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Applications open for TrueStart's winter retail tech accelerator

Accelerator and investment fund, TrueStart, has announced that applications are now open for this year’s winter cohort at its Victoria-based accelerator.

The Winter Collection 2016 is a four-month programme running from 2 December, and is Europe’s only retail and consumer-focused accelerator and investment fund.

In what will be the fourth such programme since 2013, successful startups will benefit from mentorship from TrueStart and its extensive connections in retail, which includes strategic partners such as River Island, John Lewis and Morrisons.

Commenting on this winter’s programme, Baz Saidieh, Chief Executive Officer at TrueStart, said: “As we open each new programme, the quality of the applicants continues to soar. Our expectations continue to be exceeded with each programme as we witness some truly innovative startups that are primed to disrupt our industry.

“We are attracting rock-star founders from all sectors that are set to change retail and consumer industries in the years to come.”

In exchange for mentoring, support and desk space at TrueStart’s headquarters, the firm offers either £25,000 for a 4.5% equity stake, £50,000 for 9% or a zero cash deal for 3% in participating startups.

The accelerator programme has grown significantly in the last few years with over 250 applications for its Summer Collection, which included bike navigation startup BeeLine who closed a £500k seed round this week.

Specifically targeting innovative startups who have the capability to disrupt the retail and consumer market, previous cohorts have attracted the likes of City Pantry, who have recently raised £1.1m and Photospire who are currently working with Morrisons and John Lewis.

“Our retail network, built up over many years’ in the industry, is what enables us to stand out from the crowd.

“This door-opening potential to some of the UK – and world’s – most leading retailers and decision makers in the retail and consumer industries provides support, advice and most importantly, scale our startups need. It is a game changer, for both the startups, but also the retailers looking for innovation,” Saidieh added.

Interested startups have until 16 October to apply.