Council offering funds for local start-up businesses

(Photo - Tom Heaney, nwpresspics)
(Photo - Tom Heaney, nwpresspics)

Business start-ups in Derry and Strabane are being encouraged to grasp a unique opportunity to avail of financial and business support as part of the local Council’s £10k Business Challenge.

The competition is aimed at those thinking of starting a new business or who have done so but have and not yet registered on the Go for It programme, and each business can get assistance of up to £2,500.

The Council said the challenge, now in its third year, has been a huge success in rewarding and acknowledging the creativity and innovation shown by local enterprises.

Speaking at the launch, Mayor John Boyle said the project is a fantastic way of developing local businesses and giving business start-ups a helping hand.

Louise Breslin, Council’s Business Development Manager, said: “The Council’s Business Development team are committed to developing and expanding our existing business base and entrepreneurial activity is a critical driver of economic prosperity.”

The prize fund of £10,000 is broken down into seven cash prizes of £2,500 for the prizewinner, £2,000 for the second prizewinner and £1,500 for the third prizewinner with three runner-up prizes of £1,000 as well as a £1,000 student prize.

In addition to the cash prizes, the Council is working with a range of partners including Northwest Regional College, Ulster University, Intergrade Ireland, Invest NI and other support providers to establish a package of support for all the winners.

The closing date for entries is 12pm on Monday February 4, 2019.

The application process involves an application form which will be reviewed by a panel of five judges who will shortlist seven businesses to pitch their business idea at a winners’ announcement event, which will be held as part of Enterprise week on Thursday March 7 next year.

Applications are open and can be accessed via Derry City and Strabane District Council’s website at www.derrystrabane.com/10Kchallenge.