Nov 5, 2018
Ignite Accelerator applications are Open! 🚀
tl;dr We’ve opened applications to the 2019 Ignite accelerator. They close Friday 7th Dec. It’s a 6 month remote programme for MVP-stage technology companies (which are required to be based or have a significant presence in the North East of England*). You’ll get £25,000, join the Founders Co-op, receive £100,000+ in programme perks from our partners (who include Amazon, Stripe, Revolut and many more) and join a global family of entrepreneurs, investors and mentors. Want to chat? Scroll for our details. Otherwise, apply today!
We’re a month into the fourth Ignite programme of 2018.
In September, Gabriela and I wrapped the first cohort of the ‘Ignite 2.0’ remote accelerator model — where we invested in and supported 12 startups from around the UK. Across the wider Ignite team, Peter , Kate and Tristan led our Ignite NI programmes, delivering Propel and the main Ignite NI accelerator in Belfast.
Gabi and I are currently based out of TUSPark in Newcastle, working with 20 technology businesses on our new North East pre-accelerator. It’s the first of two programmes that sees us return to Ignite’s spiritual home to support the region’s entrepreneurs and startups. All of the new businesses we’re working with call the North East home (with one even relocating internationally to join us), 40% are female founded and our founders range in age from early 20s through to mid 60s. It’s a great cohort — and we’ll be introducing them very soon.
All-in, Ignite has supported and helped launch/ scale 62 businesses (so far) this year. With a team of 5 🎇
We’ve been busy!
And it’s only going to get busier.
As announced earlier this summer, our Newcastle pre-accelerator was designed to help build companies we could take onto the main accelerator programme. But we’re also opening applications to external companies too.
As of today, the applications for our 2019 remote accelerator are now open 👏. Applications close Friday 7th Dec.
What is it?
A funded, 6 month remote accelerator for MVP-stage founders or teams, looking to scale their business and potentially raise further investment.
Who’s it for?
We’d love you to apply if you are a founding team of two or more, working full-time on your technology startup, and need help scaling and potentially raising further investment. You’ll also either need to be based, have a significant presence or be willing to relocate to the North East to qualify (more 👇).
We are looking for entrepreneurs who want to solve (or already solving) real-world problems with innovative technology-led ideas. Tapping into the North East’s world-class expertise in both data and ageing, we are especially keen to talk to founders looking to work on ageing-related or data-driven issues.
What’s the deal?
The accelerator is a 6 month remote programme that features £25,000 net (equity) investment from seed-stage VC funds Northstar Ventures and ADV. The investment is in exchange of 6% equity (5% to the investors and 1% to the Founders Co-operative — more on that later). You’ll also get £100,000+ in programme perks from our partners (who include Amazon, Stripe, Revolut and many more) and access to our global network of founders, investors and mentors.
The total investment is actually £40,000, of which £15,000 covers the cost of the programme — so each company ends up with £25,000 to spend. For those of you who are doing the maths, this means that we’re buying 5% for £40,000 — which is a post-money valuation of £800,000.
The Founders Co-op
If you missed the news when we launched Ignite 2.0, the Founders Co-op exemplifies what we think is our biggest asset: the Ignite alumni network or, as they’re affectionately known as, the Ignite family.
Each company on the programme will donate 1% of their business into a shared equity pool that is split between all the founders on the programme. This means every founder we back on the programme gets a stake in every startup we back.
How does a remote programme work?
We’ll work with you remotely for three weeks of every month, delivering our Startup MBA course digitally alongside our programme mentors and partners. The fourth week is an in-person event held in cities across the North East (with one held in London) alongside the Ignite portfolio, our programme team, mentors and partners.
Over the course of the 6 months, we’ll help you scale your business, define your routes to market, get you closer to product/ market fit and help you build your network(s).
How do I qualify and apply?
*To qualify for the programme, each founder/ team must have a UK LTD company (with a UK business bank account) with less than 250 employees and balance sheet total <€43 million and/or turnover <€50 million. You must also be based/ have a material presence in the North East (County Durham, Northumberland and Tyne and Wear).
Apply here. Good luck! You have until Friday 7th Dec.
For more information, please contact the Ignite programme team:
Gabriela Matic — gabi@ignite.io | linkedin.com/in/gabrielamatic
Wil Benton — wil@ignite.io | linkedin.com/in/fatkidonfire
