Programme aims to breathe life into tech startups
A ‘BOOT CAMP’ for early stage hi-tech businesses founded by Birmingham businessman Mark Hales aims to make the city the home of the ‘next wave’ of entrepreneurs.
Mr Hales has launched the Oxygen Accelerator programme, and hundreds of businesses from around the world are expected to apply for the chance to win up £20,000 of funding and to attend an intensive 13-week mentoring programme at Birmingham Science Park Aston.
Mr Hales, who is a non-executive director of TheBusinessDesk.com, said: “I want to help to turn people’s ideas into solid businesses, while helping to develop a sustainable future for my home city.
“It’s fundamental to build sustainable technology communities across the country, not just our capital city. Birmingham has a great deal to offer and the fact that there are so many successful business people both locally and from across the globe ready to get involved and help build the tech stars of the future, corroborates my vision that we need to extend beyond London.”
The programme will select 10 teams from the applications to offer them evergreen funding of up to £20,000, a loan repayable once sufficient investment has been received or the business reaches a stage of profitability where it can afford to repay it. These teams will then be asked to move to Birmingham for the duration of the 13 week programme to live and breathe their products during an intensive boot camp at Birmingham Science Park Aston.
Applicants will have access to a pool of state-of-the-art resources and also receive guidance from fellow successful tech entrepreneurs, business mentors and financial and legal support.
Mr Hales said: “It’s about having the right advice or connections at the right time. Crucially at the end of the 13 weeks they will present their products to venture capitalists and angel investors, as the programme culminates with an ‘Investor Day’.”
Mike Whitby, Leader of Birmingham City Council and chairman of Birmingham Science Park Aston, said: “Birmingham needs to build and grow a powerful community of successful entrepreneurs that have a vision for innovation. I believe the Oxygen Accelerator will help produce viable businesses that can help expand our economy and create real job opportunities – not just locally, but potentially nationwide. It is a formidable opportunity.”
Mr Hales said: “We want to see people from all stages in their business development, from those with ideas to those who are ready to seek funding and want a supportive network to help them accelerate to the next level.”
Applications are open now and close on June 30th 2011, and the boot camp gets underway in September. For details go to: http://oxygenaccelerator.com
