New Accelerator Programme to Invest in Technology Start Ups and develop them into Sustainable Companies
Birmingham, 9 May 2011: Oxygen Accelerator, an investment programme with intensive mentoring and training for technology start-ups, launches today and is open to receive applications from individuals or groups worldwide with an innovative tech-focussed product. The 13-week intensive boot camp will be based at Birmingham’s Science Park Aston (BSPA) from 1st September 2011, and will provide selected groups with the necessary environment and equipment to be able to super-charge their business’ products and ideas as marketable in the real world.
Mark Hales The Oxygen Accelerator programme is working in partnership with the BSPA and will select 10 teams from the applications to offer them evergreen funding of up to £20,000, a loan repayable once sufficient investment has been received or the business reaches a stage of profitability where it can afford to repay it. These teams will then be asked to move to Birmingham for the duration of the 13 week programme to live and breathe their products during an intensive boot camp at the Birmingham Science Park Aston, a high-tech facility perfect for inspiring entrepreneurs and to bring direction to their products.
Applicants will have access to a pool of state-of-the-art resources and also receive guidance from fellow successful tech entrepreneurs, business mentors and financial and legal support, which is imperative for any business during its formative stages. It’s about having the right advice or connections at the right time. Crucially at the end of the 13 weeks they will also present their products to venture capitalists and angel investors, as the programme culminates with an ‘Investor Day’.
Serial entrepreneur and the brainchild of the Oxygen Accelerator, Mark Hales, developed the programme after reviewing the lack of business tools available for people who are keen to develop their ideas into concrete business plans with commercial sense for growth and investment.
Mark Hales, states: “It’s fundamental to build sustainable technology communities across the country, not just our capital city. Birmingham has a great deal to offer and the fact that there are so many successful business people both locally and from across the globe ready to get involved and help build the tech stars of the future, corroborates my vision that we need to extend beyond London.
“Oxygen Accelerator will be the start of a great new wave of entrepreneurs drawn to Birmingham and who will have access to all the tools necessary to be the next big thing. We want to see people from all stages in their business development, from those with ideas to those who are ready to seek funding and want a supportive network to help them accelerate to the next level. Oxygen is here to literally breathe life into a vision and turn it into reality. Our aim is to bring the best to Birmingham and encourage them to stay.”
Criteria for applying for Oxygen Accelerator is simple: founders of the company will be asked a series of questions relating to existing milestones, investment to date and revenue generation - basics that are usually part of a business plan. Accompanied with this should be a short video of the founding members as to why they should be selected to be part of the Top 10, which will give judges a good impression of what they are like as individuals. Judges will be looking for strength in idea, how much they think they’ll benefit from the programme, presentation and thinking as well as team dynamics.
Applications are open now and close on June 30th 2011. Click here for more information on how to submit your proposal, or how to become a mentor and/or investor: http://oxygenaccelerator.com