Up to £35,000 is being made available to Cambridgeshire-based startups through Anglia Ruskin University following the launch of its Enterprise Fellowship scheme.
While the money is likely to be split between a number of applicants, the chance exists for a single venture to take the entire money on offer according to the University.
It is the second year of the scheme run by Anglia Ruskin's Centre for Enterprise Development and Research (CEDAR), which last year shared £50k between three businesses.
Made possible by the generosity of a private benefactor and supported by the Lord Ashcroft International Business School, Anglia says the Enterprise Fellowship is open to anyone in the county with a bright business idea who is looking for financial backing.
In addition to a share of the £35k, successful applicants will receive mentoring support, specialist training and development, legal support and advice, and access to the StartupLab, the new business incubation centre at Anglia Ruskin.
Lester Lloyd-Reason, Professor of International Enterprise Strategy at Anglia Ruskin, said the hope was that the scheme would help more local entrepreneurs convert their ideas into real businesses.
He said: "Last year's scheme was a great success and we saw four excellent business ideas receive funding and support. Someone could bid for the whole £35,000, but it is more likely we would look to split the money between two or three budding entrepreneurs."
The first phase of the application process closes at on Saturday 30 June, by which time applicants must have submitted one page about their idea and another page about themselves. The successful applicants will then get the chance to expand on their ideas in front of the judges, and those who proceed to phase three will formally pitch to the panel in the grand final.
To submit an application, or for further details, please contact Dale Coss on 0845 196 2344 or email firstname.lastname@example.org The scheme is open to anyone living or working in Cambridgeshire, except staff and undergraduate students at Anglia Ruskin.
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