Invest Northern Ireland is contributing £2.6 million to establish the five-year seed accelerator. Start Planet NI seeks to attract international and indigenous businesses with technology-based ideas. The first Start Planet NI intake will be in November 2015, and will bring together Northern Irish start-ups with international counterparts on a 50/50 basis.
The three-month long programme will be based in Revolution BFS, a purpose-designed accelerator and co-working space in Belfast’s Cathedral Quarter. This space will be the latest SOSventures Revolution co-working space, joining sites in San Francisco, Schenzen, Cork and New York.
As well as a programme of intensive mentoring and support during the first three months, companies will have the option to stay on in the space for a further six months free of charge.
Each of the 10 successful companies will receive £15,000 to £40,000 in seed funding in return for an 8% equity release. For example, 2% of all equity will go towards a Founders’ Fund, which plans to generate shares in a pool made up of each company participating in the five year programme. This means the success of any participant will be shared by all programme participants.
Closing date for applications is 18 September 2015.
For more information visit www.startplanetni.com.
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