How to Apply
Pre-application
NStar will be running a number of pre application seminars around the region to encourage applicants to the fund. All businesses which have been trading for two years will be required to conduct an online and telephone based diagnostic. This diagnostic will provide a report on the commercial health of the business. At this point those companies without a sponsor who wish to apply will be pointed to appropriate sponsor organisations. Applicants are asked to develop their application with a sponsor who has relevant commercial expertise to support the idea. Sponsors can have sector experience such as e.g. Digital City, Codeworks, Generator etc, or business development experience e.g. Business Link.
What happens once my application is submitted?
An investment manager will be appointed and you will be invited to a meeting to discuss your idea with them. The investment manager will then carry out basic due diligence, involving external experts where appropriate. Wherever possible, the investment manager will provide constructive feedback as soon as possible.
If the proposition is rejected, we will provide feedback and recommend further business support agencies.
If the investment manager is supportive of your idea, there may be a need to develop a full business plan prior to recommending the proposition to the NStar Investment Panel on your behalf. If the Investment Panel approves the application, the investment manager will prepare an offer letter. After the standard legals are completed and the money is transferred the investment manager will hold regular review meetings with you to discuss progress against milestones and budget.
Applicants will also be assisted with routes to further funding if appropriate.
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