South Yorkshire tech startups are being offered support to validate their new early-stage ideas through a new incentive programme launched to boost the region’s tech startups.
The support comes from the South Yorkshire Mayoral Combined Authority funded TECH SY project, which is offering either financial grants or support from a specialist consultancy to promising startups in South Yorkshire as part of the wider aim to help scale up our tech eco-system.
The Idea Validation Grant provides up to £2,500 of direct financial support, OR up to £5,000 worth of idea validation support. This new programme aims to provide financial assistance and mentoring to help companies validate business ideas, ensuring their feasibility and potential for success, before they embark on significant product development.
Image credit: TECH SY
Businesses will be able to use the funding for activities such as market research and prototyping. Alternatively, recipients can receive mentoring via a partnership with experienced founders from Trove Ventures, as well as access to a network of industry experts across the region.
Since its launch last year, TECH SY has been analysing data on the startup ecosystem in the region and working with industry leaders and stakeholders to develop pilot programmes that help grow the local digital economy. The programme aims to kickstart the next evolution of tech startups in South Yorkshire by empowering entrepreneurs with funding and support to validate their business concepts.
Oliver Coppard, Mayor of South Yorkshire, said: “My job is good growth; building not just a bigger economy, but a better economy, with our businesses at the cutting edge of innovation.”
“I’m delighted we can trial the IVG initiative; grants providing an opportunity to give our backing at an early stage to those innovators, innovations and ideas that show real promise.”
“We’re making a down payment on an exciting future, driving innovation and expanding our economy in South Yorkshire, which I couldn’t be more proud to support.”
Tracey Johnson, Project Director of TECH SY, said: “We hosted the South Yorkshire Tech Summit back in March, where insights from our report showed that access to finance was a barrier to our region’s startups. TECH SY is here to utilise a test-and-learn approach to supporting our region's ecosystem, and this grant and support programme is another way to find out what initiatives work best to stimulate more founders to start their ideas.”
“We’re working with Trove to provide support to founders from founders. They’re two experienced, exited entrepreneurs who can provide incredible value to those who choose to take up their support, and we’re delighted to work with them to gain their insight into what a founder in the region needs.”
Chris Dalrymple, Co-founder of Trove Ventures, said: “We’re honoured to be supporting the next wave of South Yorkshire tech founders through the Idea Validation Grant programme. At Trove, we’ve built, scaled, and exited startups — now we’re excited to use that experience to help others turn good ideas into great businesses. This is a brilliant initiative for the region’s ecosystem, and we’re proud to be part of it.”
Applications must be from early-stage entrepreneurs or small businesses working in tech based in South Yorkshire. Projects should be innovative and have the potential for significant impact.
Applicants must demonstrate a clear plan for how the grant will be used to validate their business idea (if self-validated) OR a business plan to fully identify their customer base (if validated by the provider).
Please click the button below to see our funding and grants page.
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