We worked with Innovate UK to scale materials, manufacturing, mobility, clean growth and infrastructure systems companies.
The UK is one of the best places in the world to start a business.
But it’s important that the support doesn’t drop off a cliff once a business has taken off and started to grow. In fact, that’s exactly when we need to nurture them the most.
That’s why Plexal was commissioned by Innovate UK, the UK’s innovation agency, to identify and support firms that have the potential to scale in specific sectors.
Our pilot focused on early-stage businesses in the materials, manufacturing, mobility, clean growth and infrastructure systems sectors. As well as creating jobs and economic growth, these companies are defining what we make, the way we move people or goods and how we power our cities.
And it’s these innovative businesses that have the potential to tackle our biggest societal challenges, from ageing populations to climate change.
The first stage was all about identifying the general and sector-specific challenges companies face when they scale. We used our selection methodology to understand the growth potential of each business, as well as the barriers they’re coming up against. We identified challenges across the sectors and stages of a company’s lifecycle. This data informed the practical support we offered during the programme, and helped Innovate UK learn more about how they can support growing businesses in the future. The information we gathered during this stage was anonymised and shared with all applicants.
The second part of the programme was the four-month support period, which launched on 6 November 2018. Each company received bespoke support, including mentorship, workshops one-on-one attention. We also helped the cohort make the right connections, from investors, academic institutions and industry to fellow scaleups or public and private sector organisations crying out for their service or product.
If you've got an innovation challenge, we can design a bespoke programme around your needs and connect you with our community