Pre-seed tech accelerator, Seed Haus, has opened applications for their second cohort of startups. Interested applicants have until 30th December to apply for £30,000 of equity investment from Scotland’s top-tier tech investors.
Seed Haus, co-founded by Calum Forsyth, CEO, and Robin Knox, Chairman – fills a gap in the startup support system by providing the very best founders with pre-seed investment, office space in their architecturally designed incubator, regular mentor meetings, workshops, investor sessions, and peer meet-ups. Seed Haus is also the only incubator in Scotland which provides entrepreneurs with start-up capital as part of the package.
Only 5 startups will be selected to join the programme and receive equity investment from a stellar lineup of Seed Haus Partners (investors): Alistair Forbes, James Watt of BrewDog, Gavin Dutch, Paul Walton, Judy Wilson, Rob Dobson, Paddy Burns, Chris van der Kuyl, Paul Davidson, and Sir Tom Hunter. The impressive group is comprised of serial entrepreneurs/investors with all of the partners having considerable experience in founding, growing, and exiting companies.
Seed Haus launched their inaugural cohort earlier this year with some of the countries most exciting startups making the grade to join the incubator – Drinkly, Kindaba, Sansible Wearables, Security CTRL, and Taka.
Looking to the future cohort, Forsyth commented: “Our deal terms are incredibly founder friendly. The founders backed in cohort 1 were originally looking to raise around £100,000 with very little traction. Based on the current investment climate in Scotland, that would have meant selling a big part of their business, at a formative stage, hampering future growth and fundraising. Pleasingly, they saw the value in aligning with Seed Haus which allows them to hold on to a greater portion of equity and lay the foundations for a truly scalable business”.
Knox added: “We are granting startups some breathing room to build out their metrics and evidence preliminary traction. The opportunities we work with are at an early stage but they might have sold 20-25% of their business to reach the same goals without the framework of Seed Haus. In simple terms, we are helping startups to do more, with less”.
Seed Haus is especially keen to hear from founders with domain expertise. The average age of a founder in the inaugural Seed Haus cohort was 33. Seed Haus, which is a private entity, is the only accelerator in Scotland that provides investment which allows founders to cover their living costs. This capital injection has been key in supporting founders transition from full-time work to running their own startup.
Successful applicants will take up a place in the incubator alongside three more established startups held in high regard in the startup ecosystem – Seed Haus’ entrepreneurs-in-residence are: Callum Murray (Amiqus), Patrick Clover (BLACKBX), and Sarah Stenhouse (Pixey) who will lend peer support to the incoming startups.
Applications for cohort 2 close on Dec 30th and founders should apply directly through the Seed Haus website.