The Bright Ideas Trust (BIT) is intended specifically to help young entrepreneurs. It will address the issue of first – time businesses failing soon after setting up, due to a lack of experience. The Trust will provide advice, guidance and funding to help young people get their ideas off the ground. A package of comprehensive business support services will be provided, including:
- funding – up to £25,000;
- mentors and advisers – providing information, advice, guidance and support on an individual basis to each beneficiary;
- information, business guides and other materials;
- membership to BIT network and community group;
- engagement with BIT – organised events, conferences and training activities;
- assistance with, and access to, further funding sources, for example from VCs and business angel groups, as well as supporting partner organisations
Eligible applicants are young entrepreneurs aged 16 – 30 who are living in Greater London and seeking to start a new business or currently in the very early stages of a new venture.
Applicants must be in one of the following socio – demographic groups:
- Currently not in employment, education or training.
- Registered disabled.
- Ethnic minority.
- Within or have experienced public care or the penal system.
Applications may be made at any time. Please visit Bright Ideas Trust London for further information.