BEC launches £1.5 million fund-raise to support Midlands start-ups
Birmingham Enterprise Community (BEC) has launched a fund raise that will support the growth of early stage ventures looking for support within the Midlands region by providing direct equity investment as part of the FORWARD Accelerator programme.
FORWARD is a 6-month package of support for early stage ventures to enable growth and support the transition towards scaleup. Startups on FORWARD should have demonstrated early traction, developed (or almost developed) an MVP (minimum viable product) and are working on an idea that is innovative and scaleable.
The fund, which is to be raised through private investment under the Seed Enterprise Investment Scheme (SEIS), will form part of a comprehensive package of support received by the businesses as they join the FORWARD Accelerator Programme, launched in July 2019, which also includes access to a pool of international mentors, support from partners such as IBM, Google and Amazon, workspace (powered by Alpha Works), coaching, access to both local and global networks and support to gain follow on finance.
Businesses are invited to apply to FORWARD immediately with the next programme commencing in April 2020.
Since BEC’s official launch in January 2018, the organisation has become a significant source of support for startups within the Midlands region. The establishment of this fund signifies another step forward for BEC and the businesses that it serves. It also sends out the signal that the Midlands is making serious moves in becoming a place where you can both start and grow your business.
Anyone wishing to know more about opportunities to invest into the fund please get in touch here.
If you are interested in joining the next cohort of FORWARD, you can find more information and how to apply here.