IDEAScotland is open to applications from start-up companies in the publishing sector, with a focus on digital technology.
Traditional print companies can also apply, as they would be covered under the ‘technology’ umbrella of the project, but all applicants must be doing something innovative.
The centre is a collaboration between brightsolid, publisher DC Thomson, the University of Abertay Dundee and the University of Dundee.
Together the companies have made an initial investment of £250,000, and they will make potential additional investment in individual businesses taking part in the centre that meet commercial criteria as the project progresses.
The centre will work closely with the IDEALondon start-up centre in Shoreditch, which was announced by Prime Minister David Cameron in December 2012, and supports the growth of digital and media companies.
IDEAScotland will have three phases: the initial applications phases; an accelerator phase; and a prototyping phase. Start-ups that submit successful applications will take part in the eight-week accelerator phase which will focus on team development and customer discovery.
Companies will be supported in a number of ways during this time at the centre, including being given business advice, input from expert mentors and taking part in tailored workshops.
At the end of this phase each company will pitch to enter 12-week prototyping phase, with successful start-ups receiving up to £25,000 of funding to develop a working prototype and try to acquire customers. They will then take part in road shows to pitch their product to potential investors.
The centre will host up to 10 start-ups in its first year.
Claire MacDonald, innovation manager for IDEAScotland, told PrintWeek the applications process was open to all start-ups in the publishing sector, with a focus on digital. "The focus is on online business," she said. "But we do incorporate technology, so printing companies could be covered by that. As long as companies show they are being innovative, that is the main thing."
The application process opened yesterday, and will close on 10 May. Applications can be made here. A second applications process is likely to be opened in the summer, MacDonald said.
