WebStart Bristol, an internet incubator based in Bristol, England, opened up for operations in January 2014 following a successful crowdfunding round on Seedrs in 2013. The incubator just recently launched their next crowdfunding round to raise funding for their second fund.
The first “Fund of Crowdfunded Offerings” was a first for both Seedrs and the industry – introducing a new approach to the crowdfunding world. The fund offers individuals to participate in a portfolio of small companies which are carefully selected by the incubator creating a diversified approach with a single investment.
Round 2 of the WebStart Bristol fund is similar in structure to the first. The Fund is seeking £150,000 to invest in 10 startups. As of today the offer is approximately 70% funded. These investments are able to take advantage of the Seed Enterprise Investment Scheme (SEIS) which is a compelling tax incentive to those who participate in the offer.
Founded by Mike Jackson, the incubator plans on accepting 30 new startups annually, give them a home, some funding and ten weeks of mentoring to help propel the small companies to the next level of success. Jackson, an entrepreneur himself, sold his company and moved to Bristol in 2005. While reading an article about famed Silicon Valley incubator Y-Combinator, Jackson decided to create a similar type structure to help build tomorrow’s next big tech success in the UK.
For companies accepted into the program ten percent equity will be exchanged for the WebStart Bristol services. After the ten week program each company will present at a demo day to potential new investors. WebStart Bristol was recently visited by the Duke of York in a strong sign of acknowledgement for the young incubator.
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