We’ve answered a few frequently asked questions about First Steps funding. Have a read through and if you think your business would qualify and you want to apply for a grant, book onto one of our Group Business Coaching Sessions. When you have attended your session, download an application form from the bottom of the page.
When is the next Group Business Coaching Session?
What does ‘Proof of Concept’ mean?
‘Proof of Concept’ is evidence, which demonstrates that your business model or idea is feasible. In order to get this evidence, you may need to do some market research or run some tests to make sure that your business plan works. The initial First Steps grant of £250 can help to fund your evidence-gathering methods and/or the basic start-up of your business.
Who can apply for the First Steps grant?
To apply for this funding, you must either be a current student at the University of Sheffield or a graduate within the past five years. First Steps is not currently open to international students (outside the EU) due to visa restrictions.
I have a business partner. Do they have to apply as well?
No. If two or more people are working together on the same idea, only one of you needs to fill out an application form. The person who applies MUST be a student or graduate of The University of Sheffield and meet all the set criteria.
What happens once I’ve proved my concept?
To apply for the Growth Fund of £750, you MUST have registered with HMRC, have been trading in profit for at least three months, be able to prove this and be able to provide a financial forecast for the next 12 months.
Is there a catch?
No catch, but if you have any questions, please do not hesitate to contact us at enterprise@sheffield.ac.uk