We’ve given out £4m to over 500 businesses
Virgin StartUp has funded over 500 new businesses in England giving out over £4m in the process. Drill into that and you’ll find some incredible stories of inspiring people overcoming the odds to turn their dreams into a reality.
From 18 year-old, David Humspton, who took a £9,750 Virgin StartUp loan to launch his own extreme sports video venture, rather than be saddled with a student loan three times that amount, just to study the theory behind business. Or there’s 73 year-old Dennis Booth, who instead of slipping quietly and tediously into retirement, decided to use his time to launch his own removal firm.
Some of these 500 entrepreneurs used the backing of Virgin StartUp to go off and woo investors for further cash, like Carl Thomas from MiPic, who secured an extra £174,000 after receiving a £25,000 Virgin StartUp loan. While others put it towards bricks and mortar, like Zara Neild who used her Virgin StartUp loan to open her first cake shop in Manchester – she now has two.
Each one of these businesses are contributing to the UK economy, some are employing others and many are already turning a profit. But regardless of what stage their business is at, the part we’re most proud about, is that thanks to Virgin StartUp there are now over 500 individuals who’ve been given the confidence and validation to take a shot at their idea. Here’s to the next 500.
The 500th business we've funded is
Business: The Steam Machine Brewery
Founder: Nick Smith
Elevator Pitch: Craft beer keg brewery