Growth Accelerator

I have recently come across the Growth Accelerator scheme. They are on Twitter as @GrowthAccel. It looks potentially useful for small to medium sized businesses in England.

It is a public/private business coaching service for high growth companies. It is mainly funded by the government via the Department of Business, Innovation and Skills. To be eligible a company has to be UK registered, have up to 250 employees and a turnover of under £40 million. The coaching can fit with existing programmes and aims to help achieve high growth (~20% year-on-year for 2-3 years – but flexible for each company). There is a cost which is dependent on size: up to 9 people – £600; 10-49 people – £1,500; and 50-249 – £3,000.

One of their offerings is help and advice on commercialising innovation. This can involve the preparation of an intellectual property (IP) Audit. This generally covers the IP owned by a company but can be tailored for particular situations. For example, one company may want it to be directed at a planned new product launch, whereas another may want a more general overview. The selling point for companies is the UK Intellectual Property Office pays. This is worth at least the cost of the scheme for a larger size business, notwithstanding the business support coaching, advice and guidance.

As the cost is not particularly onerous and the scheme is heavily subsidised,  it might be useful for growing smaller companies or for projects in larger companies (e.g. new product launches). Larger companies such as Huddle and The Fabulous Bakin’ Boys are part of the scheme and so it should not be thought of as directed towards the smaller end of the business spectrum.

I recommend that anyone who is interested check out their website where you can apply online.

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