FAQ



Unlike other accelerator programs, IdeaHub offers you the opportunity to build up your business idea while getting access to markets, client contracts and revenues by working directly with some of the world’s biggest brands.





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FAQ

Unlike other accelerator programs, IdeaHub offers you the opportunity to build up your business idea while getting access to markets, client contracts and revenues by working directly with some of the world's biggest brands.

I don’t have a startup, I’ve just got an idea… is IdeaHub appropriate for me?

Sure. We love great ideas and can help you take your idea and turn it into a startup.

We've already been working on our startup for a while. Is IdeaHub appropriate for us?

Yes, it certainly is. We know it takes time and effort to get a startup off the ground and the journey to find funding can be long. Our focus is to take those startups selected and move them on to their next stage of development, whatever their starting point.

I’ve not heard of IdeaHub before, who is behind it?

The venture development firm, VentureBright operates IdeaHub. Venturebright is based in London and runs a range of challenges for corporate clients around the world. Find out more about the team. Contact us by phone or email.

Do you accept applications from anywhere in the world?

Yes, we do. Previous applicants have come from across the globe.

We've already taken some funding. Can we still apply?

Sure. You may have had funding to get you where you are today, but our focus is to help you get to the next stage of development.

We don't want funding, but will you give us advice?

Unfortunately we can't provide ad hoc advice, working with the startups coming through the IdeaHub takes up all our time. However if your startup or idea fits one of the current challenges on the site, please apply and if your idea gets taken forward, advice is part of the package.

Can you recommend other investors who might be interested in our idea?

When you refer someone to an investor, you're also recommending them, and you can't recommend people you don't know. If you're looking for investors, your best bet is to find friends of friends who've started or worked for startups, and ask for intros to their investors.

How much do you invest?

We target £25,000 per venture to get you started, but it could be more or less, depending on what’s required for your business. The goal is usually to give you enough money to build an impressive prototype or version 1, which you can then use to get further funding to build out your business.

We don't really need the money. Does it still make sense to apply?

Many of the innovators who apply don't need the money. And in fact the money is a only a small part of what IdeaHub does. The money we invest ensures that the people who do need money can cover their living expenses while our accelerator is happening; it's enough to get you started. The real value comes in being able to gain access to our network of partners, customers and markets, and working directly with some of the world’s biggest brands.

What if we're doing something expensive?

We'll still fund you, but instead of trying to build something launchable in three months, the goal becomes to build an impressive proof of concept so we can see what we'd be investing in.

Do we need to write a business plan?

Not for us. We make funding decisions based on our application form and personal interviews. We love demos, but we never read business plans.

Can a single person apply for funding?

Yes, but the odds of being accepted are lower. A startup is too much work for one person.

I have a great idea for a startup, but I'm not technical. Will you still fund me?
Can you help me find programmers to implement my idea?

We'll consider funding you, but your chances are about ten times better if you find yourself a technical cofounder. It's much better if you find one yourself through friends of friends than if we introduce you to someone. Teams thrown together for the purpose of starting a startup usually fall apart under stress. You need some kind of personal connection.

Our group has two ideas. Can we submit two applications?

Ok. Just submit them from the accounts of different founders.

Do you only fund startups that write software?

No, we'll consider startups in any field.

Will you sign an NDA? How do I know you won't steal my idea?

No, we won't sign an NDA. No investor would at this stage. We ask that you do not disclose any confidential information in your application. Only provide information about your business which is either already in the public domain or which you are happy to share. The informal commitment to secrecy on our application form is more than any VC would make. If your pitch is successful and we invite you into the accelerator program, we’ll discuss terms and IP rights with you.

I'm starting a startup. Can I meet with you?

Unfortunately we can't meet in person with every startup that wants us to invest. There are just too many. Essentially the IdeaHub application process is the way we decide which of them to meet in person.

Will someone from IdeaHub review my startup idea?

Unfortunately we can't have conversations with everyone about their ideas. If you apply and we invite you to interviews we'll certainly talk about your idea with you though.