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Programme launched to boost Teesside startups and emerging entrepreneurs

Teesside University has launched a new startup package to help graduate entrepreneurs grow their businesses.

Available to graduates in the early stages of developing their idea, the Launchpad FUEL programme offers up to £10,000 worth of grant funding to assist in the developments of concepts or products.

The scheme also gives entrepreneurs up to £6,000 to cover their living costs and up to £3,000 for a co-founder.

In addition to the funding, those on the programme will receive office space for six months and a support package including specialist mentoring, business workshops, networking and access to finance and investment support.

Initial successes

Beginning the scheme, fourteen teams of entrepreneurs have undergone a five week development programme for their businesses and pitched their models to a panel of judges to test their eligibility for the programme.

Seven teams have been successful in gaining FUEL funding and will be based at Teesside Launchpad, in Victoria Road, Middlesbrough.

Enlisted entrants on the programme include mobile games design studio Big Nasty, Health+, an app to manage prescriptions and promote medical research, and Silhouette Wolf a computer games developer.

Also making up the cohort is games design studio Foxbyte, fashion firm Cotilda’s Fashion, cosplay costume design SpaceBoss and Hobgoblin 3D which makes 3D printed components for the board game industry.

Steve Dougan, Head of Graduate Enterprise at Teesside University, said: “This is a unique experience which we are able to offer to startup companies.

“There are lots of loans out there for early stage businesses, but it’s very rare to find a scheme which offers grant funding. This can be absolutely essential to businesses, as it prevents them being burdened by debt in their infancy.

“When you factor in the dedicated incubator space we have here at the University and our network of support, I honestly believe that what we are offering cannot be found anywhere else.

“Even those business which didn’t go through to the FUEL programme will benefit immensely from the five week development which they underwent.

“We want to demonstrate to our students that starting their own businesses is a viable career path and this offers an excellent opportunity for them.”

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