A business accelerator that supports budding entrepreneurs is offering £250,000 to young people across the UK who want to grow a digital business.
The sought-after scheme from TwinklHive provides grants and mentorship to individuals aged 18 to 24 and enables young people to commit and pursue entrepreneurship as a full-time career path and make their business dreams a reality.
The combination of funding and dedicated support on offer has been designed to provide a unique educational experience and equip successful applicants with the knowledge and skills to grow successful and sustainable businesses. To apply, the young entrepreneurs must have a validated concept for a technology-enabled business and a clear vision. Their idea should also be focused on solving a real problem for their customers, as the scholarship is looking to develop the next mission driven founders and cultivate startups that will make a real difference to society.
Each successful applicant will receive a grant of up to £40,000. The scholarship is a full-time position that is set to run for six months, with the opportunity to apply for follow-on investment from the TwinklHive accelerator at the end of this period.
The applicants are not required to pay back the grant, which also covers the founding team’s salaries of up to £20,000 for the six month period.
Set up in 2019, TwinklHive was created by the entrepreneur Jonathan Seaton, who is the Co-Founder and CEO of the global educational publisher Twinkl. Jonathan started Twinkl with his wife Susie Seaton in their spare bedroom over ten years ago. The business now operates in over 200 countries and regions and has over 790 team members based at its offices in Sheffield and around the world.
Since its launch, TwinklHive has supported a variety of mission-led founders from startups in the tech sector, including EdTech, FinTech and HealthTech. The accelerator is working to continually extend its support to the startup ecosystem more widely, including assisting and supporting young and aspiring entrepreneurs with their scholarship scheme.
Alongside the non-repayable grant, candidates will receive mentorship and support from Jonathan and the current startup founders from within the Hive. Candidates will also gain access to the accelerator’s expansive business network and there is the opportunity to take up work space in TwinklHive’s offices in Sheffield (covid restrictions and candidate location permitting). All support and mentorship can be accessed virtually to suit candidate’s locations.
Jonathan Seaton, Co-Founder and CEO at Twinkl and TwinklHive, said: “We’re absolutely delighted to now be in a position to offer support and mentorship to young individuals across the UK.
“We have all been living in unprecedented circumstances due to the pandemic. Covid has undoubtedly impacted the job market, and people are looking to find new opportunities and explore new directions as a result. For young people who are looking for a new direction or to pursue their business ideas, it can be an exciting yet daunting time. Through the TwinklHive scholarship we endeavor to support young entrepreneurs looking to take that leap and pursue and grow a business of their own.
“When my wife, Susie and I founded Twinkl, we experienced first hand the difficulties young entrepreneurs face when trying to get a business venture up and running. It can be difficult to get investment and having advice from people with experience is invaluable. We hope that we can provide the same kind of advice that helped us all those years ago and give people the opportunity to make a difference to their own lives and to others. ”