Under the new partnership, Ascension Ventures, which recently opened the first Seed Enterprise Investment Scheme fund in the UK, will have the option to invest in the businesses founded by the school's graduates.
The Seed Enterprise Investment Scheme (SEIS) is a tax wrapper that came into effect on 6 April. It allows individuals to claim income tax relief equal to 50% of the amount invested, regardless of the rate at which they pay income tax.
"SEIS is potentially one of the most extraordinary incentives ever created and could drive the greatest surge of new businesses in Britain's history, says Richard, serial entrepreneur and founder of School for Creative Startups. "Our tie up with Ascension Ventures will be a powerful and important one because it will result in creative start-ups that are skilled and empowered to succeed by giving them vital funding to grow their businesses."
Sanjay Wadhwani, CEO and Founder of Ascension says, "As a result of this exciting tie up we are keeping our funds open to new subscriptions to enable us to accommodate the expected expansion in our pipeline."
School for Creative Startups is a one-year programme founded in 2011 as an offshoot of School for Startups. It provides hands-on teaching for early stage creative businesses designed to teach people how to build successful start-ups and live from their endeavour. Its mission is to create a dynamic culture and economy in the UK and increase the number of creative small businesses.
Ascension Ventures is the investment branch of Ascension Media Group LLP, a creative and digital sector investment and business services group. They focus on investing in the high growth creative and digital sectors in the UK. It offers companies they fund business skills in strategy, operations, marketing and financial management.