We're based in London, there's a well documented funding gap in Europe. No Y-Combinator, etc. The money exists we just want to create a mechanism to get the best ideas to the money.

This idea fills a gap in the US too, it's a different approach to helping people get start up funding.

I'm not sure about the location thing. I can see how it would be really helpful to be able to sit down together, is it essential in the experience of you guys?