TrueStart’s accelerator programmes bring together innovative startups in the retail and consumer sectors and works with them to develop and grow their businesses.
As part of the winter programme, which is a four-month campaign running from 2 December, TrueStart will offer either £25,000 for 4.5% equity, £50,000 for 9% or a zero cash deal for 3%, whereby companies receive mentorship and access to TrueStart’s retail network.
Baz Saidieh, CEO of TrueStart, said: “As we open each new programme, the quality of the applicants continues to soar. Our expectations continue to be exceeded with each programme as we witness some truly innovative startups that are primed to disrupt our industry. We are attracting rock-star founders from all sectors that are set to change retail and consumer industries in the years to come.”
The accelerator programmes have grown year-on-year. The summer collection in 2016 attracted over 250 applications from over 40 countries and has seen businesses such as Hullabalook, Quikkly, BeeLine and Induo scale quickly through the support and guidance of the mentors, as well as the opportunities it has enabled through the direct access TrueStart provides to its strategic partners, such as John Lewis, Morrisons and River Island.
Saidieh added: “Our retail network, built up over many years’ in the industry, is what enables us to stand out from the crowd. This door-opening potential to some of the UK – and world’s – most leading retailers and decision makers in the retail and consumer industries provides support, advice and most importantly, scale our startups need.
“It is a game changer, for both the startups, but also the retailers looking for innovation. It is a firm indicator that TrueStart has developed the right formula – industry insight and contacts mixed with world class partners and teams offer young businesses a path to accelerated growth.”
Applications for the Winter Collection opened on 1 September and close at midnight on 16 October 2016.