Wednesday, November 8, 2017

News: Y-Accelerator returns

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An intensive start up programme developed by RiDO in Rotherham is returning to support individuals, teams and companies looking to get a new business idea off the ground.

Up to ten individuals, teams or companies in the Sheffield city region are to benefit from the Y-Accelerator business support programme and the chance to win £25,000 investment from UK Steel Enterprise (UKSE), to kick start the business idea with the most potential for growth.

UKSE is a subsidiary of Tata Steel established in 1975 to provide financial support to small to medium sized businesses in areas affected by challenges within the steel industry.

First run in 2015, Y-Accelerator is a collaboration between private and public sector organisations – including UKSE, the Sheffield City Region (SCR) Growth Hub, the University of Sheffield, Sheffield Hallam University, RiDO and Gripple Ltd – 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 SCR Growth Hub portal until November 30, the programme is "welcoming business ideas from anyone with aspirations and an innovative business idea" – with the ten successful applicants then given the opportunity to undergo three months of intensive business training.

At the end of the process each entrepreneur will be invited to pitch to an audience of investors to be in with the chance to secure investment of up to £25,000 from UK Steel Enterprise, enabling them to take their business to the next stage.

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Mihaela Gruia, founder of Research Retold - last year's Y-Accelerator winner - said: "I found the Y-Accelerator to be an extremely useful experience because it gave me focus and dedicated space and time to work on developing the business.

"The Y-Accelerator team were particularly helpful for brainstorming, critique, encouragement and developing my growth strategy."

Keith Williams of UKSE added: "The Y Accelerator is a great programme and we encourage anyone with an innovative idea and the aspiration to build a high-growth business to get involved.

"Offering tailored sessions to meet the needs of every candidate, the advice from our business mentors gives entrepreneurs the chance to take their business idea to the next level."

Ten successful applicants will be chosen to go through to the Y-Accelerator programme and will be invited to an initial meeting held in December 2017. Successful applicants will commence the Y-Accelerator programme in January 2018.

Interested entrepreneurs should contact RiDO for more information.

RiDO website
SCR Growth Hub website

Images: UKSE

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