TrueStart opens applications for mentoring scheme for retail and consumer industry startups
Retail accelerator TrueStart has opened the application process for its second mentoring scheme which offers one-on-one coaching and specialist advice for retail and consumer start-ups.
The scheme will see the organisation select new start-ups from the retail and consumer industries to take part in The Collection Autumn Winter 15 which offers a six-month accelerator programme at Truestart’s central London hub.
Truestart said each business will be offered mentoring, access to a global network of senior retail and consumer executives and the expertise and knowledge to help them grow. In addition, the successful applicants will be able to apply for two equity funding options: £25,000 for 4.5% equity, or £50,000 for 9% equity.
TrueStart’s previous campaign received over 200 investment applications with start-up ideas covering areas such as retail analytics, e-commerce, wearable technology, payments and social commerce as well as disruptive fashion, food and convenience brands.
Start-ups that were successful in the last scheme included birch water brand Sibberi, supplements business VITL, clothing exchange platform Clotho, technology businesses Hoxton Analytics and Photospire, and Supa Academy which helps 16-24 year olds to learn about commerce and put their learnings into action by becoming weekend shopkeepers.
TrueStart chief executive Baz Saidieh said: “We have been delighted by the depth and quality of the startups applying to TrueStart for funding. This is a recognition that industry specialist investment can help provide the very best startups with the edge they need to succeed. It is also a firm indicator that TrueStart is creating the right formula of industry insight and contacts mixed with world class partners and teams to offer young businesses a path to accelerate growth.”
Truestart is partnered in the accelerator scheme by Visa Europe Collab, Accenture, River Island and Land Securities. The current application round will be open until 20 September 2015.
