Innovate:Grow Launch

Innovate:Grow Launch

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Date and time

Location

Sunderland Software City

Tavistock Place

Sunderland

SR1 1PB

United Kingdom

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Description

Do you have an early-stage innovative business that could disrupt the market?

Are you looking to scale your business to new heights, but don't know how?

Are you based in Sunderland, South Tyneside or Durham?

Are you already generating some revenue?

If so, you could access an investment of £15,000 as part of the Innovate:Grow programme delivered by Generator and Auxin.

This investment-driven programme is open to innovative businesses of all sectors and individuals with exciting new ideas who are serious about growing a successful enterprise.

We are hosting an informal exploratory event at Sunderland Software City, where you will have the opportunity to hear from a panel of businesses who have received support from the Innovate:Programme, and have all your questions answered.

About the Programme:

Following a careful selection process, the chosen businesses will receive 10 weeks of expert business advice blending 1-1 coaching with critical peer-to-peer support to refine their innovative product or service for development and potential investment. This programme will be paid for from part of the investment awarded (more information under 'The Investment' below).

On completion of the programme, you will have fine-tuned your offering and be in a strong position to confidently pitch your business to investors and engage effectively with potential clients and stakeholders.

The Investment

Northstar Ventures will provide £15,000 to each business in the form of a convertible loan.
£10,000.00 of this will go directly into the business with £5,000.00 to pay for programme fees.
The loan does not carry interest or require security.

If you raise investment the loan plus a 20% redemption premium will convert into shares on the same terms as new investors.

If after 18 months there is no investment and the company is still trading, the loan (£15k) and redemption premium (£3k) will become repayable in equal monthly instalments over 18 months

The cohort of selected businesses will take place in March 2020.
Deadline for applications: 24 January 2020

Apply here.

This programme is supported by Northstar Ventures and North East Fund (supported by the European Regional Development Fund).

Northstar Ventures Limited is authorised and regulated by the Financial Conduct Authority.