Funded by Creative England and delivered by the team of entrepreneurs behind Silicon South, the First Bourne accelerator offers digital startups (<2-years) the chance to secure a £75k investment baFunded by Creative England and delivered by the team of entrepreneurs behind Silicon South, the First Bourne accelerator offers digital startups (<2-years) the chance to secure a £75k investment backed up with a 3-month residency in Bournemouth (identified as the UK's fastest growing digital startup economy by Tech Nation's ) where you’ll receive intensive support from a wide range of coaches, mentors and guest speakers.
First Bourne offers a first stage investment of £25k. The two strongest propositions will be eligible for £50k follow on investment, from Creative England, at its discretion, when the programme wraps up with a pitch to investors.
Who’s it for?
First Bourne will offer 8 investments to product-led digital companies. We’re looking for strong digital-based ideas – including app, mobile, data, gamification, internet of things, and software.
We’re really keen on applications which focus on ‘Applied Digital’ - i.e. where digital is being applied into other sectors. That’s not just as a B2B model, but also which provide real innovation to sectors which may not be seen as traditionally digital – like healthcare or financial services etc. Depending on the sector you’re aiming at, we can provide specialist advice, guidance and introductions from mentors working in those industries.
We’re also keen on concepts around 3D modelling and Virtual Reality. We’re not looking to support projects which primarily create content though. We can’t support the creation of films, TV programmes or games development for instance.
As a condition of our funding, companies must be based in England but outside of London. By the time participants receive investment, they must be a registered company based in England outside of the M25 ring.
Investments are offered in two ways: either as an unsecured, interest-free convertible loan, or as an equity investment, which would negotiated with you before joining the programme. Repayment of the loan option is on a profit-related rechargeable basis. As your company starts generating revenues or secure next stage funding you will need to start paying back your investment on a sliding scale. Should your company and your idea fail to gain traction or revenue, the investment is written off.
First Bourne is supported by Creative England, Silicon South, Bournemouth Borough Council, the Regional Growth Fund, Junction Digital. Application deadline 11 July (3.30pm)