Proof of Concept Fund
2011/12
Application form and guidance notes
Introduction
Are you a student or graduate keen to start a business, work freelance or become selfemployed?
We can help you by providing some funds to allow you to prove that your idea is sound.
Please understand that this is not a business start-up grant to establish your business; the
aim of the fund is to prove the concept, i.e. research, develop, test or advance your business
idea which helps inform and establish its commercial potential.
The fund will make awards of up to £500.
Successful applicants will be reimbursed for appropriate expenditure upon submission of proof
that the money has been spent in accord with this application. You will receive a certificate
confirming the award to assure you, and possibly others, that the money will be reimbursed by
the University.
Eligibility Criteria

You are a University student or graduate (within the last seven years)

You must be a citizen of a European Union country

You must not have previously received a Proof of Concept grant for this idea

You must be planning to operate locally or at least in the Yorkshire area

You have not yet started trading
Examples of what the Grant can support

Work helping you assess the market for your proposed product or service

Promotional materials which help you further your plans

Essential materials and equipment (evidence of specific rather than general need must
be demonstrated) which will allow you to test the feasibility of your idea

Prototype development

Professional or other development services

Travel, fees and subsistence for a training session, conference, exhibition or event
where you can demonstrate how it would develop your business objective.
Examples of what the Grant cannot support

Equipment such as laptops which have general rather than specific benefits

Items needed to actually start up in business e.g. rent, machinery, website, wages,
stock, marketing of a finished product

Items to develop an existing business idea
Application and Assessment
Complete the application as fully as possible with actual costs not round amounts.
Applications should be submitted to the University of Hull’s Enterprise Centre or
enterprise@hull.ac.uk along with any supporting material which you feel will help your case.
Electronic submissions can be signed later provided they arrive before the deadline. Replace
the filename ‘Blank’ with your name or project name.
The process is competitive rather than simply ‘first come – first served’ – only suitable
applications will be approved. Applications are considered by staff/mentors at the Enterprise
Centre.
They will decline, suggest re-applying with modifications, or recommend the
application to the Enterprise Manager or Director, Knowledge Exchange who will inform you of
the decision taken.
The fund was launched in November 2011 and the deadline for applications is Monday
23rd January 2012, 2.00pm.
Conditions of Funding
All recipients of funding will be required to enter into a written agreement with the University.
This will include the following requirements:

For amounts between £50 and £99, explain why the supplier was chosen

For amounts in excess of £100, provide 3 quotes and explain why the supplier was
chosen

If paying cash, provide receipts proving the money was spent on the items identified in
the application form. If paying by cheque or debit card, provide receipts and matching
bank statement. Credit card payments cannot be used for this grant system.

Funds must be spent by the date agreed or the grant offer will lapse

Ensure that business activity undertaken is legal and ethical

Provide a report on progress made and additional information in the future, if requested,
for monitoring/audit purposes

Take advantage of using the Enterprise Centre’s facilities and business mentors

Participate in the Enterprise events programme to help develop your idea

Participate in promotional activity for the University of Hull where appropriate.
Proof of Concept Fund
2011/12 Application Form
Business/Project Name:
University:
University of Hull – which campus?
Which University
School/Department?
Contact Name(s):
Address:
E-mail:
Phone:
Are you applying for funding from anywhere
else? If so, please provide details and amounts:
Amount Requested:
(Maximum £500)
How did you hear about this grant scheme?
Brief Project Summary
The Idea
What is the business idea or self-employed role? Who will your customers be? How is it proposed to develop the concept into a commercial proposition?
Programme of Work and Project Costs
List the activities you wish to obtain funding for and the cost of each item. Costs must be specific, not round amounts. For amounts over £50, explain why you have chosen that
supplier and, for over £100, provide 3 quotes. Give timings and deadlines. Most importantly, explain how the use of the funds will move your idea forward.
Additional Resources
What other resources, not funded by this application, are required to develop the business idea? What personal time commitment is going to be allocated to this venture?
Market Need
What is the market? How big is the potential market? Is the market growing? Who are the existing players in the market? How will you enter the market?
Risk Assessment
What are the risks associated with the project and what contingencies will you put in place to address them?
Project End Date
By what date do you expect to have completed this Proof of Concept project and be able to provide all necessary quotes/receipts and proof of transactions?
dd/mm/2012
APPLICANT’S DECLARATION
I apply for a Proof of Concept Award and confirm that;

I plan for my business to be based in:
Hull area
East Riding of Yorkshire
area

I expect to operate:
Business to business
only
Business to business and
business to consumer

Tick if you operate in one of these sectors:
Elsewhere in Yorkshire
Creative and Digital Industries
Environmental Technologies
Advanced Engineering and Metals
Healthcare Technologies
Food & Drink
Financial & Business Services
Chemicals
Tourism or Logistics
If selected, I will co-operate with the University in respect of publicity and provision of information for future students and ongoing monitoring and audit purposes. I understand that the
grant may be withdrawn if, in the opinion of the University, I fail to develop my business or self-employment idea properly in accordance with this application. I understand that the
grant offer will lapse if the money is not spent by the agreed date. I consent to having this information held within the University’s databases for monitoring and reporting purposes.
Signed:
Print Name:
Date:
For University Use Only
Enterprise Officer/GE Project Staff Comments (plus signature and date):
Enterprise Manager or Director, Knowledge Exchange (Approval signature and date):
Proposed end date review:
POC Project review/closure signature:
TEST NAME
Print Name:
Payee Name:
Date:
Final Amount Awarded:
£ 0.00 TEST