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UKSE Y-Accelerator

posted 2 Jun 2016, 07:00 by RiDO Rotherham   [ updated 2 Jun 2016, 07:01 ]
Entrepreneurs from across South Yorkshire are being invited to apply to take part in a new start-up programme dedicated to supporting individuals, teams or companies looking to get a new business idea off the ground.

The UKSE Y-Accelerator, launched by Y-Accelerator and UK Steel Enterprise and funded by the newly established Sheffield City Region Growth Hub, will provide 10 successful candidates access to free-of-charge business advice and development, as well as the opportunity to pitch for a £25k equity investment to kick-start their concept.

Further support for the initiative comes from Y-Accelerator, the Yorkshire based start-up accelerator, Rotherham Investment & Development Office (RiDO), the University of Sheffield, Sheffield Hallam University, business consultancy TRoom, and law firm Freeths and forms part of the SCR Economic Plan working to develop a strong start up eco system across the region.

Officially open to applicants through the Sheffield City Region (SCR) Growth Hub portal until June 30th the programme is welcoming business ideas from ‘anyone with aspirations and an innovative business idea’ – with the 10 successful applicants then given the opportunity to undergo 3-month intensive training, led by Y-Accelerator.

At the end of the process each entrepreneur will be invited to pitch to an audience of seed investors and be in with the chance to win an investment of up to £25,000 from UK Steel Enterprise, enabling them to get their idea off the ground.

Keith Williams from UK Steel Enterprise, a subsidiary of Tata Steel established in 1975 to help small to medium sized businesses in areas affected by challenges within the steel industry, said: “This is a unique initiative that brings together various forms of support to create an intensive incubator for entrepreneurs with start-up ideas.  The process will help validate ideas, develop strong business models and provide people with the tools and skills to launch new businesses.

“Successful applicants will be able to demonstrate that their concepts are not only viable in today’s market, but that there is potential for growth and expansion.

“We’re delighted to be able to support the programme, providing the £25,000 investment fund, and we’re very much looking forward to seeing what business ideas are submitted and meeting the individuals, teams and businesses behind them.”

UK Steel Enterprise provides investment finance of up to £1m for existing companies with the potential to create jobs.

The newly launched SCR Growth Hub, aims to be the single point of contact for all business support across the Sheffield City Region. Its experienced teams can best advise and signpost to the most appropriate support for businesses in a range of areas including exporting, innovation, finance and training.

As well as the Y-Accelerator for would-be entrepreneurs, the Growth Hub offers a service for start-ups called Launchpad, which includes workshops and mentoring.

Amanda from Y Accelerator said: We are very excited about the launch of the Y-Accelerator, it’s a fantastic opportunity for people across the Sheffield City Region to gain valuable business experience, advice and potentially a financial investment. We are extremely grateful for the support provided from both UK Steel Enterprise and SCR Growth Hub”.

David Grimes, of SCR Growth Hub, said: “Y-Accelerator is a great way to encourage would-be entrepreneurs to start up a business. These entrepreneurs will become the employers and wealth generators of the future. Projects like this show that the public and private sector working together is the way to make our region stronger.”

Applications for the Y-Accelerator can be submitted through the new growth hub website and will close on 30th June and successful applicants will take part in the programme throughout September to November.