Thursday, June 30, 2016

News: £25k prize in enterprise competition

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A £25k investment prize is up for grabs in a Sheffield city region enterprise initiative that also includes a three-month intensive business support programme.

The UKSE Y-Accelerator, launched by Y-Accelerator and UK Steel Enterprise and funded by the newly established Sheffield City Region Growth Hub, is welcoming business ideas from "anyone with aspirations and an innovative business idea."

Open to anyone in the region, with no restrictions on sector, applications can be submitted through the newly launched SCR Growth Hub website, with a deadline of today - June 30.

Ten lucky applicants will then be chosen to undergo three months of intensive training; developing their idea to prepare for the final stage – a pitch to a panel of seed investors, going head to head to win the £25k investment prize including expert advice, market research and tailored 1-to-1 support.

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.

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The competition ran last year in Rotherham and saw five companies come to the region following a successful trade mission. After receiving initial support from the South Korean Government, they were housed in one of Rotherham's four enterprise centres run by RiDO, the Council's regeneration arm. Ultimate Drone was the big winner of the Y-Accelerator programme, picking up a £30,000 investment to support the commercialisation of a new generation of drone.

Keith Williams from UK Steel Enterprise said: "The Y-Accelerator is a fantastic idea and we are really pleased to be able to offer a £25k investment to the eventual winner and to be able to join them on their start-up journey."

David Grimes, Head of the SCR Growth Hub, added: "We want to encourage people with great ideas to start businesses, and Y-Accelerator is one way of doing that. Successful new businesses are vital to a successful city region."

SCR Growth Hub website

Images: SCR Growth Hub

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