On Thursday, Crowdcube announced the launch of Crowd10, a new initiative from the funding platform’s affiliate, IdeaSquares. The website stated that the program is seeking to support 10 of the region’s startups in raising up to £150,000 of Seed Enterprise Investment Scheme (SEIS) investment.
Founder and CEO of IdeaSquares, Kirsty Ranger, stated:
“We chose a diverse range of startups from multiple business sectors which, we feel, is representative of the diverse business community that operates in our region. For investors we hope that the ten startups presenting here, will provide the opportunity to create a diverse South West early-stage investment portfolio, spreading risk to capital. Furthermore, all ten companies are eligible for Seed Enterprise Investment Scheme (SEIS) tax relief. SEIS aims to encourage seed investment in early stage companies, giving investors, including directors, an initial tax relief of 50% on investments up to £100,000 and Capital Gains Tax (CGT) exemption for any gains on the SEIS shares.”
Crowdcube revealed that the first four of Crowd10 launched on Wednesday. These were:
- The Chocolate Bear Kitchen: A pop up restaurant and events company that offers gluten free menus with ½ of their dishes being vegan.
- Coherent: A web application that is designed to manage co-working and shared workspaces and connect their communities.
- Local Vets: A developing community of locally owned vets practices, committed to keeping pets healthy.
- LUX: A rewards app that will connect fine diners with hand-picked local restaurants.
The other six will be launching within the upcoming month. See who they are here.
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