Seed money for digital businesses

The Difference Engine (http://www.thedifferenceengine.eu/)
is a seed accelerator programme that
selects about ten companies per round, providing funding of £20,000 per team, along
with support and mentorship. When each 13 week programme closes, participating businesses should be investor ready, and will be expected to present their businesses and products to a group of venture capitalists and angel investors at a demonstration day.

The programme is open to any digital businesses, and around ten will receive funding and places on the programme. Although these rules are not ‘set in stone’, typically those that earn places on the programme are: web-based or software oriented at version 1.0 (for more ambitious projects, a prototype can be developed within the 13 week programme); ‘disruptive’ (market changing) technology solutions that are not capital intensive; and teams rather than individuals, who must have the right to work in the UK/appropriate visas.

Speaking to last times participants, they all got something different out of it in terms of focussing their businesses and deciding how to take their companies forward. And it was both very intense and great fun.

The application process for the second Difference Engine programme later this year is now open (closing July 23, 2010). Shortlists will be made by 6
August, 2010 – twenty applicants will be shortlisted, of whom around ten will
earn places on the programme.

The link for applications is here: http://thedifferenceengine.eu/apply/