The Proof of Concept Fund
‘Test the Market Prior to Trading’ 2013
Application form and guidance notes
INTRODUCTION
Are you a student or graduate keen to start a business, work freelance or become self-employed?
The Graduate Entrepreneurship Programme 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, that the
money will be reimbursed by the University. Please note that applications for activities that have already taken place
cannot be authorised.
ELIGIBILITY CRITERIA
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You are a University of Hull 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
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Work helping you assess the market for your proposed product or service
Promotional materials for a specific activity or event to help you further the business idea
Promotional activity for a specific event to help further the business idea
Essential materials for a specific need which will allow you to test the feasibility of your idea
Prototype development and testing
Intellectual Property Registration including patent and trademark applications
Purchase of specialist software( must demonstrate proven need and directly link to idea development)
Membership to professional bodies which will provide access to needed resource/s in order to further the
idea
Market assessment and research ( must demonstrate proven need and directly link to development idea)
Fees to attend a conference , exhibition or event where it can be demonstrated that attendance will help
develop / prove the viability of the idea further
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EXAMPLES OF WHAT THE GRANT CANNOT SUPPORT
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Equipment such as laptops, mobile phones 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
Marketing costs of a developed product or service
Activity that has taken place prior to ‘POC’ grant being approved.
Website development costs.
Purchase of ‘off the shelf’ software
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, Cottingham Road, Hull HU6 7RX or
email Elizabeth.Johnson@hull.ac.uk long 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 the Graduate Entrepreneurship Project Manager, business advisors and mentors at the
Enterprise Centre. They will decline, suggest re-applying with modifications, or refer the application to the Director of
the Knowledge Exchange who will inform you of the decision taken.
The fund was launched in November 2011 and remains open until all funds are exhausted.
Applications for this quarter need to be submitted by 30 September 2013 at 2pm. Applications are viewed quarterly.
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:
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For all amounts, explain why the supplier was chosen, provide 3 quotes and explain why the supplier was
chosen
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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)
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Funds must be spent by the date agreed (or the grant offer will lapse)
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Ensure that business activity undertaken is legal and ethical
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Provide a report on progress made and additional information in the future, if requested, for monitoring/audit
purposes
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Take advantage of using the Enterprise Centre’s facilities and business mentors
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Participate in the Enterprise events programme to help develop your idea
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Participate in promotional activity for the University of Hull where appropriate.
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PROOF OF CONCEPT FUND – ‘TEST THE MARKET PRIOR TO TRADING’- 2013 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
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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 all amounts money is required for explain why you have chosen that supplier and provide 3 quotes.
Please note if you use the same supplier several times, bringing the total cost paid to them over £50, you will need 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?
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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/2013
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APPLICANT’S DECLARATION
I apply for a Proof of Concept Award and confirm that;
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I plan for my business to be based in:
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I expect to operate:
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Tick if you operate in one of these sectors:
Hull area
East Riding of Yorkshire area
Business to business only
Business to business and
business to consumer
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:
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Print Name:
Payee Name:
Date:
Final Amount Awarded:
£
Tourism & Logistics – please refer to GEPM - Huddersfield
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