Funding boost for young York entrepreneurs

The funding awards, totalling £6,500 and comprising a mix of proof of concept and business growth funding, were handed out at the official Create 13 launch event on Friday 17 May - an annual showcase that gives York St John University’s Faculty of Arts a unique opportunity to exhibit students’ work and talents.

Adam McSkimming, President of York St John University Students' Union, presented the Spotlight Awards. The Proof of Concept funding will help three graduate entrepreneurs test their business ideas and the Business Growth Funding will help three young companies move to the next level.

York St John University graduate James Copson is one of the award recipients. He received £1,500 from the Business Growth Fund to help him expand his current studio space to meet demand for his video production business, Anattic, which he launched in 2012.

Robert Sager, Creative Business Enterprise Officer at York St John University, said: “James is a perfect example of the type of business we aim to nurture. He is currently concentrating on web video, promotions and corporate video, and has already built up a strong portfolio of clients. He also has offers from Channel 4 for one of his documentaries. As well as expanding to meet demand for his services, his aim is to provide a stepping stone for other young graduates, and I’m sure we will see him go from strength to strength.”

Business Growth funding gives businesses under a year old the opportunity to access up to £1,500 to grow their business. To qualify for the shortlist, applicants had to submit a business plan, market analysis, expenditure forecasts, time commitment as well as scheduling a meeting with Creative Business advisers at the university.

Proof of Concept funding is intended for market research to test out a business idea or undertake specialist training to start up a business. To be considered for an award, students had to submit their business idea alongside a market analysis, risk assessment and expenditure plan.

“We have been incredibly impressed with the calibre of applications, and we’re very happy to be in a position to award funding that will help young businesses develop and grow thanks to the Graduate Entrepreneurship Project in Yorkshire,” says Robert.

The project has attracted over £1 million of investment from the European Regional Development Fund as part of Europe’s support for local economic development through the Yorkshire and Humber ERDF Programme 2007-13.

In addition to funding, the Creative Business team is offering graduate entrepreneurs an opportunity to secure a free of charge place on the four-day Graduate Enterprise Business Boot Camp in July. The boot camp provides opportunities for participants to meet other graduate entrepreneurs from around Yorkshire and learn from established businesses on topics including social media, marketing, market research, finance and legal.