27 top graduate entrepreneurs from 15 countries around the world have been funded by the UK government to start business in the UK.
The Sirius Programme, run by the department of UK Trade & Investment, is a 12-month scheme that offers financial support, visa endorsement and business support to the world’s most promising startups.
Lord Livingston, Trade and Investment Minister, said:
“We are offering the most comprehensive startup support package in Europe and one of the best in the world.
“Ensuring that the UK becomes the country of choice for talented graduates to start and grow their businesses will help economic growth, boost productivity and create jobs.”
More than 1,500 graduate entrepreneurs from 93 countries entered in the first year of the programme, with 30 teams planning to relocate to the UK by June 2014.
Alexis Garavel, co-founder of SunEos – one of the winning teams – said:
“One of the key benefits of the Programme is that we don’t need to give up any equity.”
SunEos plan to develop a wearable Oyster card-style wallet that can be used to pay for anything. Alexis added:
“Young people are our early adopters so, with the most concentrated student scene in Europe, the UK is by far the best place to establish our business.”