Deadline: 10-Jan-23
The Techstart is now accepting applications for its Female Founders Grant Competition.
Techstart Ventures and Women in Business are excited to partner together to invite Females across Northern Ireland, with an innovative Business Idea, to apply for a Grant of up to £35k to help kickstart their Business.
Whether you are an individual with an exciting, novel idea … or an established business looking to explore a new product or market … you could receive a grant to support your innovation.
What’s the overall objective?
- This Female Founders Funding Opportunity will seek to support female entrepreneurs with a grant and business mentoring support directed towards exploring the viability and commercial potential of their innovative business idea.
Funding Information
- Applicants can apply for a grant of up to £35k.
What activities are Eligible within the Grant?
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Eligible activities for support include but are not limited to:
- Concept/Prototype Development – i.e. Costs directed towards designing and developing either a software or hardware based product such as UI/UX, platform development, building a web/mobile application, producing an MVP or construction/manufacturing work.
- Market Research – i.e. Activities around further understanding and sizing of the addressable market, such as Focus Groups, Domain Expert Consultancy and/or Attendance to relevant Trade Shows.
- Market Validation – i.e. Costs associated with testing the concept with potential customers and end-users.
- Market Testing Activities – i.e. Expenditure incurred in testing the best way to take the product to market.
- Assessment of uniqueness of IP – i.e. A patent search.
- Employment costs where a clear output will be delivered – If the Applicant has the expertise to carry out some of the activities they may do so as long as it falls within the 30% limit previously explained.
What activities are Not Eligible within the Grant?
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Non-eligible activities include but are not limited to:
- Costs of Company Registration/legal incorporation.
- IP Protection costs including trademarks.
- Product Development activities beyond the core product – (i.e. costs directed towards product refinement).
- Marketing and costs of selling.
- Costs incurred before the award of the grant and outside of the agreed project timeframe.
- VAT – if you are VAT registered.
- Costs not directly connected with the project.
- Tablets, laptops or similar equipment.
- Trading stock/stock for resale.
- Administration time, project management time and similar overhead activities will not be eligible employment cost activities; and
- Subsistence (including food, taxis, mileage).
Eligibility Criteria
- Based in Northern Ireland?
- Have an innovative Business Idea?
- Looking to kick start your idea and could use some Grant Funding and Business Support?
- Then don’t miss out on this Female Founders Funding Opportunity!
Criteria
- Applicants must be a Sole Trader, Partnership or Limited Company to apply. Applications from Community Interest Companies and Social Enterprises will not be considered.
- You (i.e. Sole Trader, Partnership, Limited Company) must have an innovative business idea.
- You must be resident in Northern Ireland, and if the principal applicant is applying through a Limited Company then the Company must be registered in Northern Ireland, with the principal applicant being the majority shareholder in the Limited Company. (Please note that Techstart may ask for a copy of a recent utility bill for proof of address)
- If you are applying for some of the grant to cover the employment costs of people promoting the project, then the application must be made by a Limited Company.
- For independent third-party costs, at application stage you must identify your proposed supplier. If your proposed supplier has provided you with a quotation, you should append to your application.
- Successful applicants will be required to provide formal quotations from the proposed Suppliers in advance of a Letter of Offer being issued.
- Up to 30% of the grant awarded is available to cover the employment costs of the people promoting the project with a set daily rate of £200. For such costs to be approved, your application must clearly detail what work will be done during the PoC project under these costs and what the output will be. Please note that Administration Time, Project Management Time and similar Overhead activities will not be eligible activities to be covered within employment costs.
For more information, visit Techstart.
