£250,000 programme rolled out to help young tech entrepreneurs

A Sheffield-based business accelerator that supports budding entrepreneurs is offering £250,000 to young people who want to grow a mission-led, digital business.

The offer is from TwinklHive is looking to help  young entrepreneurs launch their business through grants and mentorship.

Targeted at people aged 18 to 24 the idea is to allow them to pursue entrepreneurship as a career path.

Following the launch of the scholarship last year across Yorkshire, the team it is now looking for its second cohort of aspiring entrepreneurs and is rolling out the grant nationally.

The prerequisite for the scheme is that the young entrepreneurs must have a validated concept for a technology-enabled business  that solves a real problem for users.

Each successful applicant then receives a grant of up to £40,000 which covers the founding team’s salaries of up to £20,000 alongside a six month full-time programme, which concludes with the opportunity to apply for follow-on investment from the accelerator.

Alongside the non-repayable grant, candidates will receive mentorship and support from Jonathan Seaton and the current start-up founders from within the Hive.

Candidates will also gain access to the accelerator’s expansive business network and there is the opportunity to take up work space in TwinklHive’s offices in Sheffield – Covid restrictions and candidate location permitting.

Jonathan Seaton who founded Twinkl said: “Covid has undoubtedly impacted the job market, and people are looking to find new opportunities and explore new directions as a result.

“For young people who are looking for a new direction or to pursue their business ideas, it can be an exciting yet daunting time.

“Through the TwinklHive scholarship we endeavour to support those young entrepreneurs looking to take that leap and pursue and grow a business of their own.

“When my wife, Susie and I founded Twinkl, we experienced first hand the difficulties young entrepreneurs face when trying to get a business venture up and running.

“It can be difficult to get investment and having advice from people with experience is invaluable.”

Amber Jardine, Hive Manager at Twinkl, said: “The scholarship was created to support young people who are passionate about building a sustainable business.

“I am so pleased that this year we are able to open this opportunity nationwide and I am looking forward to the prospect of work alongside mission-driven entrepreneurs with innovative solutions.”