Why should we join ignite100?
ignite100 is one of Europe's top accelerator programmes, and offers a unique opportunity to turbocharge your startup by working with accomplished mentors and experts in a dedicated business environment. In short, ignite100 gives you the best chance to explore and realise the potential of your start-up.
How much funding do ignite100 companies receive?
It’s a straightforward deal. Each team will receive £5,000 per founder (to a maximum of £15,000) for which we will accept 8% of founder shares per startup (not per founder). We do not have any strange terms and conditions and we align ourselves entirely with the other founders of the business – effectively becoming a co-founder of the business. In addition, we provide you with office space and other services from various partners including hosting, legal and professional services etc. Subject to the teams achieving pre-agreed milestones, the balance of the £100,000 will be released in the form of a convertible loan with a discount of 20% against the next funding round. Teams are not obliged to accept the loan note at the end of the programme, although teams that do accept must retain a material presence in North East England for a minimum of 12 months. We're happy to chat about what this means and answer any questions you have.
What type of startups do you accept?
We’re focused on technology businesses and while most successful applicants will be based on exploiting the web we will also consider start-ups with a hardware element. But, to be clear, our sweet spot is web-based disruptive technologies that are not capital intensive.
Is my startup too early (or late) stage to apply to ignite100?
Not at all. We will accept start-ups at a very early stage. Equally, we believe that ignite100 can provide substantial value to later stage businesses as well.
Can I apply if I’m not from the UK?
Yes. Anyone can apply to ignite100 from within the EU and beyond, as long as you and your team can work in the UK legally for the duration of the programme. Teams that meet the pre-agreed milestones and receive follow on funding from the programme funders will be eligible for a full Entrepreneur Visa.
Where is ignite100 based and what’s it like?
ignite100 is based in Newcastle upon Tyne in North East England. It's a brilliant, colourful city; lively, diverse, cosmopolitan and with exceptional universities. It also has a very active developer and designer community, hosts dozens of meetups and conferences every month, and the startup scene is one of the strongest in the country. Read more about what's happening on Betarocket, which covers startup and tech news in the region, or Tech Diary.
When is the deadline to apply and what’s the overall timeline?
Applications are now open and will close on Sunday 30th June at 2359 PST. Initial interviews will take place in early July; final interviews and confirmation to teams of a place on the programme will occur w/c 22nd July. The programme will run for 14 weeks from Monday 2nd September.
Do I need to send in a business plan?
Absolutely not, life is too short. You just need to complete a short application form.
Where will we live while we’re there?
We work with local landlords to ensure that basic and affordable accommodation is available to all teams. We strongly encourage teams to live together - it further strengthens the collaborative spirit of the programme.
Will you accept single founder teams? What about non-developers?
The ignite100 programme is incredibly intensive so we usually consider teams over single founders - we actively encourage you to find somebody to join your team who shares your vision. Also, it's unlikely we'll consider your application unless a developer is part of your team. All teams need to have the ability to code and build.