Startup Loans - we look at three ‘success’ stories
by Startacus Admin
By providing around £4,500 per loan, the Startup Loans Scheme, has provided 2000 young English Entrepreneurs with the cash injection that they need to start ‘that business’. Combine that with the right mentoring and support programme and it is understandable why this government led scheme is building in popularity at present.
One delivery partner for the Startup Loans scheme is the Doug Richard led School For Startups’ Launcher programme which combines government-backed startup business finance from the Start-Up Loans Company, with access to a School for Startups one-day bootcamp, online community and mentoring at no extra cost.
With this in mind we set out to find out a little more about three Startup Loan success stories which have all been delivered by Doug Richard’s School for Startups and why a mentoring programme alongside the startup loan itself can help.
Samuel and Rachel Selwyn are a brother and sister team who lead a business called Stump Doctor. Aged only 20 and 19 and with respective backgrounds in Arboriculture they identified a gap in the services currently provided in the sector which as a team they felt that they could fill. Having been previously sceptical about applying for financial support to start their business, the Startup Loan has acted as a catalyst for them to realise their business idea. Now, having been introduced to the Launcher programme they will be attending workshops and a bootcamp to help them develop the business further.
We also heard about Tom Raffe, Founder of Screenburn, a Video on Demand (VoD) Facebook platform that allows users to sell their video content (films, music, television, comedy and sport) from their official page. It monetizes an already existing audience and increases the distribution potential of independently produced films.
In an industry where contacts can be just as valuable as cash, it is interesting to note that Tom highlights the benefits that the scheme offers from both a financial perspective as well as from a networking point of view. Again, Tom turned to Startup Loans in order to seek financial support for Screenburn, after being turned down for traditional bank loans and finding it difficult to get that critical initial funding.
Tom had initially spoken to Doug Richard, Founder of School for Startup at a networking event and by keeping in touch via email was ready to apply for the loan when the scheme launched. Tom believes that all young entrepreneurs should take advantage of the networking and funding services available – “go to events and get chatting.”
What began as a chat with Doug Richard at a networking event, eventually led to Tom embarking on the launcher programme itself - a programme which Tom is extremely positive about in his feedback: - “School for Startups supports young people with a concept and something to prove.”
A big congratulations then to Samuel, Rachel, and Tom! We look forward to hearing more about their business successes over the coming years. For those of you that are considering applying for the Startup Loans Scheme, it would also be worth taking a look at the School for Startup Launcher programme, especially if you too could benefit from the great mentoring and support that it offers.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Sedna is team communication software that unifies all messages, data, and documentation to help you focus on the work that matters
Crowdfunding success for HUN which will help it increase distribution across the UK, expand into new global territories and develop new products
.jpeg)
Even if you're doing it all yourself for now, here is an overview of the key operational areas that your business ought to have
Medtech company Manus raises £1.2m to help with the roll-out of its NeuroMotor pen designed for use in the diagnosis and monitoring of neuromotor impairments
BondAval secures $1.64 Million Pre-Seed funding to help accelerate its product roll-out, further develop its machine-learning technology and expand its team
.jpeg)
Ensuring that employees feel like they're valued is vital for all businesses - here are some basic tips on how you can ensure that you do just that
By Bits enables insurance firms to transform customer experience and meet the growing demand for usage-based insurance
The lowdown on Housemates, the Manchester-based startup that's on a mission to make securing student accommodation easier than ever before
Proximie is a platform that uses artificial intelligence, machine learning and augmented reality to enable clinicians to collaborate virtually
New research from Corporate Coach Group reveals the UK's most ambitious cities and includes top tips on how to make 2021 your best year ever when it comes to achieving your goals
Published on: 27th March 2013
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Manus secures funding to support launch of its Parkinson's Pen 26th Jan 2021 Medtech company Manus raises £1.2m to help with the roll-out of its NeuroMotor pen designed for use in the diagnosis and monitoring of neuromotor impairments
- B2B insurtech BondAval secures major funding 26th Jan 2021 BondAval secures $1.64 Million Pre-Seed funding to help accelerate its product roll-out, further develop its machine-learning technology and expand its team
- Where are the UK’s most ambitious people in 2021? 21st Jan 2021 New research from Corporate Coach Group reveals the UK's most ambitious cities and includes top tips on how to make 2021 your best year ever when it comes to achieving your goals
- No-Code Chatbot Builder Landbot Secures $8M Series A 20th Jan 2021 The innovative Spanish startup raises major funding to scale its team and help more businesses design smarter automated conversations with customers
