Page Loading

How to set up an innovation start-up business

Support provided by Business Gateway

What does this involve?

An important first step in creating an innovation start-up business is protecting your idea. Your intellectual property could be critical to the success of your start-up. Next, you will need to write a business plan that outlines how you will commercialise your innovation. For your idea to translate into a business, you must work out how you will develop and sell it.

Financing an innovation start-up may call for equity investment. This can be a popular option, with equity investors providing capital – and sometimes advice and contacts too – in return for a stake in the business. They will profit only if your start-up succeeds. Your business plan can help you to show potential investors why your idea is worth backing.

Learn more in the Business Gateway guide to how to set up an innovation start-up business.

Read in this free guide about how to:

  • protect your new company’s assets
  • write a business plan for an innovation start-up
  • finance an innovation start-up
  • obtain equity investment for an innovation start-up
  • consider exit routes for your innovation business

Am I eligible?

Yes, if you are thinking about starting, or already run, a business in Scotland.

What does this cost?

This is a free and impartial service.

Who is this for?

Anyone who is keen to develop an innovative idea into a successful business enterprise based in Scotland.

How long does this take?

Take 4 minutes to find out how to set up an innovation start-up business.

Important information

Banks often won’t lend to innovation start-up businesses – particularly those with no premises, equipment or other significant tangible assets. Grants, unsecured loans and equity investment can be better bets for financing an innovation start-up.

Next steps

Visit the Business Gateway website for more information on how to set up an innovation start-up business.

Support provided by Business Gateway