Milton Keynes Investors Group (MKIG), a not-for-profit organisation that helps local startups raise angel funding, has proudly announced an exciting collaboration with the Milton Keynes City Council to introduce the MK Tech Fund.
This groundbreaking initiative aims to provide vital financial support to tech-based start-ups in the region, fostering innovation and driving economic growth.
The fund is tailored for high-growth tech-based startups that currently have fewer than ten employees and less than three years of trading experience. Five selected businesses will be given grants of up to £7,000 each, to spend on something they need to grow their venture e.g. buying equipment, covering legal fees, or launching a marketing campaign. The fund is available to startups nationwide, but preference will be given to businesses that are based within the Milton Keynes postcode area, or do business within the area.
Additionally, one of the selected startups will have the chance to secure an additional £5,000 next year through a competitive style pitch. They will also have the opportunity to pitch to MKIG’s angel investors for further funds.
“Milton Keynes remains one the best cities to raise a seed round. The launch of The MK Tech Fund fills a funding gap by providing a much-needed leg-up for early-stage tech startups. We look forward to helping five of the most promising founders in the coming months” (Amar Chauhan & Georgina Hollis, Founders of Milton Keynes Investors Group (MKIG).
Cllr Robin Bradburn, Deputy Leader of Milton Keynes City Council and Cabinet Lead for Economy and Recovery emphasised the significance of the initiative, stating, "We think Milton Keynes is the best place in the UK to start a business, and we have one of the highest rates of start-ups. A modest financial boost at the right time can definitely be ‘make or break’ for a firm. That’s why we’re investing in the MK Tech Fund. Investing today creates opportunities for tomorrow, whether that’s good jobs for local people or tech innovations that were made and grown in MK."
As the largest not-for-profit angel network in the UK, MKIG is honoured to manage the MK Tech Fund on behalf of the City Council. MKIG provides a free pitching platform for founders and opportunities to meet active angel investors in the local region. It is free to pitch and there are no success fees.
The MK Tech Fund is now accepting applications at https://themkig.com/#tech-fund and requires the startup to submit a short form detailing their ambitions for their startups, their funding requirements and how the grant funding will help them to achieve their goals.
