Nova look to raise £1m to meet demand after a surge in ‘lockdown entrepreneurs’


In what has been a turbulent year for most businesses Nova have received a record 4,300 applications from fledgling startup founders to join their tech startup programme. As a result the Liverpool HQ’d startup co-founders have launched an ambitious £1m crowdfunding campaign to enable them to scale their operations to meet demand.

The economic turbulence and increased levels of unemployment experienced throughout the world this year has led to more people than ever to start their own business. With Companies House reporting a 47% uplift in new company formations and Nova specifically reporting a 120% increase in applications to access their mentorship, development and investment services for early stage technology businesses.

With increased demand for technological solutions and enterprising Britains looking to take advantage of new market opportunities, it is believed that tech entrepreneurs can drive the nation's much-needed economic recovery. Andy Davidson, Nova CEO explained:

"This year has seen our pipeline of high-quality founders wanting to co-found their business with us increase significantly. Our numbers have been up each month since April, with many applications coming from determined founders who have recently experienced furlough or lost their jobs due to COVID-19.

The founders and business opportunities we’re working through all have technology at their heart and are tackling both new market opportunities and industries that are ripe for disruption. We believe it’s presented a great opportunity for us to expedite our growth plans, with the right investment we’ll be able to provide more support, and help more founders to build successful tech businesses.”

The news follows Novas recent international launch in Southeast Asia. Where their programme has been supporting founders from Kuala Lumpur, Singapore and Jakarta remotely from their Liverpool HQ. If Nova are successful with their fundraise, their plans to create more high growth businesses look set to provide a welcome economic stimulus to the area. With the company's growth projections outlining opportunities for future job creation to enhance the regions already flourishing tech sector.

The fundraise is being carried out on Seedrs and has already raised £850,000 out of their £1,000,000 target.