ScaleUp Institute, Goldman Sachs 10,000 Small Businesses and Innovate UK hold major Business Growth initiative at Citylabs 1.0

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ScaleUp Institute, Goldman Sachs 10,000 Small Businesses and Innovate UK hold major Business Growth initiative at Citylabs 1.0

The ScaleUp Institute, with the support of Goldman Sachs 10,000 Small Businesses and Innovate UK, hosted a major three-day regional economic growth programme at Citylabs 1.0 in Manchester concluding on Wednesday 21 September. 

The three day course convened 70 stakeholders from over 12 Local Enterprise Partnerships throughout the UK. Over the three days, attendees were trained in an innovative programme delivered by Professor Daniel Isenberg, an expert in business scale ups, at  Babson College, Boston MA.

The programme, the second of its kind delivered in the UK, has proven success in stimulating and driving economic growth through building supportive entrepreneurial ecosystems. It also focused on how LEPs and local support networks can help deliver this and create ecosystems for entrepreneurial growth.  

By focusing on the core challenges that face UK high growth businesses seeking to scale, the programme enabled LEP stakeholders to identify practical measures and techniques to address these challenges and apply these steps to their local business environment. 

With strong coverage from the Northern Powerhouse, representatives of Local Enterprise Partnerships, Growth Hubs, Business Schools and entrepreneurs from across the UK attended the course, held at Citylabs 1.0 in Manchester.

The programme highlighted how support should be given to local high growth firms in order to stimulate scale up growth among businesses with the Minister for Small Business, Margot James addressing the audience on the importance of the collaboration.

Irene Graham, CEO of the ScaleUp Institute, said:

“This is a vital time to work together to support the growth needs of our fastest scaling businesses. We are committed to working with both local and regional authorities and private sector partners to support their focus on the growth of our scaleup businesses and sectors. 

“I have seen the real impact that this programme can make - both around the world and also in places in the UK such as Swindon and Worcester. It helps cities and regions develop collaborative and practical programmes that make a real difference to the needs of scale ups.

“We are delighted to have partnered Goldman Sachs 10,000 Small Businesses, and Innovate UK to bring the programme to Manchester and to  meet with city leaders here hosted by Manchester Science Partnerships. We have had terrific commitments made to be more focused on our high growth businesses  from across the northern and southern regions. It demonstrates the passion the country has for growth and the determination to support our scale up businesses.' 

Charlotte Keenan, Goldman Sachs said:

“We are pleased to have partnered with the ScaleUp institute to bring this course to the UK. The work over the past three days will help provide the economic environment that is so necessary to allow small businesses to grow”

''This initiative complements the Goldman Sachs 10,000 Small Businesses programme which helps entrepreneurs create jobs and grow their businesses.  

Having worked with over 1,000 small businesses in the UK, we know that access to intensive business education and support services unlocks growth, leading to increased revenues and net new jobs”.   

Small Business Minister Margot James said: 
‎The ongoing work of the ScaleUp Institute, Goldman Sachs 10,000 Small Businesses Initiative and Innovate UK will help inspire the next generation to scale up, export and take on the world. When the private and public sectors come together they can help shape national and local growth. Local Enterprise Partnerships, Growth Hubs, universities and councils, as well as government programmes like Help to Grow and Enterprise Capital Funds can all help. I want to encourage all aspiring entrepreneurs and ambitious business owners across the country to take advantage of the support that's out there.

Rowena Burns, chief executive of Manchester Science Partnerships, which hosted the three-day event said: 

“We were delighted to welcome the ScaleUp Institute and the Minister.  It has been an absolute privilege to work with the ScaleUp Institute and their partners and warmly commend their work in forging collaborations to enable business growth.

 “Small and medium sized businesses are the backbone of our regional economy and play a crucial role in driving economic growth. The ScaleUp Institute approach - identifying our fastest growing businesses, and supporting them through bespoke programmes which draw upon the rich resources of our universities and growth support partners - is hugely exciting, and ideal in a city-region renowned for its commitment to collaboration and working in partnership.”