International Trade Minister Welcomes New Sirius Recruitment Round
The Sirius Programme was launched by UK Trade and Industry (UKTI), now the Department of International Trade (DIT), in 2013 to promote the UK as a destination for young entrepreneurs looking to locate promising new companies that would create jobs and economic benefits across the UK.
To date, Sirius has attracted over 2,300 gifted and ambitious individuals from 93 countries to apply for the programme, leading to 73 new companies being established in the UK.
The Sirius Programme is now being led by a consortium of private and charity sector organisations to facilitate its growth and development.
The support programme will be run on a not-for-profit basis and seed funding for the startups will be sourced from UK private investors, with the opportunity to benefit from HM Treasury's Seed Enterprise Investment Scheme (SEIS), with the expectation of a strong investment return given the calibre of international startups and the support they will be able to access in the UK.
The consortium includes The Accelerator Network, Entrepreneurial Spark, NACUE, Natwest (part of the Royal Bank of Scotland Group), The Rain Gods and White Horse Capital.
Participants in the Sirius programme receive a complete package of services to maximise their potential for success. This includes seed funding, acceleration training, mentoring, twelve-months office accommodation and support in obtaining visas where needed.
Welcoming the announcement, the Rt Hon Greg Hands MP, International Trade Minister, said,
“The Sirius Programme has been instrumental in attracting talented young entrepreneurs from all over the world to come to the UK to start and grow their businesses, making a vital contribution to our economy. On my previous visit to RBS’ headquarters in Scotland, I saw first-hand the difference that accelerator programmes can make to young, innovative entrepreneurs and their businesses.”
“I am pleased this successful Programme will continue. Not only will entrepreneurs benefit from this new partnership, as a result of the invaluable private and charity expertise the consortium will provide, it will help to ensure the UK remains the number one destination in Europe for entrepreneurs.”
Timothy Barnes, Chairman of the Sirius Programme added,
“The development and growth of the Sirius Programme underlines our confidence in the reputation of the UK as a leading global destination for young entrepreneurs. There are some incredibly ambitious entrepreneurs with great business ideas that would benefit from being based here and we are keen to hear from them all!”
Applications for the new format programme are open now and the first cohort to be selected before the end of the year.