Jim Duffy is one of the most high profile individuals in the Scottish start-up scene. As the man behind the hugely popular Entrepreneurial Spark programme, the author of Create Special (and MBE), it’s fair to say Jim’s had something of an impact on the start-up scene in Scotland.

Having departed ESpark at the end of 2016, Jim has now announced his next venture: Moonshot Academy, in conjunction with co-founders Al Walker and Bill Morrow.

Morrow founded the online investment platform, Angels Den. Walker brings international experience into the mix co-founding Colombian based workspace sharing company, Siembra Coworking. Combined, Duffy, Morrow and Walker have enabled more than £200 million in investment into companies they have worked with.

Moonshot is taking a different approach to ESpark’s egalitarian approach and will instead focus on a far smaller number of selected companies at different stages of growth. The company is also taking a partner-for-life approach, rather than running a fixed length programme. Moonshot will take options in the companies it works with and remain with that company until exit, however long that process may take.

Jim Duffy said: “We are incredibly excited and proud to be launching Moonshot Academy which will nurture and develop the next generation of entrepreneurs. The academy was founded to tackle the billion-dollar issue of companies failing to scale and optimise on return.

“Many business builders have the potential to become millionaires and create something sustainable, but because they don’t know what they don’t know, the chances for many are slim to zero. We are aiming to address that”.

Moonshot is offering three levels of support to companies: Launchpad, Orbit and Moonshot.

• Launchpad will work with start-ups which have a viable business concept, to develop a clear business plan and establish an effective company structure while raising up to £150,000 seed investment.
• Orbit will support entrepreneurs to establish their businesses by optimising business model(s) and advising on financial modelling. Leadership development and team building skills will also be key components of this stage which will help companies secure up to £350,000 investment.
• Moonshot will target founders who are ready to scale their business, aiming to raise over £1 million with plans to exit the Academy.

Moonshot will have a total of 20 spaces per year for companies across all three levels.

In return for the ongoing help, Moonshot is looking for £750 per month for mentoring, 3.5% of any successful investment and a 10% option on company equity, which will be exercised upon the company’s exit.

Discussing the company’s business model, Bill Morrow explained: “Our business model is simple, we only profit once our partner businesses profit. Moonshot Academy will take a small part of equity in a business in return for our guidance, together we grow and when the time is right we exit. It’s a win-win situation.

“Too many early stage businesses across the UK are failing to secure investment, and don’t fully understand how to effectively pre-scale their company. Businesses simply don’t know what they don’t know and that’s where we can help. Moonshot Academy was created to support and help navigate businesses through the entrepreneurial jungle.”

While Moonshot Academy is not focused on any specific sectors or vertical markets, the company is focusing on founders who want to scale their business significantly, raising over £1 million, with clear exit plans.

Al Walker commented: “We are here to help make the entrepreneurs we work with even more amazing, giving them what they need to grow and scale their businesses.

“Jim, Bill and I have all been in their shoes, and know the challenges entrepreneurs face with managing early stage businesses, we are passionate about being part of our partners’ future success and being part of their successful journey to Moonshot.”

You can find Moonshot Academy online, on Facebook and on Twitter.