Deadline: 18 March 2024
10th Bridge is excited to announce an entrepreneurship competition designed to identify and invest in the most promising young entrepreneurs between the ages of 18 and 25.
The competition is structured over four stages, with each stage designed to identify the most promising entries, culminating in a final event where one winner will be awarded a £25k investment in a new entity as an equal partnership with 10th Bridge.
10th Bridge is committed to using its experience to establish the start-up in equal partnership with the winning entrepreneur, ensuring a successful launch and operational setup. As part of the commitment to honouring Richard Hallt’s memory, 10% of the future net profits will be donated to UK Youth.
What happens after the competition?
- Your business will be set up as a new entity between 10th Bridge and yourself. This means you will own 50% of the business and 10th Bridge will own 50% of a newly created limited company registered in the United Kingdom (“NewCo”).
- The investment of at least £25,000 will be invested as capital in NewCo.
- As part of the partnership, 10th Bridge will share its finance and operations infrastructure with NewCo and provide ongoing mentorship and support to you.
- NewCo will commit 10% of net profits to be donated to UK Youth for an indefinite period to support their continued youth work.
- The operating terms of NewCo, including but not limited to roles, responsibilities, and equity distribution, will be detailed in a separate shareholder agreement, to be agreed upon and signed by both you and 10th Bridge.
Eligibility
- You must be between the ages of 18 – 25 at the time of application.
- You must have the Right to Work in the UK.
- You usually have the right to work if you possess the following: British Citizenship, Indefinite Leave to Remain or Enter, Irish Birth Certificate, Irish Citizenship, and pre-settled or settled status from the EU Settlement Scheme.
- 10th Bridge will ask you to provide evidence of your Right to Work at later stages of the competition.
- Your business will be based in the UK and benefit the UK economy.
- If you win, you will be able to dedicate yourself full-time to starting and running your business after the competition.
For more information, visit 10th Bridge Consulting.
