Wayra Fair By Design set to tackle the poverty premium

by Startacus Admin

Wayra Fair By Design is a new acceleration programme that will tackle the poverty premium: where people in poverty pay more for many everyday goods and services – such as energy, insurance, borrowing, transport and food – than those who can more easily afford them.

The programme, which will be based in Wayra’s Open Future_ North facility in Oldham, will support up to seven startups a year.

Startups accepted to the programme will receive the equivalent of £70,000 in cash and business services, including working space at Open Future_ North and access to investors, mentors and coaches – and also potentially to a global audience through business development opportunities with Telefónica.

Through the new programme and accelerator, Wayra UK will support grassroots entrepreneurship in Greater Manchester and attract  startup talent, investment and business mentors from outside of the region.

Wayra Fair by Design will be funded and supported by the Fair By Design Fund, a partnership between Big Society Capital, the Joseph Rowntree Foundation, Finance Birmingham and Ascension Ventures.

The fund has £8 million ready to deploy and is seeking to raise up to £20 million to invest into companies tackling the poverty premium, both within the accelerator and in separate investments across the UK.

Subtle, self promotion. Of course Wayra - if you fancy promoting this or any of your accelerator programmes via Startacus - this is some of the ways we work with accelerator programmes and we reckon we know a good few startups that might be just perfect for this opportunity. :) 

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Published on: 8th July 2017