Pre-seed tech accelerator Seed Haus has opened applications for its second cohort of start-ups, with five-figure funding on offer.
The venture, co-founded by its chief executive Calum Forsyth and chairman Robin Knox, was set up in a bid to plug a gap in the start-up support system. It has been backed by a line-up of high-profile investment partners including Sir Tom Hunter, BrewDog co-founder James Watt and technology entrepreneurs Paddy Burns and Chris van der Kuyl, co-founders of Minecraft games developer 4J Studios.
The accelerator, based at Maritime Street in Leith, hopes to trigger Scotland’s next billion-dollar business, or “unicorn”.
Interested applicants for the second cohort have until 30 December to apply for £30,000 of equity investment from Scotland’s top-tier tech investors. Only five start-ups will be selected to join the programme.
Forsyth said: “The founders backed in cohort 1 were originally looking to raise around £100,000 with very little traction. Based on the current investment climate in Scotland, that would have meant selling a big part of their business, at a formative stage, hampering future growth and fundraising.
“Pleasingly, they saw the value in aligning with Seed Haus which allows them to hold on to a greater portion of equity and lay the foundations for a truly scalable business.”
Knox, who grew his own tech start-up, Intelligentpos, into a business that was acquired by iZettle last year, added: “The opportunities we work with are at an early stage but they might have sold 20-25 per cent of their business to reach the same goals without the framework of Seed Haus.”
More details are available at: www.thisisseedhaus.com