And one topic that’s constantly on entrepreneurs’ minds is funding. It is something we are asked about a lot.
Developing a great business takes commitment, diligence, patience and in most cases, a good deal of money. Navigating the tricky waters of patenting your IP, and establishing your market can be expensive and finding and securing the financial resources that will allow you to focus on business growth is critical.
That is why we are delighted to work with Quick Start Consulting. We met as part of the Kickstarter programme and were referred to Hannah and her team.
Along with the other 84,757, Quick Start (QS) Consulting was also founded at the start of 2020 and is on a mission to help start-ups and early-growth stage businesses raise capital without having to give up their equity, or move too quickly for VC or Angel investment. They have significant experience of navigating the grant funding ecosystem and can effectively fill the skills gap so often found in start-ups of how to find and convert equity-free fundraising to accelerate early-stage R&D.
They specialise in helping SME businesses in the innovation, technology, sustainability, health and engineering sectors grow. They are good too, with a recent 96% success rate in Q4 of 2020. Their average grant funds come in at around £300,000 for a 12 month funding period. So whether it is a funding stream, a consortium of backers or growth partners your business needs, they can deliver a solution.
With more than 250 grants available, which change almost every week, ranging from £100,000 to £2.5m part of what QS offers is a level of upfront labour-intensive wrap around support upfront to get your project funded. They specialise in open brief funds which are for any innovation in any sector and give tailored advice on closed-brief, industry-specific grants, meaning they target their approach to find the funds designed specifically for your industry. They can spot the low hanging fruit and this level of due diligence means they can advise business owners accurately of their suitability for grants.
They work with clients across the UK, Europe and the US, matching clients with government funding, trusts and foundations, European funding, NIHR, accelerators and ITTs. If you have a new App, a design for new type of electric vehicle or medical device, then Quick Start Consulting are particularly interested in technology that disrupts industry, creates a new paradigm for thinking, prioritises sustainability or accelerates environmental innovation.
Does this sound like your business idea for 2021?
Of course, having a letter of intent from a retailer or manufacturer to validate your business idea is a wonderful position to be in. At Cypher, we work with a number of innovative businesses in the Oxfordshire area, but if you have a patent or an innovation that is protectable, or a product that is technically disruptive or unique, or you have great experience within the sector you are trying to penetrate, then Quick Start Consulting could be a great introduction for you.