Cohort 4 for SHAKE Climate Change (now in its final investment year) is open for applications providing:
- seed capital funding for entrepreneurs and start-ups in food and agriculture with a positive impact on climate change
- up to £100k of funding available per venture as a social investment into a UK company (the plan can be international)
- 6 months of business plan training and mentoring / 12 months of business aftercare funded by the programme
Applicants should preferably have an innovative idea, early thoughts about their plan and climate effect, know who would run the business, confidence they can access any IP.
So it is of relevance to later stage, in-scope innovation opportunities that may be looking for start-up seed funding or have recently spun-out and seeking seed co-investment.
We require participation in all phases in order for us to provide you with: a) a peer-to-peer learning network: b) time with your scientists and mentors c) capability to monitor, assess and demonstrate impact
Company funding scheme
Shake Climate Change uses a return on investment venture funding scheme. Start-up funding is provided in Phase 3 of the programme in the form of a convertible, interest-free loan. Equity investments may also be considered, although only for companies that are more advanced or require capital to overcome short-term, growth barriers. In such cases, the Programme will call on external investment advice as needed to agree companies’ valuation and suitable equity investment structures. Prior to entering Phase 3 all the participants in the programme will be asked to review and approve to the terms of an investment agreement.
Eligibility to enter the Entrepreneur programme
Eligible start-up companies must meet two criteria: 1) Start-up companies that target the agriculture sector with an innovative idea and new products and services that deliver a tangible, positive impact on climate change. 2) be incorporated in UK (registered with Companies House).
Terms and conditions of the financial support
The financial support provided by the programme is to cover start-up operating cost such as the cost of building a prototype demonstrators, outsourcing software, hardware or other development; conducting customer trials and interviews; patent filing; marketing related cost; staff costs, etc. No additional grant is provided in support of salaries or any other expenditures. These costs will have to be managed and funded from the single funding allocation provided to each team or individual funder.
By summiting your application to Shake Climate Change (SCC) you agree to share your application with SCC staff and the Programme Steering Group (SGF) and Investment panels (IVP) members (both jury members). All the above mentioned have signed a Non-Disclosure Agreement.
Extended to 20th May
Here is the link to the SHAKE application: http://www.shakeclimate.org/.