The Launch 20 initiative is our earliest pre-seed investment initiative, to help companies experiment and validate their idea.
Launch 20 will make investments of £20k into high growth potential companies and is designed to enable founders to generate early traction and demonstrate confidence in their business idea. This investment could support companies to develop their technology or prototype, validate their idea with a customer, or make initial commercial progress.
The awards will be made via an Advanced Subscription Agreement (ASA) which will see our investment convert into shares at a future equity funding round. ASAs are commonly used at the pre-seed stage because they are simple, fast and avoid the complications of priced equity funding rounds.
The full legal documentation of our template ASA (a draft offer letter and a schedule of terms and conditions) is available here.
You can apply for Launch 20 funding if you are appropriately associated with the University of Edinburgh and the founder of a pre-seed company that has raised less than £250k of investment since incorporation.
You should be able to commit sufficient time to develop your business in line with the milestones in your application.
The deadline for submitting an application is midnight (12am) on Sunday 12th November 2023.
The Launch 20 initiative offers a range of benefits for early-stage companies.
Successful applicants will have access to: