PDA

View Full Version : (Seedrs) Million Pound Startup



SocialCam
08-06-2013, 02:47 PM
https://seedrs-production.s3.amazonaws.com/uploads/startup/summary/logo/2172/ov9w3hkttj159t5hwc9c43h0yt55qr7/thumb_logo.pngMillion Pound Startup


MPS is the biggest contest of its kind, offering 1 million investment to the winning company.
INVESTMENT SOUGHT:1,000,000
https://www.seedrs.com/startups/million-pound-startup


WHAT IS IT?
Digital Shoreditch believes that the UK, particularly London, is the best place in the world to grow a young, innovative, high-growth potential business. So, they are spear-heading the Million Pound Startup (MPS) - the first global contest offering the winning digital/tech company 1 million equity investment and the support of top-tier partners - with the goal to propel the winner into a 100 million company within five years.

WHAT IS THE INVESTMENT IN?
The 1 million raised will be invested in the winner of the contest. The winner will be selected after a thorough qualification and selection process that includes: weighted voting by contest followers, contest investors, contest partners and a final investment panel.

The deadline for contest registrations is 29 August 2013. From then, the rigorous selection process and pitching will begin. The final round will include due diligence with support from KPMG, while Seedrs will conduct legal due diligence in relation to the investment. The winner will be selected in December 2013.

As part of the final process, each company will receive an initial valuation which will indicate the amount of equity they will have to give up for the 1 million investment. The final percentage will fall within 10%-40%.

WHAT ARE THE CRITERIA FOR WINNING?
The winning company will:

Be prepared to relocate their business to east London's Tech City.
Be founded by at least one person over 18 years old who is eligible to work in the UK.
Currently be turning over less than 1 million per year and have been trading for less than 10 years.
Have customers, be generating revenue from a product and/or service and will have a management team in place.
Be legal under UK law and not immoral or unethical. This is a broad term but is likely to include, but is not restricted to businesses that promote: irresponsible gambling, pornography, violence, or otherwise incite hatred, defamation and discrimination.
Be in the digital and/or technology space and be potentially high-growth.
Meet the current HMRC criteria for the Enterprise Investment Scheme (EIS).