are likely to be awarded to cover the costs of activities such as market analysis and strategy development, feasibility studies, business model evaluation and validation for entry into US or UK markets. Business development awards might also be used to identify and broker introductions to potential customers and supply chain partners, or help companies identify human capital to deploy in US or UK markets. The award may also help towards setting up a commercial presence in new markets.
Springboard Awards specifically leverage the highly successful CONNECT programme enabling companies to be rapidly introduced to tailored sets of high caliber contacts.
To apply for the awards companies must:
- be early stage technology or life sciences based start-ups
- have either generated revenue or raised capital in their domestic markets or have a product which is substantially suited to US markets (for a UK company) or vice versa for a US company
- have commercial members on the management team
Details on the application process and application form.
