Deadline: 05-Mar-23
Do you have a clear and compelling idea for an ethical digital business? Are you interested in setting it up as a co‑operative? Then they’d love to hear from you!
The UnFound Accelerator is a business support programme for founders at the early stage of setting up their platform co‑op. The Co-operative Bank is offering the chance to help turn ideas for an ethical digital business into a successful platform co‑op – owned and run by the people that depend on it most. Platform co‑ops are democratically owned and controlled businesses that use an online platform or mobile app to trade, connect people and pool resources or data. A platform co‑op is built on co‑operative principles and values which ensure the business:
- Truly responds to the needs of its community
- Embeds equity and social purpose from day one
- Is not controlled by external profit‑driven investors
Areas
The UnFound Accelerator will provide a mix of expert guidance and development support across four interconnected business areas:
- Co-operative structures and ways of working
- Product development
- Business planning and strategy
- Brand and marketing
Benefits
- Participants will:
- Receive guidance on how to set-up their business through weekly expert-led workshops and tailored one-to-one sessions
- Share the journey with other platform co‑op founders
- Showcase their business idea at a public pitch event with the chance to win a share of a £10,000 prize fund, provided by The Co-operative Bank
- All teams can access free business banking from The Co-operative Bank.
- The best performing teams will be awarded an aftercare package composed of:
- Free registration fee for co-ops that incorporate within the calendar year
- A case-study page on Co-operatives UK’s website
- Visibility through Co-operatives UK’s media channels
- During the year teams will also be offered the following optional activities:
- 9 hours of one-to-one per team with up to three different experts on specific topics or other platform co-op founders
- Fortnightly check-ins: A regular call with the UnFound programme manager to discuss the team’s specific challenges and provide guidance
What participants leave with?
- Expert guidance on the articles (or rules) to use to incorporate as a co-operative business
- A pitch presenting their business case and brand
- A business plan and a defined funding runway
- A marketing plan for the first steps of their fundraising journey
- A tested prototype and a roadmap to develop their platform
Eligibility Criteria
- A minimum of one member from each participating team must be able to attend each Masterclass
- In order to be able to apply for the UnFound Accelerator you must meet the following criteria:
- You intend to incorporate your platform co-operative in the UK
- You are a team of at least two members
- At least one member is resident in the UK
- All team members participating in the Accelerator are 18 or older
For more information, visit Co-operative UK.