The Digital Greenhouse is launching the ‘Guernsey Venture Challenge’, the island’s first funded startup accelerator competition, working in partnership with venture builders Blenheim Chalcot.
The challenge is open to new businesses looking to launch and grow. It gives the opportunity to win early stage funding to accelerate their development and help get established.
£65,000 of funding is available to support local startup businesses including a £40,000 top prize, £20,000 second place prize, and a £5,000 'youngpreneur' award for those under the age of 25.
Applications are open from April and following a first round of shortlisting, successful businesses will receive an intensive six week programme of support from an expert mentor during the summer to prepare for their final pitch to the judges in September.
Pictured: the competition was endorsed by Deputy Kazantseva-Miller.
Deputy Sasha Kazantseva-Miller of the Committee for Economic Development welcomed the new initiative: “new businesses are the engine for innovation and new thinking. It’s great to see the Digital Greenhouse ramp up its efforts supporting startups through the launch of the first accelerator programme mixing intense mentoring and funding”.
Lucy Kirby, Director at the Digital Greenhouse, said that both capital and consultation are the bedrocks to success for any new business.
“We have seen hundreds of great ideas and new businesses established over the past few years and hope this initiative will benefit Guernsey entrepreneurs at the early stage,” she said.
Partnering with the Digital Greenhouse to deliver the accelerator, Charles Mindenhall, co-founding partner of Blenheim Chalcot said: “we are hugely excited to be supporting Guernsey’s growing and increasingly innovative business environment through the Guernsey Venture Challenge.
"We are pleased to be able to offer the winners the support to get started with their venture."
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