8 great funding options for London tech startups in 2015

The funding labyrinth is complex, and trying to navigate through it alone is near impossible. This may seem like a daunting step for tech startups in London.

The funding labyrinth is complex, and trying to navigate through it alone is near impossible. This may seem like a daunting step for tech startups in London. If you’ve written your business plan and you’ve had an accountant check it over and verify your cash flow forecasts for the first couple of years – the next step involves planning your funding options for your tech startup. Here are some great funding options for London tech startups in 2015:

Barclays_branch_thumb800

 

 

 

 

 

  1. Barclays Tech Fund

Overview

Barclays has just launched its new £100mil fund to lend cash to fast growing British technology firms who may not want to sell an equity stake.

Funding:

Barclays said it will lend up to £5mil for three years to technology firms that have secured venture capital financing, filling what it said was a gap in the way technology firms were financed in Britain.

More information

 

TwentyThreeMiles_-_2015-05-07_08.29.26

 

 

 

  1. TwentyThreeMiles

Overview

TwentyThreeMiles is a technology-focused incubator, accelerator and fund. Their fund will back early-stage businesses operating in five key sectors: Big data, Personalisation of the internet, Social apps for enterprise, Internet of things, Social, mobile and e-commerce.

Funding:

Successful tech start-ups chosen by the fund will obtain up to £30,000 and have access to their network of investors, mentors and potential clients in order to help develop their offering and enable a successful launch to market. Businesses accessing the fund will be provided with 12 months of office space in its London offices.

More information

 

black-london_co-investment_fund_logo_final-400x120-01

 

 

 

  1. London Co-Investment Fund

Overview

The London Co-investment Fund (LCIF) is a £25m fund from the Mayor of London matched by £60m from six selected co-investment partners (crowdube, AngelLab, Wellington Partners VC to name a few). The funds aims to enable SME’s within science, technology or the digital sectors to raise significantly more funding so that they have a sufficient money, time and resources to prove their business model.

Funding

Successful startups chosen by the fund will be able to fundraise between £250,000 and £1,000,000.

More information

 

startupdirect

 

 

 

 

 

  1. Startup Direct

Overview

Startup Direct is the delivery partner for Startup Loans – a government funded scheme to provide advice, business loans and mentoring to startups in the UK, who have been in business for less than 12 months.

Funding

Successful startups are able to receive up to £25,000 funding to launch their business at a low, affordable interest rate (6.2% APR) over 1-5 years. Besides funding, startups also receive mentoring, workspace and more.

More information

 

R&D-Tax-Credits

 

 

 

 

 

  1. R&D Tax Credits

Overview

The R&D Tax Credits scheme (Science and Technology Research and Development Tax Credits) is a very reliable scheme that enables HMRC to pay cash to companies that are doing innovative R&D. Contrary to popular misconception, the scheme is quite broad and includes, for example, software development. The criteria for eligibility seems to be complex, but a final answer should be obtained from someone who knows these criteria inside out and deals with HMRC on a regular basis.

Funding

You can get up to 32% of your development costs back in cash every year.

More information

Print

 

 

 

  1. Crowdcube Sprint Program

Overview

Crowdcube is marketing the addition to its platform as faster and leaner, with no legal or admin fees and a pitch going live in just 14 days. There are a number of qualifying criteria to ensure the process is as efficient as possible.

Funding

The Sprint Programme provides seed stage start-ups looking to raise between £20,000 and £150,000, with a quicker and more cost-effective method of finding finance from Crowdcube’s investor community.

More information

 

silicon-valley-bank-office-e5aeqvG2dy

 

 

 

 

 

 

  1. Silicon Valley Bank

Overview

Silicon Valley Bank is a popular bank for tech startups, simply because they understand the nature of the game, and their reputation for great service.

Funding

SVB is very willing to extend loans to VC-funded tech startups, to help them leverage their funding better.

More information

 

innovate_uk_circle

 

 

 

 

 

 

 

  1. Innovate UK

Overview

Innovate UK (Technology Strategy Board) funds tech startups if they want to carry out a feasibility study to test their idea and make sure it will work, and create a new product or service, or improve an existing one, through research and development (R&D).

Funding

The funds aims to enable startups who have found new uses for digital technology in the regions of £25,000 to £250,000.

More information

 

Please contact me if you would like to discuss your funding options for your tech startup. We are 100% online accountants offering flexible meeting times over Skype, or if you prefer we have 4 meeting points across London for a face-to-face meeting.

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest