Our aim is to create a culture in which individuals with business ideas have the confidence and means to create high growth start-ups.
If you can meet the requirements set out here, you may be eligible to join High Potential Startups:
- You have a great business idea, based on a clear market opportunity, industry knowledge, technical expertise, business expertise and/or an established customer base.
- Your business hasn’t started yet or it has been registered and is pre-revenue, which means you have not yet begun trading.
- You have clear targets and goals for your business and believe that your business has the real potential to grow quickly and sustainably to achieve a turnover of more than £1m or more by the end of its third year of trading.
- You expect that you will start to employ people in the first year of trading and that by the end of the third year, you will have created four or more jobs.
- You are a resident of one of the seven local authorities in the North East LEP area (Northumberland, North Tyneside, Newcastle, South Tyneside, Gateshead, Sunderland, County Durham) that make up the North East LEP area.
- You will establish your business within the North East LEP area.
- Your and/or your business meet state-aid criteria, which means you haven’t received more than 200,000 Euro in state aid during the previous three years.
Places are limited. Successful applicants will be those who the judging panel feel have the strongest growth potential.
Business ideas will be chosen because the panel believe they have the potential to achieve a turnover of £1million or more by the third year of trading.