- Sustainability and safety were the focus of two small businesses that scooped the top prizes in the 2026 AXA Startup Angel competition
- The entrepreneurs behind SOAKED umbrellas and Vistella Cycling each won £25,000 plus business insurance for a year thanks to AXA UK and mentoring from small business experts the AXA Startup Angels
Two entrepreneurs behind small businesses selling sustainable umbrellas and hi-vis cycling equipment were the top prize winners in the 2026 AXA Startup Angel competition.
The annual contest, now in its 6th year, offers £25,000 funding and mentorship from successful small business owners – the AXA Startup Angels – to two winners, plus other benefits including business insurance for a year thanks to AXA and discounted health insurance.
Megan Oliver, founder of SOAKED, and David Boadu, who runs Vistella Cycling, were chosen by a panel of judges from hundreds of entries from small business owners and would-be entrepreneurs across the UK.
The judging panel included Julie White, AXA UK Small Business Champion, and the AXA Startup Angels - Raphael Sofoluke, founder of the UK Black Business Show and UK Black Business Week, Izzy Obeng, founder and CEO of Foundervine, and Henry Firth and Ian Theasby from vegan food brand BOSH!
The competition just gets bigger and better. This year’s winners demonstrate the innovation and creativity of the entries we received, plus the societal impact that small businesses can have.
David is tackling a key road safety issue while Megan is using sustainable materials to solve a problem we can all identify with. At AXA UK, we’re proud to be able to play a part in supporting their journey and shining a spotlight on Britain’s startup businesses.
Megan (33) was inspired to launch SOAKED by the frequent rain in her home city of Manchester and the number of umbrellas she saw discarded on the street. She spent two years developing a design that uses sustainable materials, is resilient to wind and retails at a price that’s more accessible than high-end umbrellas.
Reclaimed plastic bottles are used in the production, the fabric is designed by a local artist, and the umbrellas can be recycled at the end of their life, creating a closed loop recycling scheme.
The product development saw Megan take dozens of broken umbrellas home from bins to dismantle them to identify their design flaws and come up with a better alternative.
A billion umbrellas end up in the bin every year, that’s the scale of the problem. They either cost £10 from the corner shop or £100 from a high-end retailer, there’s no middle option. I was becoming more aware of slower fashion and sustainable shopping, and I realised umbrellas weren’t coming with me on that journey, so I decided to do something about it.
She spotted the AXA Startup Angel competition on Instagram on deadline day and dropped everything to make her entry video and complete her submission. Megan says the support of the mentors will be invaluable because running a small business “can be a lonely place when you’re learning and experiencing everything for the first time”. The prize money will support marketing and growing the business into new areas.
For David (33), Vistella Cycling grew from an award-winning university project that lay dormant for several years. While studying business administration at Kingston University in London, he was part of a team that came up with the idea of cycling gloves with reflective arrows that acted as indicators in the dark.
The prototype won the UK Young Enterprise competition in 2016, but the team dispersed after leaving university and it wasn’t until 2023 that David revisited the idea and started a crowdfunding campaign to go into production.
While selling the first 500 pairs of gloves through a small number of independent cycling stores that backed his Kickstarter campaign, David met a bag manufacturer at a cycling exhibition and developed the Lantern backpack using the same reflective technology.
His products are now sold in 70 stores, and he plans to use his prize money for marketing and further product development.
At uni we were tasked with creating a business from scratch. We wanted to come up with something that could have a positive impact on society rather than just create a business for the sake of it.
I remembered hearing about the huge number of cycling casualties in the news, so we came up with the reflective glove. My ultimate goal now is to be known as the cycling safety brand and create a cycling safety community.
David now plans to make a children’s bag and has already made a connection with the government’s school Bikeability scheme.
This year’s AXA Startup Angel competition offered two top prizes of:
- £25,000 funding to launch your idea or take your business to the next level
- Business insurance for a year thanks to AXA
- Dedicated mentoring from the AXA Startup Angels
- Access to a mental health webinar provided by AXA Health
- 50% off business health insurance provided by AXA Health
Four runners up received prizes estimated to be worth £18,000:
- A profile on their business in The Standard, which partners the competition
- Mentoring from The Standard team on digital branding, marketing and social media
You can register your interest in the 2027 AXA Startup Angel competition here: Startup Angel Winners | AXA UK