Invitation to tender for the provision of state aid advice for Falmouth University's ERDF LaunchPad Post-Graduate Business Incubation Programme.

Description

In order to attract high-quality investment into Cornwall and retain a greater proportion of graduates and entrepreneurial talent within the region, Falmouth University submitted, and was subsequently awarded European Regional Development Funding (ERDF) to deliver a large-scale graduate business incubation and acceleration project. Since the main programme commenced in July 2016, it has created over 31 new companies and 75 new jobs. The project includes two key phases with multiple entry points: • Phase 1 - Launchpad pre-incubator (3-12 months) - ideation to incubation: During this intensive pre-incubation phase, graduates enter the Launchpad programme. Challenges are identified linked to real market opportunities; teams are formed and support via dedicated delivery team is provided. This phase has multiple entry points: o Full 12-month MSc route, o Module based academic pathway, o 3-month Summer School post graduate pathway which can then further enhanced through to full MSc or module based academic pathway, o Bespoke Games path - 6 -12-month Post graduate programme where teams develop a studio and pitch able game prototype o External path - 1-3-month assessment path for external candidates with a scalable business idea. • Phase 2 - Launchpad high-growth incubator and accelerator (12+ months): The new businesses will then incorporate and enter an intensive incubation and acceleration phase. This will provide the companies with bespoke support from industry specialists, dedicated staff, and potential business partners to maximise their growth potential for the long-term benefit of the local economy. The funding also enabled the construction of a bespoke building to house the Launchpad graduates and businesses.

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