Investment
Technology incubator SETsquared Bristol, led by the University of Bristol, is relaunching its Breakthrough Bursary for the fourth year, continuing its commitment to tech inclusivity.
The bursary is for UK tech entrepreneurs from a minority ethnic background, providing access to tailored business support at heavily discounted rates. This includes coaching and mentoring, advice clinics, events, skills and training workshops and support to raise investment.
Awardees also benefit from SETsquared’s supportive community and three months free access to desk space in a shared office at Engine Shed.
The initiative is kindly funded by SETsquared Bristol alumni members and the University of Bristol.
Fourteen companies have been recipients of the bursary to date including South West-based startups FluoretiQ, Gritty Talent and LatchAid, and have raised a combined £2.7 million in investment.
Inclusivity tracking tool Inclued was one of five bursary awardees in 2021. Inclued founder and CEO Joyann Boyce (pictured) said: “My experience of the Breakthrough Bursary has been nothing but positive.
“As an entrepreneur you often feel like you are out there on your own, but SETsquared Bristol provides a supportive community of founders at all stages.
“Access to the Entrepreneurs in Residence has been fundamental to mapping out our investment strategy.”
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Since SETsquared Bristol launched the Breakthrough Bursary in 2019, companies at the incubator with founders from a minority ethnic background have increased from 14% to 24%. This compares favorably to the UK average where less than 9% of senior tech leaders are from a minority ethnic background.
“Inclusive and sustainable growth is more vital than ever in our current climate,” said Marty Reid, SETsquared Bristol director.
“Our ambition is to work towards leveling the playing field for minority groups within the tech sector by improving access to support, investment and networks. We look forward to welcoming new awardees with exciting ideas to our community.”
Another of last year’s bursary recipients, Ali Kazmi – founder of the UK’s first dedicated, ethically compliant investment platform Ethical Equity – said: “Being part of SETsquared Bristol via the Breakthrough Bursary has been instrumental to our success. In particular, having access to market/founder insights and SETsquared’s extensive network.”
Any UK-based entrepreneurs from a minority ethnic background can apply for the Breakthrough Bursary if they are developing a tech startup, or growing an existing company.
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