If you were to ask a small group of people from all walks of life where the best start-up community was housed right here in the UK, they would most likely turn and say London. Now, that can’t be completely true because as the nation finds out every week, that community continues to grow and isn’t showing any signs of slowing down. Up and down the country there are companies and businesses dedicated to pushing the start-up and entrepreneurial spaces to their highest limits through programmes, institutions and even larger companies. The effect it is having on the nation is remarkable and soon it will overtake the importance of conglomerates for sure.
The North West of England has a very well funded start-up community right now. Recent buzz has been around the North West Fund which has reached an immense figure pushing over £100m. Staggering! The association has shown tremendous outcomes with the start-up community further up the country.
Providing finance from £25,000 to a whopping £2m, the North West Fund grants applications to start-up companies in the area, relocating to the area/region with the vision to develop and grow their business. The private sector has placed a huge chunk of money into this institution that topped up the funds to an incredible £150m. The figures have been released to show that more than 20% of the investments made have been into developing start-ups which is something we are super stoked to hear.
The business benefits of such a magnificent fund institution is that they reach out to numerous industries and disciplines. The arenas are: Digital & Creative, Biomedical, Energy and Environment. Amongst the eligibility criteria to apply for the available funds, not only do you have to be in the region to be eligible but also be no more than 249 employees and have various balance sheet and turnover funds below particular thresholds. It’s all outlined within the European Union business specifications as well so it’s suggested you do your reading, and plenty of it.
All in all, this is a fantastic association helping to fund start-ups in the areas they need it most – to develop and discover. The expansion of start-ups within the UK is reaching a phenomenal growth rate and is a very exciting place to be in and witness everything going on.