If you have any additional questions that have not been answered here please don't hesistate to contact us
Neither. We have taken the best elements from accelerator and incubator programmes and added several additional features that make our offering unique. Our programme is specifically designed to address and nullify the top 5 reasons for startup failure. Our process is called a ‘co-foundery’ and the key elements of it are:
We start early - we focus on working with startups in their very early stages, often at ideas stage, when there’s little other support available from investors, accelerators or incubators
We don’t ask for any financial investment from you
You can do this part time - we ask for just 1 day a week during the first 12 months. This can be done remotely and around your existing work commitments
We provide an experienced team to build and launch your startup for the first twelve months
We share the risk and the reward - rather than charge a fee for our services, we share equity in each of the startups we co-found
You can read more detail about what makes our model unique here
No. This is normal for all investment funds and angels alike. We've written an article that explains our viewpoint, and some context as to why here.
The best approach is for you to apply for our programme discussing the problem you have found that you want to solve, this is where we asses value - you don’t have to cover the specific detail of the solution, as it will likely change throughout the first 12 months of our process anyway.
Yes. We are fundamentally a company with technical expertise in the startup process for software and hardware solutions. We only engage in partnerships with founders if the problem you are attempting to solve can have a tech based solution.
You should apply for our mentorship and investment programme, where you will be required to outline the problem or opportunity you seek to explore with your startup. Once you have completed this, a member of our mentorship team will be in touch to give you an update on the next steps. Please fill out the form here.
In the event of failure, we have one of two options. You as the founder can call it a day and accept that the idea did not work and continue to work in your day job, or you can start the programme with us again if an alternative problem has been uncovered throughout the process. Remember, there is no financial risk for you during our process and all you will have lost is the time spent working on your idea.
As part of the NOVA deal, we request that our founders give up 1 day a week to work on their business idea. However, we advise our founders it is likely that this will extend into some evenings and weekends as well during the first 12 months. A key benefit of co-founding your startup with NOVA is that you can do it alongside your existing work commitments, maintaining a regular income.
Our process starts from the very beginning, developing early stage startups using our proven methodologies and processes to give them the best chance of success. We hesitate to put founders directly in front of our investors if Nova have not been involved in validating the problem being solved. This is because our investors want to see pitches that have followed our process.
If you are happy to re-explore the problem your startup is centred on by going through our process, or an expedited version of it, there could still be an opportunity to work together.
If you’re successful in receiving investment for your startup we will raise enough money to give you full resource of the Nova startup team for 12 months; over two raises. This can be upto an equivalent of £300k investment into the resources that will be used to build and launch your startup.
Not for the first 12 months. However during this period our process requires just 1 day per week of your time which allows you to build and launch your startup whilst keeping your current job, and salary coming in.
The NOVA programme does not require any capital investment from you. This means that it’s possible to build and launch a startup without you spending any of your own money.
We have an experienced team of designers, hardware and software developers, business consultants, product owners, financiers, marketeers, videographers and more. All of these services are available to our startups post investment. We build startup teams, specific to the individual needs of your startup, designed to build, launch and progress your startup as much as possible in the shortest amount of time. You can find out more about our team here.
No. All we ask of our founders is that you have strong domain understanding (i.e. if you wanted to develop a product for teachers, you should have a thorough understanding of the teaching and education sector) and display the characteristics of a great tech founder. We have a full technical team available to build both hardware and software products, effectively we become your technical co-founder (plus much more).
If you join our programme at ‘explore’ stage, no (most of the time*). For many founders our resource provision is a huge benefit and a key reason they choose to partner with us. We insist on using our in-house resource for the first 12 months of our programme to deliver the following benefits:
Double the value. We price our team at half of what you’re likely to pay if you were to employ an external agency or team to deliver the same services i.e. a £150k investment goes twice as far as if you were to source agencies that offer the same skill sets and experience.
Our team are experienced startup experts. We employ a team of over 140 developers (hardware and software), designers, marketers, mentors, product managers and financiers with specific experience in building and launching tech startups. This allows us to quickly construct an experienced team bespoke to the requirements of your startup.
It saves you time. In the first 12 months of your business your resource is going to be spread thin, we need you spending time where you can deliver most value to the business. Our approach stops you from having to find, evaluate and manage an external team; allowing you to focus on working with customers and users, running experiments, validating your ideas and feeding insights back into the product development.
Our teams are vested in your success. We become equity partners in your business, our business model and success is based on the startups that we’re working on being successful. This isn’t true of most suppliers, as long as they get paid, have no skin in the game to ensure that they’re building the right thing.
Additionally we should clarify that this does not limit you in terms of decision making or direction. We provide the team and framework to support you and help you avoid making mistakes.
When you transition into the ‘growth’ stage of your business (post 12 months) you have the opportunity, if you wish, to utilise resources and suppliers external to Nova.
* In the rare case that our extensive development team aren’t best placed to develop the technology and solution required we work with you to find suitable external suppliers "
Our programme can be delivered remotely, either 100% or with regular visits to one of our office spaces in the UK. We have successfully built startups with founders based across the UK and internationally. The only limitation to this currently is that we ask that our founders are able to commit to visiting our HQ in Liverpool when pitching to our investment panel.
We have co-founded almost 100 businesses that have received investment from our cofoundery process, spanning multiple sectors including digital health, ed-tech and Fin-Tech and more. Check out some of our case studies or if you require any professional references a member of our mentorship team would be happy to provide a list of contacts who can provide these.
Check out some of our portfolio businesses or if you require any professional references a member of our mentorship team would be happy to provide a list of contacts who can provide these