Start-up grant, equity, plus access to expertise, a workspace, equipment and technical support is available to 12 UK based hardware start-ups.
Each team receives free office space, 24/7 access to high-end prototyping labs, a £5,000 grant and deep commercial and product development expertise. In return, the CRL takes 6% equity in each company.
CRL startups are provided with an unrivalled package of support. For nine months, successful applicants will receive:
- Daily support from a team of in-house designers and manufacturing experts.
- Access to expert mentors, dedicated to helping the applicant grow their business.
- Regular workshops and master classes from successful designers and entrepreneurs.
- An events programme.
- Membership of a pioneering community of hardware entrepreneurs.
- 24/7 access to a bespoke workspace at the Old Vinyl Factory in Hayes, West London.
- A wealth of prototyping equipment and technical support.
- A chance to learn firsthand about manufacturing, supply chains and distribution during a trip to a local, European or Asian manufacturer.
- £5,000 grant per business to support start-up costs.
- Access to key investors and practical help with raising funding.
This is in return for a 6% equity stake.
The CRL Hardware Accelerator aims to support 12 hardware start-ups through a nine month programme which includes a prototyping workshop, mentoring programme, workspace and in-house expertise.
The programme has two phases; Acceleration (three months) and Runway (six months). The Acceleration phase focuses on business and product development, and the Runway on design for manufacture and investor readiness.
The Runway phase also includes a two week trip to Shenzhen, China as well as visits to UK and European manufacturers.
The programme culminates in the CRL Hardware Showcase – an opportunity for all teams to present to an influential audience of buyers, investors and prospective partners.
Although there are no restrictions stipulated in the scheme guidance, applicants are advised to contact the funding provider directly to discuss any exclusions.
Startups specialising in hardware can apply. This may include a diverse team of technologists, designers, musicians, physicists, biologists, toymakers etc.
Each team must have the following:
- A working prototype.
- Two or more founders in the team.
- The desire to build a scalable physical product business.
- A product or business model displaying genuine innovation.
Match funding is not a stipulated requirement of this scheme.
Costs associated with producing the products.
The deadline for applications to this scheme was 1 August 2016. Any further rounds will be reported if available.
Shortlisted applicants will then be asked to fill in a detailed questionnaire with more information about their product. Successful teams will be invited to a Pitch Day on 18 August 2016.