RBS Remedies Fund (money for business accounts)

( related to Monzo CEO, Investor in Monzo ) #45

shame the monies reduce so much from pool A to pool B

(Michael) #46

Also a bit curious. Surely in some ways the pool B business need more of a hand up?

(NM) #47

Isn’t there a catch 22 here, where you could push yourself for an Alpha but risk burnout and end up with a below par product that needs to be redone and therefore waste time.

(Hugh Wells) #48

Yup, but I think that’s where the risk vs reward comes in :slight_smile: I don’t think we’d launch something that wasn’t up to standard so the main “risk” is we’d have put a huge amount of effort in to get something across the line and missed the boat anyway.

(NM) #49

What I mean more rather than “below par” I mean something that would just squeak through the criteria and be a MMVP ( most minimal viable product). As as an expanding business it would be difficult to pass up a top prize of £120million. But theoretically with more time and more user feedback the product should theoretically be better than if you first entered :slight_smile:

(Josh) #50

I was told by someone who works at TSB yhat they are hopeful for an allocation in the second round…

(Antoine A.) #51

Announced yesterday, Monzo missed the grant they applied to.

Any article about why / what’s the impact / what’s the workaround?

(Nathan Steer) #52

Thanks @Nsteer.

Now we’ve got the news, let’s continue the conversation on that thread! :raised_hands:

closed #54