How the funding works
Using your application, we’ll assess your business idea and, if we like it, we’ll invite you in for a live pitch. This will take place at The Workbox, Penzance, in front of a panel of business experts.
The panel will ask you questions and evaluate your plans. They will offer advice and, if they feel your business idea has potential, offer a cash investment. This will be payable to the individual applicant (or a company if the end recipient of the funding is a private individual or individuals).
The cash investment is a loan that is paid back with no interest, if/when your plans succeed. IMPORTANT: By repaying us, you will be helping others to apply for similar help in the future. Our aim is for the Launchbox fund to become evergreen – at least partly self-financed by those who succeed with its help.
There are a number of options available for paying back the finance. We will work with each successful applicant to find the best one to suit them. Options include:
- A fixed percentage of income paid each month from a set start date by standing order until repaid – length of period to be mutually agreed
- Staged larger payments or % of income when the investment brings returns
- If you run your own company, an agreed % of the company can be assigned to the Norda Trust in return for Launchbox finance, with the ability for this to be bought back at any time by you in the future at an agreed valuation. If you sell the company, the Trust will get its share.
If the idea does not succeed – the risk was ours, and you don’t owe us what you cannot afford.
The Launchbox is a charitable initiative run by The Norda Trust. We are not funded by the Government, the EU or any publicly funded project.