Can I apply with my own 50k?

I have my own 50k GBP in my personal bank account in the UK (Lloyds Bank), and a business-plan (actually, it's an established profitable business already operating mostly in the US, an Internet company). Can I still apply? I mean, with my own funds?

The gov.uk page says the money needs to be coming from a "registered venture capital firms, UK entrepreneurial seed funding competitions or UK Government Departments " so I'm a bit confused... it's here

jazbit wrote:I have my own 50k GBP in my personal bank account in the UK (Lloyds Bank), and a business-plan (actually, it's an established profitable business already operating mostly in the US, an Internet company). Can I still apply? I mean, with my own funds?

The gov.uk page says the money needs to be coming from a "registered venture capital firms, UK entrepreneurial seed funding competitions or UK Government Departments " so I'm a bit confused... it's here

If you as self-employed or your business didn't engage in business activity within UK before the 11th of July, 2014, you can't use your own funds. Doesn't matter if it was operating in US or any other country in the world.

thanks, and the explanation behind this is... ?

jazbit wrote:thanks, and the explanation behind this is... ?

.... the policy guidance. Read it thoroughly. That's what THEY decided to do to filter out unnecessary candidates and only get people with serious business intention with a strong proposal. Because, these days every Tom, Dick and Harry has 50K of own money, who may not always be the best entrepreneurs the country is looking for.

If you want to use your own funds in this scenario, 200K is the only route now. For now, THEY believe that not every Tom, Dick and Harry has such kind of own money. When the otherwise happens, THEY might tighten this route too.

Thanks a ton.