Student showcasing business at Enterprise awards evening

Great ideas need funding

Cash funding to support your business ideas

Applications open on Monday 22 April

Would you like some money to explore the viability of your business? Do you already have an idea you wish to develop? If so, these startup grants are for you.

You can apply for up to £3,000 from the Student StartUp Team to test an idea or progress your startup to the next stage. Please only apply for the amount of funding you need. This funding is awarded in collaboration with Santander Universities.

 

You won't need to pay the money back but you should be able to show a return on investment from your business development. 

You can use this funding to:

  • conduct market research
  • create a prototype
  • develop a marketing plan
  • purchase products and services
  • launch a product or service

 

Eligibility

  • Open to University of Portsmouth students and graduates (within 5 years of graduating)
  • If you are on a student visa you are not eligible to start a business however, we will consider applications to undertake market research or help progress your idea to a stage that gets you ready to launch.
  • If you have received startup funding from the Student StartUp Team on two or more occasions unfortunately you are not eligible to apply for this funding.
  • Unfortunately, the funding cannot be used to pay for office space or to pay a wage, although you can use it to pay for outsourcing specific tasks/skills if you can demonstrate the impact.
  • The funding is for UK-based projects and businesses only. 

 

Application advice

Need some help with your application? Get in touch through StudentStartup@port.ac.uk

The selection panel will evaluate your application based on how clearly you explain: 

  • the overview of the idea, including identifying the problem and solution
  • the method of revenue generation for the business
  • the work you have done so far on the business or idea
  • how the funding will be spent
  • the impact the funding will have on the business
  • the overall feasibility and the potential to be a viable business

All criteria are scored on a scale of 1-5. 

 

  • Assume no one knows about your idea, explain it in a clear and concise way
  • Be creative, think about adding a video to explain your idea, add a link to your website or portfolio, if you have drawings of your concept - share them with us. Anything that helps us understand your idea is always welcomed. At the same time don't worry if you haven't got anything extra to add - just make sure your overview is really clear.
  • Impact is key, so explain how the funding will help - how will it make a difference?
  • Be realistic with how much you are asking for. If you can provide a breakdown of what the money would be spent on, that's really helpful
  • Think about what makes you different - we get lots of applications so make yourself stand out
  • Any questions ask the team. We can't review your application before you submit but we can answer any questions you may have

 

 

How to apply

Applications open on Monday 22 April.

 

Applications close: Sunday 12 May 2024, 11:59pm GMT

We will notify you by Friday 24 May 2024 of the outcome of your application. If successful at this stage you will be invited to pitch your idea during the week commencing 10 June 2024.  

Pitching dates can not be changed. If you aren't able to attend for any reason, alternative dates cannot be arranged. 

Unfortunately, we cannot provide written feedback following the outcome of your application. However, if you would like to speak with someone in our team you can book an appointment where we can discuss this with you. 

 

 

 

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