Up to £15,000 available under F100 Growth Fund in UK

Deadline: 23-Jun-23

Applications are now open for the F100 Growth Fund that provides investment to businesses that have a readiness to grow, 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 programme 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 programme’s focus on economic empowerment and equity of opportunity will reduce inequality and enable ambitious Black entrepreneurs to thrive and succeed.

This programme, supporting the development of Black-owned and led businesses in the UK, recognises that economic prosperity and wealth creation is at the heart of Black equity.

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 F100 or from other investors.
• Policy changes and wider systemic impact: Codification of F100 leading to more, similar programmes and partnerships with corporates, and ultimately wider policy and systemic changes in the UK entrepreneurship landscape.

What F100 will offer

• F100 will:
  • Offer funding of up to £15,000 and 12-months free Sky Business broadband and phone package for the most innovative business.
  • 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 programme of workshops and insights days with Sky executives and other market-leading experts.
  • Work with a network of mentors and community organisations to advise and assist new enterprises.
  • Support Black founders and entrepreneurs with relevant knowledge and skills, as well as opportunities to meet prospective partners and funders.

Eligibility Criteria

• The programme is open to applicants over 18 years old of Black African, Black Caribbean, Black British and/or Mixed-race descent. You will need to be a UK resident.
• Whether you want to refine your business strategy, expand your network of support, or secure capital to accelerate its growth and development, the F100 Growth Fund can help.

Application Criteria

• For businesses
  • So that you can benefit from this fantastic opportunity, they are interested in hearing from businesses and start-ups who are the right stage to maximise this programme. Your business will need to:
    • Be a UK-registered company.
    • Be a B2B or B2C business.
    • Have a website and/or social media profile.
    • Demonstrates a willingness to leverage technology.
    • Ready to scale – you have already received some investment (from family, friends, or other sources)
    • Launched your MVP (minimum viable product)
    • Generating a minimum of £5000 in revenue (annual) or
    • Must have at least two pilot testing companies or
    • Have raised at least £1,000 in funding.
• For founders
  • As a founder, you will need to:
    • Be over 18 and a UK resident. Theyare 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 51% of the company and have a sector-specific business and industry knowledge.
    • Be able to commit to a 12-week hybrid programme of strategy workshops, insight day events, networking evenings, and other events.

For more information, visit Black Equity Organisation.