Seed Mentors proposes to provide funding for small businesses and entrepreneurs who possess business ideas that have a good success potential. If you are such company, Seed Mentors have put together a series of checklists and criteria for your reference to ensure you are eligible to participate in our pitching events. For any further queries please contact Shani Randall on 020 3011 0901.
BASIC ELIGIBILITY CHECKLIST
Any business looking for investors through SEIS should satisfy the following criteria to be eligible. Companies are eligible for a maximum of £150,000 from the SEIS scheme.
- Should be a UK based company
- Should not be a holding company, only independent establishments are eligible.
- Should have less than 25 employees.
- Should have unquoted shares.
- Should have gross assets, the value of which does not exceed £200,000.
- Should have been trading for a period of less than 2 years
- Should not possess any subsidiaries.
- Should not have obtained EIS or VCT funding previously.
- Proposed business should not belong to one of the excluded activities listed below.
EXCLUDED BUSINESS ACTIVITIES
The following business activities do not qualify for SEIS investments in accordance with Government directives:
- Banking, Insurance, Money Lending, Share trading, Securities, accounting services and other Financial institutions.
- Legal, Receiving royalties, Licence fees (with exceptions).
- Property Development, Land dealing, leasing and letting of assets (with exceptions).
- Farming, Forestry, Timber, Market gardening and Ship Building.
- Coal, Steel, Commodities (with exceptions).
- Managing Hotels, Care Homes and the like.
Details on the exceptions in few of the excluded activities can be obtained by contacting our offices directly.