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This programme supports the next generation of product-focused entrepreneurs, helping them to develop crucial areas of their business to help with growth and production.
Located in West London, the Central Research Laboratory (CRL) is an accelerator, incubator and co-working space for hardware start-ups looking to create tech jobs and economic growth.
The CRL Hardware Accelerator will support firms through a five-month programme which includes a prototyping workshop, mentoring programme, workspace and in-house expertise. The initiative will help participants:
understand what their customers really want and what value their product brings;
get their product manufactured at the right cost and set-up supply chains for scale;
gain the hardware-specific funding needed, from grants to crowdfunding and angel investors.
The goal is to help participants launch their products in a way that allows them to grow a sustainable, profitable business.
Start-ups receive a £5,000 grant on entry, plus a fully-funded manufacture trip to Shenzhen, China or a relevant European manufacturer. The programme also supports start-ups to become investment ready, scalable businesses.
The standard terms for taking part in the CRL Accelerator are for an option to offer 3% equity in the business in return for £5,000 investment. The programme also offers a chance for businesses to pitch for further funding of up to £100,000.
Start-ups specialising in hardware can apply. Companies can range from many sectors including ‘Internet of Things’, and wearable technology to educational toys to robotics. The sponsor is looking for start-ups that are either at an early stage or currently going through the process of design for manufacture.
The deadline for applications for the winter Accelerator is 1 December 2019.
More information on the scheme can be found here.
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