Tech City UK launches free initiative to turn start-ups into scale-ups
Zoopla’s Alex Chesterman and Adzuna’s Doug Monro will work as ‘Scale Coaches’ for government-backed Upscale programme
Tech City UK, the government-backed organisation, has announced the launch of a free scale-up programme which will offer digital start-up businesses access to expertise and advice from top European and US entrepreneurs to scale.
The six-month pilot initiative – named Upscale – will support 25 early stage high-growth digital businesses through a series of workshops, mentoring and strategic advice to prepare them for the potential challenges of scaling.
A number of high profile digital entrepreneurs have offered their expertise to the programme including Alex Chesterman; CEO of Zoopla, Doug Monro, co-founder of Adzuna, and Sarah Wood, co-founder of Unruly, and will work as ‘Scale Coaches’.
To participate in Upscale, businesses must be UK headquartered, growing at 40% month-on-month over the last three months and be funded up to Series A, or have annual revenues of £500,000 if bootstrapped.
Gerard Grech, CEO, Tech City UK, added: “Upscale facilitates the sharing of experience and ideas at the precise moment ambitious entrepreneurs need it most. The digital business ecosystem is known for its desire to fail fast, learn and succeed.
“Upscale aims to bring together a powerful peer network, connecting aspiring founders with proven business leaders who went all the way and now want to give back to the next generation of leaders, strengthening the long term future of the UK digital industry, providing direct benefit to the British economy and ultimately increasing its productivity.”
‘Scale Coach’ Chesterman commented: “Making the transition from start-up to a fast growth later stage business is a critical point in the life span of every digital business.
“Suddenly you are faced with new challenges as your workforce, revenues and customer base expand. Turning these challenges into opportunities is the hallmark of every successful scale-up and I look forward to sharing my personal experiences with the next generation of British entrepreneurial talent.”