‘Proof of Concept’ is evidence, which demonstrates that your business model or idea is feasible. In order to get this evidence, you may need to do some market research or run some tests to make sure that your business can work. Once you’ve carried out your market research and you can show your business idea is commercially feasible, you can look to the grant to help start the business by overcoming impediments such as the need for insurance, licenses, professional fees, etc.
£500 to help fund your business idea
Our Proof of Concept Fund can provide successful applicants with up to £500 to help establish whether or not business idea is feasible.
The grant can be used for many different types of market research expenses (marketing, prototypes, legal requirements) or to help overcome specific roadblocks to help you start your business faster. The application process is designed to be short, simple and supportive. In the last 12 years we have awarded over 180 grants to Leeds Beckett students and graduates.
Find out how Proof of Concept funding helped Hamiltons Club test their idea.
If you would like to apply for Proof of Concept funding please book an appointment to discuss your idea with our Business Advisor in more detail.