23 start-ups set their sights on more than £17 million in funding
Exchange business support programme will help business secure millions in funding
23 ambitious companies from across the UK have beaten off stiff competition to take part in Exchange, a pioneering business support programme, based at Bonded Warehouse, within Enterprise City, in Manchester City centre.
The businesses, which span the ecommerce, proptech and medtech industries, will form the first cohort of start-ups on the business support scheme, and will be targeting to raise a total of over £17 million in funding, over the next 12 months.
The shortlisted businesses have already raised a combined total of over £7.5 million within their first two years in business, and are seeking to level up and leverage support from the scheme’s focused workshops, up-skill sessions, high-profile speaker events and panel discussions, to help their growth.
Currently, the first cohort of business employs 80 people in total, with their respective headcounts set to surge as they complete the programme.
The scheme, which recently received £2 million in funding from Manchester City Council (MCC) on behalf of Department for Culture, Media and Sport (DCMS), will give ambitious, early stage tech companies and entrepreneurs access to the tools and infrastructure they need to grow and succeed.
The first wave of firms will start a community of like-minded businesses and be the pioneers of Exchange’s mission to create and sustain over 2,000 jobs in the city over the next 15 years.
Tanya Grady, head of partnerships at Enterprise City, said: “After much deliberation, we have now finished shortlisting the successful businesses for the first cohort of the Exchange programme. We are delighted to welcome on board an array of fantastic early stage tech businesses, from all over the UK, who will join us to root their operations in Enterprise City.
“These innovators, creators and trailblazers will carry the Enterprise City vision – to create a home for start-ups through to global tech businesses – in all the work that they do as we establish this global technology community.
“The first Exchange cohort comprises of e-commerce, medtech, proptech and tech for good subsectors, all eager to scale-up and learn from our scheme partners, and Tech Nation. These business clusters will grow together through peer-to-peer learning, as they scale, and become part of the city’s booming tech and digital sector.”
Entries for Exchange’s second cohort will open in August 2020, giving new organisations the opportunity to apply, as it looks to foster the UK’s next best start-ups and encourage them to root in the new media, tech and digital district of Manchester.
The unique Exchange programme will be delivered in collaboration with its knowledge partner, Tech Nation, and is spearheaded by Allied London, an award-winning property development and investment company.