01-12-2021 at 12am to 1pm
As part of the University of South Wales (USW) Springboard Programme - to support graduate enterprise and employability - Round 3 of funding for our Graduate Startup Fund launches today, as part of our Global Entrepreneurship Week activities.
The Fund has now be expanded to include any graduates from 2019, 2020 and 2021, with the aim of the Fund to support graduate entrepreneurship and to provide financial support for graduates to develop and grow a new business idea.
The maximum award has also changed for this round and has been increased to £5,000 for exceptional applications, with smaller awards likely to be between £1,000 and £3,000.
You have a viable new business idea that is ready to start trading within six months of receiving funding. Alternatively, you are within the first six months of first starting to trade.
Priority will be given to applications from graduate startup companies or freelancers that:
· Demonstrate evidence of an innovative business idea with a proven market/customers
· Demonstrate the likelihood of growth in the near future to create jobs
· Live in Newport or the Gwent Valleys and/or are seeking to be based in the new Startup Stiwdio in our Newport City campus.
· Clearly demonstrate evidence of financial need for the award
Submission of an Executive Summary Business Plan (maximum of 3 pages), which should be based on the '9 elements of the Business Model Canvas’, but you are free to write this up in any format. (See guidance here)
We would also welcome any supporting evidence, such as a prototype of a product or service e.g. sample of film or video footage or concept designs.
Deadline for application and submission of Executive Summary Business Plan is 1pm on Wednesday 1st Dec, 2021.
Shortlisted applications will then take part in a pitching competition.
Pitching competition will take place on Thursday 16th December, 2021. This is likely to be a live pitching competition in Cardiff. Applicants need to be able to attend this day if shortlisted.
The judging panel will be chaired by Professor Dylan Jones-Evans, Assistant Pro-Vice Chancellor for Enterprise at USW, and will include successful Welsh entrepreneurs and a graduate entrepreneur from USW.