VFB 2013 - Seed and startup funding - Business West and Virgin Startup

Start-up and Seed FundingTara Gillam @taragillam

Darren Westlake @crowdcubeTom Jarman @tomajar

#Venturefest

Tara GillamBusiness West

Funding and Support for Startups and how to access it

Content

• Business West• Who we are• What we do

• Ready for Business Programme• Startup Loans• SWIG Start-Ups• Virgin Startup• Non Start-up Business Finance/Funding • Contact Details

Who we are

One of the most influential business leadership organisations in the UK

Work with & represent over 16,000 businesses in Bristol, Bath, Gloucestershire, Swindon and Wiltshire as well as across the wider South West

Over 200 Employees and an annual Turnover of about £18M

What we do

Ready for Business

• National Business Start-up Programme• Funded through the BIS’s Regional Growth Fund• Assists start-ups in Business Planning and Accessing Finance• Funded available to March 2015• In the last 18 months the south west has:

– Engaged with over 1,200 potential business owners – Over 1,000 people have attended our 1 Day workshop– 900 business diagnostics have been delivered– Provided 1 to 1 support to over 450 new businesses– Helped 180 businesses to start trading – Created 40 additional jobs

The Programme Overview

Startup Loans

• Government Supported Programme• Founded by Lord Young • Chaired by James Caan• Fund pot of £117.7M available March 2015• To date - £47.7M Investment granted to over 9,600 Businesses• Age cap of 30 was lifted in October and now available to

businesses in Wales and Northern Ireland• 6% APR and up to £10K (up to £20K for exceptional ideas)• Pre and New Starts (up to 12 months trading)

SWIG Start-Ups

• South West Delivery Partner for the Start-up Loans Scheme

• Business West is their business support delivery partner• Over £2M available (over 300+ loans) by March 2014• Pre-Start Up and New Businesses (up to 12 months trading)• 10K loans available on application (business plan required)• As of 1st October 2013 a PILOT PARTNER for the Over 30’s

delivery of this loan fund!• Access to other fund pots through their parent group “South

West Investment Group” (SWIG).

Virgin Startup

• Launched 24th October 2013• National Delivery Partner to Startup

Loans Company • Business West are their business support delivery partner for

the south west• Over £2M available (over 300+ loans) by March 2014• Pre-Start Up and New Businesses (up to 12 months trading)• Loans up to £25K available (business plan required)• Virgin Companies including: Virgin Media, Virgin Trains and

Virgin Atlantic will be offering support to clients going through this programme

Non start-up Business Finance/Funding

• Traditional Banks• We have links with the top banks and an understanding of

their lending requirements• South West Investment Group Services (SWIG)• South West Loans Fund• Microcredit Fund

• South West Angel Investment Network (SWAIN)• Equity Finance

• Crowd Funding

Contact

T. 01275 376 233E. [email protected]. www.businesswest.co.uk/startup

• For more information contact Business West’s Business Startup Support Team