British Design Fund announces first wave of funding recipients
The British Design Fund, an early stage investment fund for UK start-ups in the product design and manufacturing spaces, has named the recipients of its first wave of funding.
The fund has raised over £500,000 from over 160 individual investors since it launched earlier this year.
The first start-ups to receive funding include Calla Shoes, a new brand of fashion footwear for women who suffer from bunions, and the Rockit a portable rocking device which can attach to any pushchair, pram, car seat or crib.
The British Design Fund, set up by former Design Council chief executive John Mathers and design entrepreneur Damon Bonser, reached its crowdfunding target earlier this year. Over 100 companies have registered to apply for funding since the launch.
Bonser said: “Start-ups like Rockit and Calla Shoes represent the best of British business, creating exceptional new design-led products that deliver genuine value to their users. We’re delighted to be supporting their development and growth.
“The UK has the second largest design sector in the world, yet there is an astonishing lack of equity funding into early stage product design and hardware businesses. Most product start-ups rely on innovation grants and crowdfunding platforms to get their first products off the ground – if they’re lucky. The British Design Fund aims to fill that gap and help entrepreneurs significantly increase their chance of success in what’s become a highly competitive sector.”
