BID (Bright Ideas Den) is your chance to pitch for up to £1,000 to kick-start your bright idea. So, if you have an early-stage business or freelance idea you would like to try out whilst you study or have decided to set up a business or go freelance after graduating, BID funding and the friendly expert panel feedback could be just what you need.
BID runs once per term and it’s your chance to introduce yourself, your idea and what you need to get going, whether that is training, equipment, materials or buying in skills. The funding is available to current University of South Wales students and graduates of up to 3 years.
What will I need to do?
BID takes place in November, March and July each year – Register your interest to be kept informed of latest dates. Then when applications open, (a few weeks prior) complete the short application to be in with a chance of being shortlisted.
Applications for the next BID will open on the 8th of October, 2021.
If you are successful you will be given a 20 minute time slot – 10 minutes to tell the panel about your idea and 10 minutes for questions. If you are shortlisted you will be given further instruction on the set up for the day, and a series of tips and considerations.
The panel want to know about you and your idea – you can do that however you want, whether that’s by pulling up a chair - or delivering a short pitch using PowerPoint. We encourage you to share samples, photos, videos etc that will help explain and bring your idea to life. The best pitches are visual and informative! Due to Covid, BID is currently taking place online, with a view to moving face to face later in the academic year.
"This funding is allowing me to take the City & Guilds 2382-18 course which is a requirement to be a qualified spark.
I am so grateful as I couldn't have afforded the course and training without it. I really appreciate the feedback on my pitch and confidence in me that was shown by the judges."
- Rhiannon Pallister, BA Film
"This funding will allow me to replace my two outdated and inconvenient cameras and lenses for a high-end fit for purpose silent mirrorless camera and a brilliant versatile lens, with room to expand on this system in the future with upgrades and lenses.
I would like to say thank you to the judges for awarding the Bright Ideas Den fund, and to Jonny from Student Enterprise for helping me with my application and advice for my freelance career."
- Thomas Geoffroy, BA (Hons) Photography
"We applied for this funding for qualifications in HACCP (Hazard Analysis and Critical Control Point) and Food Safety. This is a massive hurdle for us to overcome and will mean that our business is one step closer towards launching in 2021!
We would both like to thank the Enterprise team for the support during lockdown, including the Freelance Fast Track course, and encouragement to apply for the BID grant."
- Kate Davey, BA Fashion Marketing & Retail Design
Have a BIG or Small idea you would like to explore and test? For a limited time only, we have test trade funding pots of £250 to help you get going.
• Students undertaking an Enterprise Placement
• Students and graduates who have attended a Student Enterprise 1-2-1 appointment
• Students and graduates who have attended a Summer Start-up Week, Freelance Fast Track or How to Freelance workshop.
• Enactus USW current or past team member
• Marketing costs
• Trading and material costs
• Software/Media costs
Complete the application form here (Coming Soon) explaining your business idea and how you propose to spend the funding.
Specifically for Class of 2021 graduates, this fund is to support graduate entrepreneurship, through providing financial support for graduates to start and grow a new business idea.
A maximum award up to £4,000 will be available for exceptional applications, alongside smaller awards of between £1,000 and £2,000.
• You have a viable new business idea that is ready to start trading within 6 months of receiving funding. Alternatively, you need to have already started trading but are within the first 6 months of first trading
• You are a 'Class of 2021' graduate. This includes those who passed Assessment Board up to start of 1 March 2022.
Application is online with the submission of an Executive Summary Business Plan (maximum of 3 pages), which should be based on the nine elements of the 'Business Model Canvas', but you are free to write this up in any format. (Guidance is available here)
Shortlisted applications will then take part in a pitching competition.
For further information and application dates please contact the Start-up Stiwdio
There are a number of ways you can secure funding for your business idea including loans, investors, pitching competitions and crowdfunding.
Business Wales has a comprehensive list of funding options available to those starting a business in Wales including the Development Bank of Wales, the types of funding available and a Finance Locator tool.
There are also a number of competitions available where £1,000 to £15,000 is up for grabs.