Start-up accelerator launches at Rise
AN angel-led accelerator programme has launched its first Manchester programme.
Established in 2011, Ignite has made early stage investment in 75 companies across 11 accelerator programmes including CyLon – Europe’s first cyber security accelerator.
Over 75% of the companies graduating from the programmes raise further investment, with Ignite alumni raising over £11.5m in 2015 alone.
The Ignite Manchester programme is based at Rise Manchester on Deansgate – part of a network of physical spaces established by Barclays.
The ten companies selected for the Ignite Manchester programme each receive £17,000 investment and a full-time 13 week accelerator programme in exchange for 8% equity in their business.
The programme will help company founders to refine their business proposition through meeting with experienced mentors and extended customer conversations; grow their customer base with expert workshops; develop a solid technical foundation and scalable growth plan and raise the investment required to grow their business.
Investors involved in Ignite’s Manchester programme include Tom Bloxham, founder of Urban Splash and Scott Fletcher, founder and chairman of ANS Group.
George Bettany, Manchester programme director for Ignite said: “We launched our first programme here last week with ten early-stage tech companies from all over: we have local companies from Manchester and also have teams that have relocated from London, Milan, Athens & Berlin for the programme which is amazing.”
He added: “Beyond the programme and the ten teams we’re supporting now, our mission is to really add to the tech community here in Manchester and help glue the eco-system together from investors and start-ups all the way through to the universities here that are full of talent.
“Ignite is here to support great founders build big businesses and we’re excited to finally be here on the ground in Manchester”
Michael Hartig, managing director, personal and corporate banking for Barclays in the North West, said: “We know that for UK businesses, access to the right types of funding plays a vital role in their growth and this partnership with Ignite will help ambitious entrepreneurs achieve scale through tailored advice, funding and mentorship.”
Earlier this month, Barclays announced its plan to introduce a national network of Eagle Labs, supporting UK businesses and entrepreneurs.
Barclays Eagle Lab Incubators will specifically target high-growth firms and entrepreneurs, giving fast growing businesses the space and resources to help them succeed. They will be able to collaborate with other like-minded businesses, mentors and industry experts. Under its High Growth & Entrepreneurs initiative, Barclays launched two dedicated funds – Barclays’ High Growth Venture Debt Fund and Innovation Finance – totalling £150m to help innovative companies.
