Why should we join Springboard?Springboard is a unique opportunity to turbocharge your startup by working with accomplished mentors and experts in a dedicated business environment. In short Springboard gives you the best chance to explore and realise the potential of your startup.
How much funding do Springboard companies receive?It’s a straightforward deal. You’ll receive £5,000 per founder (to a maximum of three founders) for which we will accept 6% of founder shares per startup (NOT per founder). We do not have any funny terms and conditions and we align ourselves entirely with the other founders of the business – effectively becoming a co-founder of the business.
We have introduced a new tier, that allows teams that have already received funding or are cashflow generative to participate in Springboard for 3% of founder shares - without any additional investment funding.
For both of the above options, we provide teams with free office space and over $150k of services from our various partners including hosting, legal services etc.
What type of startups do you accept?Initially, we focused on technology businesses and applicants based on exploiting the web and now we will also consider start-ups with a hardware element. But, to be clear, our sweet spot is disruptive technologies that are not capital intensive.
Is my company too early (or late) stage to apply to Springboard?Not at all. We will accept start-ups at a very early stage. Equally, we believe that Springboard can provide substantial value to later stage businesses as well.
We regularly have teams that have received seed funding participating in Springboard. In light of this, we have also create a new offering that allows funding/cashflow generative teams to participate in the program for only 3% founder equity.
Can I apply if I’m not from the UK?Yes. Anyone can apply to Springboard from within the EU and beyond, as long as you and your team can work in the UK legally for the duration of the program.
We are only one of two "startup competitions" that have been endorsed by UK Trade and Investment ("UKTI") for applications for a Tier 1 (Entrepreneur) Visa. Subject to your team being made an offer by Springboard, you can apply for a Prospective Entrepreneur Visa that enables you to enter the UK for up to 6 months. This will allow you to participate in Springboard and seek to secure funding.
Where is Springboard based and what’s it like?Springboard Web & Mobile are currently based at Google's Campus location in TechCity London.
Springboard IoT is based at ideaSpace which sits within the prestigious, state of the art Hauser Forum created by The University of Cambridge. It’s one of the largest co-working spaces in Europe and was tailor made to foster technology transfer, research and the partnership between start-ups and mentors.
Do I need to send in a business plan?Absolutely not, life is too short. You just need to complete a short application form.
Where will we live while we’re there?We will team you up with someone who will help you find somewhere to live during the program.
Will you accept single founder teams?Highly improbable, the program is incredibly intensive. We will actively encourage you to find someone to work with.
What if my company doesn’t ultimately succeed?Best to try and fail, than not try at all. But the mentors and contacts you will build will put you in good stead for your next startup.
Do I have to be there for the entire program?Yes, the program is incredibly intensive and we believe it is essential to focus entirely on your startup for the duration of the program. We do, however, recognise that on occasions that it may be necessary to travel to meet with contacts and people you are introduced to.