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Applications open for retail start-up funding scheme

Applications for retail start-up accelerator programme TrueStart Collection have opened for the autumn 2015 season, offering a six-month mentoring scheme and either £25,000 or £50,000 equity funding options.

The London-based investment firm, alongside partners Accenture, River Island and landlord Land Securities, will select pioneering start-ups in the retail and consumer industries to take part in the scheme while other applications will be accepted until September 20.

Its previous scheme in spring 15 was the most successful to date and received more than 200 applications, with start-up ideas covering a range of industry sub-sectors including retail analytics, ecommerce, wearable technology, payments and social commerce. Six start-ups were selected for that round of investment, but no firm numbers have been set for this latest round.

Hoxton Analytics, which analyses people’s footwear to provide real-time footfall and demographic data, and Photospire, which automatically generates personalised video content for online marketing and in-store displays, were both accepted into the spring 15 programme. Almost three months in, they have started beta testing of their technology and are in live discussions with major high street retailers.

TrueStart chief executive Baz Saidieh, said: “We have been delighted by the depth and quality of the startups applying to TrueStart for funding. This is a recognition that industry specialist investment can help provide the very best start-ups with the edge they need to succeed.

“It is also a firm indicator that TrueStart is creating the right formula of industry insight and contacts mixed with world-class partners and teams to offer young businesses a path to accelerate growth.”

@Tara_Hounslea

Readers' comments (1)

  • The rhetoric sounds good. TrueStart doesn't come across very professional and feedback from startups involved is certainly mixed.

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