Partner Article

Finance offered to Digital Start-ups

Digital start-ups in the North East looking for finance could be eligible for help from a new investment and business accelerator programme.

Ignite100 hopes to build on the success of its predecessor ‘The Difference Engine’, and will provide up to £100,000 for the ten successful businesses that are accepted onto the programme.

At the initial outset, £15,000 will be given to participating businesses, with the remainder to be paid once the business has reached its pre-agreed goals and has proved its potential.

The scheme will also provide businesses with a vast support network, with mentors on hand to provide advice, as well as numerous networking opportunities.

Jon Bradford, co-founder of ingnite100 said: “This is a vital development for early stage digital businesses for whom funding options are now increasingly limited.

“With a mix of investment capital, intensive business development support and external advice from key partners such as Google, PayPal and Amazon, we believe we can build a portfolio of sustainable businesses that will in time play their part in supporting the local economy.`’

It is hoped that the ignite 100 will offset the risk which is often involved in new business start up, and should ensure a greater likelihood of long-term success for businesses involved.

This was posted in Bdaily's Members' News section by Ruth Mitchell .