A UK-based start-up accelerator has migrated from Birmingham to Tech City so that it can attract start-ups from around the world and secure equity in their businesses.
The Oxygen Accelerator has specifically moved from the UK's second largest city into London's Google Campus near the Old Street Roundabout, sometimes referred to as Silicon Roundabout.
The accelerator will occupy a floor within the co-working space that was previously occupied by Springboard/Techstars for its next 13-week programme, starting October 1.
"We're proud to be moving to Campus London, which is already home to a buzzing community of start-ups and entrepreneurs with more than 10,000 members. However, Oxygen Accelerator isn't just about helping London-based start-ups – we're looking for applicants from all over the world so we can help to grow global businesses," said CEO of Oxygen Accelerator, Simon Jenner.
"London's cosmopolitan nature makes it an ideal place for startups with international ambitions to get on the launchpad. Successful applicants to Oxygen Accelerator will get access to the best advice and training that London has to offer to help them develop their ideas and present them to potential investors," he continued.
The accelerator, founded in 2011, is accepting start-up applications for the next programme up until August 23.
Oxygen aims to help the ten successful applicants develop their product and hone their proposition, with support from more than 150 mentors – across finance, marketing, design, tech and entrepreneurship –including, Eze Vidra, head of Campus London, Google and Sean Seton Rogers of PROFounders Capital.
The accelerator programme is offering €7,000 per founder (up to three founders) meaning there is a total of €21,000 available per start-up in return for eight per cent equity. The start-ups will also get office space in Campus London and access to lawyers, accountants and pitch trainers to help prepare them for an investment pitch presentation day.
Oxygen will be competing with several other accelerators in London, including Techstars, Wayra and SeedCamp.
Last month, Oxygen Accelerator was approved by UKTI as a recognised Seed Investment competition, putting it on the same level as TechStars, SeedCamp and Wayra, which also have the accreditation. This status is said to make it easier for entrepreneurs from outside of the EU looking to apply to the programmes to gain a visa.