On 24 March, Virgin Media Business revealed its Pitch to Rich 2015 campaign, which runs in partnership with LinkedIn. The company is providing entrepreneurs and innovators the opportunity to take their business ideas to Richard Branson for the chance to secure a stake in a £1m prize, which includes cash, marketing, mentoring, travel and more.
The Virgin StartUp division of the business is now offering a £750,000 funding pot that will be available to up to 100 businesses that successfully complete a campaign on Crowdfunder, and they can raise up to £25,000.
Working with Virgin Start Up to champion funding for start-ups will create many opportunities,” said Crowdfunder MD, Phil Geraghty.
“Our experience shows that demonstrating your project is getting support, validates the idea and can unlock even more funding. At Crowdfunder we look to consistently offer additional opportunities to projects alongside crowdfunding to help turn more ideas into reality.”
Read more on crowdfunding:
- Crowdfunders: Second-rate investors?
- Dragons’ Den – Who needs them? From a collapsed deal to scalable growth
- 5 of the most outlandish crowdfunded business ventures
Successful applicants will be matched to mentors, who will commit to a minimum of 15 hours of one-on-one face-to-face support each year. Meanwhile, those wanting to take part in the programme that don’t meet the criteria will be referred to Crowdfunder for advice on how they can improve their chances of securing finance in the future.
Mei Shui, MD of Virgin StartUp, said: “We’re really excited about this partnership. It’s great to have so many different forms of funding available for entrepreneurs, but the one size-fits-all approach doesn’t work for every businesses.
“What we’re doing with Crowdfunder will allow entrepreneurs to spread their funding efforts between crowdfunding and loan finance which means ideas can be validated faster and launched with less debt – resulting in more entrepreneurs starting up.”
Read more on startup support:
- KPMG creates business advice “dream team” with NatWest-backed Entrepreneurial Spark
- How 5 startups developed with PayPal’s London mentorship scheme
- 5 things UK startups can learn from SXSW
Rob Love, chairman of Crowdfunder, added, “The Virgin StartUp partnership will, we hope be the beginning of a broader relationship with Virgin and we look forward to working with them to get more start ups funded. It’s hard to think of a better brand than Virgin for budding entrepreneurs – it’s the perfect partnership.”
In other Crowdfunder news, the company helped the top female game developers in the country raise £40,000, while team member Guy Hayler discussed what he’d like to see from the next government following the general election.
Share this story