The seven start-ups, made up of 19 young entrepreneurs from 13 countries including India, China, Italy, Germany, Canada, Kenya, New Zealand, and Nigeria, will now be able to establish their promising businesses in the UK. This will help boost Britains enterprise community, creating jobs and inviting foreign investment.
More than 160 aspiring entrepreneurs from around the globe entered the first round of UK Trade & Investments pioneering programme. Selected by independent entrepreneurship experts as part of a rigorous judging process, the entrepreneurs successful to date come from five different continents and will launch businesses in sectors as diverse as sport, energy and health tech.
Their business ideas and inventions include: a one-of-a-kind way of creating green energy by converting waste coffee grounds into biofuel; a low-cost, portable, remote smartphone battery charging solution; and a fraud-reduction device that enables consumers to instantly verify whether a branded product is counterfeit via their mobile phone.
The teams will receive start-up support from the programme, including a 12 month place on one of the best business accelerator programmes, mentoring, help gaining clients, financial support of 12,000 per team member and visa endorsement. The enterprises will fully be owned by the graduate teams, and no equity is taken.
The Sirius Programme aims to attract hundreds of talented entrepreneurs into the UK in its first two years, with each of the resulting business creating new jobs, bringing in foreign investment and making a significant cumulative impact on the UK economy. Advantages of starting up in the UK include access to 500 million customers in Europe (62 million in the UK) and the fact that these consumers tend to be early adopters, keen to test and try new innovations.
The Sirius Programme is open for entries until 15 January 2014.
Continue to find out which seven start-ups have already gained places on the programme.