Future 100 Growth Fund in the UK

Deadline: 20-Aug-22

The Black Equity Organisation is seeking applications for the Future 100 Growth Fund to launch and grow their own businesses in the UK.

Future 100 provides investment and access to supply chains, backed up by expert business advice, coaching and mentoring, to break down the significant barriers faced by Black British entrepreneurs when setting up and growing their businesses.

The program will also create a vital and tight-knit cohort of Black British entrepreneurs, with valuable, regular opportunities to network and share experiences, successes and challenges.

This flagship program’s focus on economic empowerment and equity of opportunity will reduce inequality and enable young Black entrepreneurs to thrive and succeed.

Goals

• Increased and improved access to finance : More Black founders confidently scaling and diversifying their businesses.
• Business growth: More jobs created, more Black businesses succeeding.
• Female founders boost : Equity and better representation of Black female founders, reflected in an increase in women entrepreneurs participating and accessing finance through Future 100 or from other investors.
• Supply chain involvement: Increased participation of Black-owned SMEs within Sky’s supply chain and the wider economy.
• Policy changes and wider systemic impact: Codification of Future 100 leading to more, similar programs and partnerships with corporates, and ultimately wider policy and systemic changes in the UK entrepreneurship landscape.

What Future 100 Will Offer?

Future 100 will:

• Offer funding of up to £15,000 for the most innovative new business ideas and exciting existing companies.
• Provide access for Black entrepreneurs to supply chains, connections and insights from a global business. Sky is actively diversifying its supply chains to create greater opportunities for Black businesses.
• Offer tailored 12-week program of workshops and insights days with Sky executives and other market-leading experts
• Work with a network of mentors and community organizations to advise and assist new enterprises through direct financial support and products nurturing talent and innovation.
• Support Black founders and entrepreneurs with relevant knowledge and skills, as well as opportunities to meet influential people, prospective partners and funders.
• Generate much-needed research and data around what works in overcoming barriers faced by Black British entrepreneurs. Real examples of successes and challenges from Future 100 will be widely shared, encouraging investment by other corporates in future programs.

Eligibility Criteria

• The program is open to applicants between 18 and 30 years old of Black African, Black Caribbean, Black British and/or Mixed-race descent. You will need to be a UK resident.
• Whether you have been working on an idea in your spare time, have a small side-hustle that is taking off or have the beginnings of a thriving business, the Future 100 Growth Fund can help.
• For businesses
  • They are interested in hearing from businesses with ideas, start-ups and businesses with a high potential for growth, acceleration and scalability. Your business will need to be:
    • UK registered
    • Data – or technology-driven and if available, have a MVP (minimum viable product)
    • Ready to scale – you may have already had some investment (from family , friends or other sources).
• Founder
  • As a founder you will need to:
    • Be aged between 18 and 30 and a UK resident. They are particularly interested in supporting female Black founders.
    • Be of Black African, Black Caribbean, Black British and/or Mixed-race descent (at least one founder of a business must be of Black ethnic descent).
    • Own at least 10% of the company and have sector-specific business and industry knowledge.
    • Be able to commit to a 12-week hybrid program of strategy workshops, insight day events, networking evenings and other events.
    • They are particularly interested in hearing from applicants from the digital marketing, creative, media and technology, sports technology, professional services, entertainment, logistics, education, health and lifestyle, FinTech and Internet of Things sectors.

For more information, visit https://blackequityorg.com/future-100-growth-fund/