SETsquared Scale-Up Report Released
Scale-ups require a different kind of support to start-ups and more often than not, it is hard to get the specialist knowledge needed at the right time and for the right cost in terms of time and money. To understand the need, SETsquared have issued a report that explores the differences between start-up and scale-up as highlighted by the participating companies, and the areas they felt they need support, and where they felt SETsquared could extend its offering to help their growth.
This research found that too often the support offered to scale-ups was generic or too resource-intensive to make it worth their while engaging. Many of the companies interviewed said that SETsquared’s network of researchers, investors and corporates would be valuable to support their growth and that SETsquared services could be developed for scale-ups, particularly those services which helped companies transition from micro to medium sized businesses and which helped them to continue to innovate, and access customers, investors, talent and overseas markets.
Providing the right support to scale-ups is critical to the growth of the economy
Blog Post: Monica Radcliffe, Centre Director - SETsquared Bristol
HEFCE’s recent announcement of £5m funding for SETsquared Partnership to deliver business support services to scale-up companies is great news for growing technology companies across the South of England.
Growing a company from start-up to SME is fraught with difficulties. Issues with cashflow, recruitment, export and customer acquisition all threaten to derail even the most robust tech ventures.
Yet it is scale-up companies that will create long-term competitive advantage, economic growth, jobs and productivity.
The SETsquared Scale Up Programme will be open to businesses from the Advanced Engineering & Manufacturing, Digital Innovation, Environmental, Sustainable and Marine/Maritime, and Health and Wellbeing sectors from April 2018.