In what has been a turbulent year for most businesses at Nova we have received a record 4,300 applications from fledgling startup founders to join our tech startup programme. As a result we've now got a pipeline full of talented founders waiting to start building their startup with our support. To allow us to take advantage of this great opportunity to scale our operations, we're currently running a £1m crowdfund raise through Seedrs.
The economic turbulence and increased levels of unemployment experienced throughout the world this year has led to more people than ever to start their own business. With Companies House reporting a 47% uplift in new company formations and ourselves specifically reporting a 120% increase in applications to access our tech startup mentorship, development and investment services.
With increased demand for technological solutions and enterprising Britains looking to take advantage of new market opportunities, it is believed that tech entrepreneurs can drive the nation's much-needed economic recovery. Andy Davidson, Nova CEO explained:
‘’This year has seen our pipeline of high-quality founders wanting to co-found their business with us increase significantly. Our numbers have been up each month since April, with many applications coming from determined founders who have recently experienced furlough or lost their jobs due to COVID-19.
The founders and business opportunities we’re working through all have technology at their heart and are tackling both new market opportunities and industries that are ripe for disruption. We believe it’s presented a great opportunity for us to expedite our growth plans, with the right investment we’ll be able to provide more support, and help more founders to build successful tech businesses.”
If successful with the fundraise, our plans are to create more high growth technology businesses and accompanying jobs from our Liverpool HQ. The fundraise is being carried out on Seedrs and has already raised £850,000 out of the £1,000,000 target.