The Dyers’ Company has launched a new Seed Capital Investment Fund designed to support innovation in, and the commercialisation of, business ideas with a link to colour or colouration. The deadline for applications is 28th February 2023.
The Dyers’ will consider initial investments of up to £25,000 per venture for fledgling businesses and entrepreneurs seeking to transform their innovative ideas into successful businesses. The initiative is relevant to a vast range of industries/activities with a connection to colour and colouration including colour chemistry and science, food technology, healthcare (e.g. medical dyes), engineering, sustainable dyeing, textiles production for fashion and interiors and much more.
Over time it is hoped that this fund will enhance the economic impact of colouration in the UK by the creation and ongoing support of new businesses, providing vital resources and mentoring for colour and colouration practitioners from across industries.
Traditionally the Dyers’ Company has supported academics and students in their field with grants, bursaries, and prizes – this initiative is designed to extend that support to individuals who may be looking for ways to take the next step in their lives and careers.
Russell Vaizey, Clerk of the Dyers’ Company states: “Historically, the Dyers’ Company was at the heart of supporting apprenticeships and training, as well as maintaining quality and standards across the craft and industry of dyeing. We see this initiative as an exciting step towards re-building those links to the modern-day world of business. We hope that we will encourage individuals considering setting up their own business to take what will be a big bold step.”
Applications will be encouraged on an annual basis and The Dyers’ will back several ventures each year.
The Dyers’ Company Seed Capital Investment Project is organised as a two-stage process. Stage one is an online application, and in this the inaugural year, entries will be open until the end of February 2023. These will then be reviewed by the Dyers’ Colour Committee which has substantial experience of colouration commercialisation.
Stage two is the short-listing of potential candidates, the results of which will be announced at the end of March. All successful applicants will be invited to interview in early May and successful businesses for Dyers’ Company Seed Capital Investment will be announced in June 2023.
How to apply
Open to UK residents only, applications for the Seed Capital Investment Project can be made online via the The Worshipful Company of Dyers’ website.