Startups and scale-ups need to develop not only technology or products but also effective business models to succeed. Research at the Cambridge Judge Business School (CJBS) examines the entrepreneurial lifecycle from startups to scale-ups to established small and medium enterprises (SMEs). These insights are used to underpin an established set of tailored teaching and mentorship programmes at the CJBS Entrepreneurship Centre.
The transformation of new ventures from ideas into sustainable growing businesses has been an increasingly prominent driver in the growth of the UK economy. However, there has been a gap in knowledge on how technology can combine with business models to create sustainable businesses.
The Entrepreneurship Centre provides support across the new venture lifecycle: idea generation and entrepreneurial learning through cross-disciplinary programmes; business creation and starting up through Accelerate Cambridge; and scaling up and growth through the Strategic Business Growth and Barclays ScaleUp UK programmes.
The Accelerate Cambridge programme has supported 253 companies, which have raised £230.6 million in grant and venture capital funding, creating hundreds of jobs.
In total, 191 SMEs from across the UK have participated in programmes related to scaling, the Strategic Growth programme and Barclays Scale UK. Those on the BSU programme achieved an average 28% sales growth in the following year, with 89% executing the growth plans developed during the programme to further develop their business.
Although Accelerate Cambridge focuses its impact on the local Cambridge entrepreneurial ecosystem, the Strategic Business Growth programme has reached businesses across different regions of the UK and beyond (e.g. Greece).
“Since joining the [Accelerate] programme in 2014, our company has grown from just a handful of employees to targeting upwards of 75 full time staff by the end of 2020. We have raised over £65 million in funding since that time and continue to grow.”
– CEO & Founder, HealX
