Ascension Ventures teams up with School for Creative Startups
Doug Richard’s School for Creative Startups and Ascension Ventures, the investment arm of creative and digital sector investment and business services group Ascension Media Group, have formed a partnership which will see graduates of the school receive funding and business support to get their new enterprises off the ground.
Founded in 2011 as an offshoot of his School for Startups, School for Creative Startups is designed to teach creative people how to actively build successful start-ups and live from their endeavour. A hands-on teaching programme for early stage creative businesses, the School provides tuition in the form of bootcamps, workshops, surgeries and through digital tools and advisor support.
Under the terms of the tie-up, Ascension Ventures, which recently opened the first Seed Enterprise Investment Scheme (SEIS) fund in the UK, will have an option to invest in the new businesses founded by the school’s graduates and which have been developed and prepared for investment by Richard and his team.
Richard says: “SEIS is potentially one of the most extraordinary incentives ever created and could drive the greatest surge of new businesses in Britain’s history. Our tie up with Ascension Ventures will be a powerful and important one because it will result in creative startups that are now skilled and empowered to succeed by giving them vital funding to grow their businesses.
"We already have a number of excellent businesses signed up to the School for Creative Startups programme this year that could really benefit from external funding. School for Startups is focused on helping to drive growth through training entrepreneurs to avoid the pitfalls that can result in business failure, and Ascension Ventures will help us to achieve this goal.”
Sanjay Wadhwani, chief executive and founder of Ascension, says: “I am delighted to be working with Doug and School for Creative Startups. Doug and I share the same vision for encouraging and developing entrepreneurship in the UK, providing talented creative entrepreneurs with the skills, knowledge and expertise that they need to maximise their chances of success. I have been a mentor on his excellent programme this year and have already identified at least one exceptional opportunity in addition to the others we have already earmarked for investment. This partnership establishes another proprietary pipeline of opportunities that Doug and his team will oversee, knowing that when they receive investment from us they will continue to be in good hands.”
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