IncuBusLDN are transforming a double decker bus into a home for startups
Just when you thought Shoreditch couldn’t get any more hip, it may be about to get its very own double decker mobile incubator.
IncuBusLDN, a start-up incubator programme for 18-25 year-olds based on a traditional London double-decker bus, could soon be roaming the streets of East London.
And if you don’t believe me, the unorthodox idea is already well on its way to becoming reality. It is over 80% of the way to getting the investment it is looking for through a Seedrs crowdfunding campaign.
Second time lucky
IncuBusLDN in the brainchild of Rishi Chowdhury and George Johnston.
They believe the idea allows for flexibility and opens up more opportunities for both the incubator and the startups.
Last year, they tried to get investment for through a reward-based Indiegogo campaign but were unsuccessful.
This time around, Chowdhury thinks they have learned from their mistakes and are far more prepared as a result:
Reward based platforms work really well for products where pledgers can get the product for a discounted price and be first.
Offering equity has proved to be a much better way for us to the raise the £50k we’re raising with this round.
They are now confident to get the remainder of the required funding in the next few weeks.
So why a bus?
The pair believe that on top offering a memorable and fun work atmosphere for young startups, it opens up other opportunities for the incubator.
It opens up new revenue streams to us such as food stalls outside which we revenue share with.
It allows us to take our startups on roadshows to demo their products to investors in different startup hubs across the UK and eventually Europe.
The £50k is going towards finishing bus renovations to ensure a high quality work environment with enough space, super fast mobile broadband, climate control, board room and presentation space.
Featured image courtesy of Wikimedia