FIVE start-up businesses have been chosen as recipients from a new fund set up to kickstart their growth.
The MK Tech Fund is being managed by the Milton Keynes Investors Group and has earmarked £7,000 to each of the fledgling businesses.
The fund, set up by Milton Keynes City Council, received a deluge of applications and was oversubscribed by 1,000%, MKIG says. It launched the competition to find the most deserving businesses last year.
MKIG is the largest not-for-profit angel network in the UK and provides a free pitching platform for founders. Its co-owner Amar Chauhan said: “When we heard the council wanted to put this scheme into place, we immediately knew it would have a massive impact on local start-ups and their ability to grow into impressive tech businesses. We have been advocating Milton Keynes as a place to raise start-up funding for years nd we think it is only going to get more and more popular with founders looking for a supportive community to help them in their entrepreneurial journeys”.
The five businesses chosen are:
Indi Local A newly launched app promoting street food trucks and local pop-up events. Founder Vanessa Anderson said: “ Our mission is to make it easier than ever to find and support local street food businesses, so the MK Tech Fund is the perfect partnership for us as we share the same vision to boost the local economy.”
Clera Healthcare A doctor-founded app used by healthcare staff to give families the communication they need while a relative is in hospital. “The £7k will make such a difference,” said founders Jonathan Abeles and Alice Appleton.
Traxc A marketing toolkit to help businesses to understand customer behaviour, drive positive reviews and increase customer loyalty. “We are poised to accelerate our growth, enhance our product offerings, and expand our reach,” said founder Luc Gibson. “This grant not only validates our efforts but also strengthens our commitment to delivering innovative solutions that drive sales and improve customer engagement.”
Zeroox Helping people find the right home through digital house viewings and searches. Founder Carina Xinxin Chen said: “The MKIG Tech Fund will be absolutely crucial in the growth of Zeroox. It is more than just financial support; being associated with MKIG will open doors and strengthen our brand.”
RavePool A DJ record pool for independent music artists. The MK Tech Fund provided us with a fantastic opportunity at the right time to turn our innovative idea into a new business,” said founders Keith Williams and Dave Curran. “Milton Keynes is proving to be a great place to start a new tech company.
One will win a further £5,000 in grant funding as part of a big pitch event on June 17 organised by MKIG. The winning business will also have the opportunity to raise further funds from MKIG’s network of angel investors.
The tech fund forms part of the city council’s £3.5 million Economic Recovery Plan, which it has used to support hundreds of businesses and local employees and entrepreneurs following the pandemic.
