An entrepreneurship programme is offering a £10,000 proof of concept funding for high potential startup ideas.
The Co-Founders programme, a partnership between Catalyst and Techstart Ventures, is aimed at helping startups validate their businesses and set them on the path to commercialisation. Teams which take part in the Co-Founders programme will be helped to validate their ideas, test them in the real world and develop their businesses.
They’ll have to go through a competitive pitch process to get onto the programme and are then expected to be awarded the funding from Techstart, which is an investor of seed capital supporting early-stage businesses and also runs a proof of concept grant fund.
“Catalyst and Techstart share a common vision to encourage entrepreneurship and grow the start-up ecosystem, so we’re very excited to be working in unison to support local entrepreneurs who are at the beginning of their journey,” Fiona Bennington, Head of Entrepreneurship and Growth at Catalyst said. “This combined approach, with Catalyst’s team working alongside an experienced investor who has already backed many of the innovative new businesses that were formed through Co-Founders in previous years, creates even greater potential to have a positive impact and nurture more sustainable start-ups in Northern Ireland.”
Since launching in 2017, the programme has delivered eight cohorts involving 611 people who have formed 134 teams. Over a third of the teams formed are continuing to work on their start-up and have raised £3 million in funding.
“We are delighted to have partnered with Catalyst on their Co-Founders programme,” Kathleen Garrett, Head of Proof of Concept Grants at Techstart Ventures, said. “The partnership brings together strong teams, exciting ideas, and grant funding in a supportive environment. This will provide an improved experience for entrepreneurs in Northern Ireland who are at the earliest stage of their journey and help them accelerate. We are excited to see what will emerge from this partnership”
