Category:
Business
RDA:
South East England Development Agency
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Background
In the current economic climate the South East of England’s Development Agency’s (SEEDA) support of high growth potential businesses is more important than ever before. However support must be tightly targeted and catalytic to maximise the impact on economic growth. The Innovation and Growth Teams (IGTs) help any business, from pre-revenue and those at proof of concept stage, right up to companies that have revenues topping £100million. Support is tailored to the circumstances of the business, which benefits from specialist support as well as being connected to other ambitious business through a growing local and regional community of innovation.
Who was involved?
Over 70 public and private stakeholders such as universities, local authorities and economic partnerships are working collaboratively to integrate local and regional resources and ensure that economic priorities are aligned.
What action was taken?
The Innovation and Growth teams (IGTs) are responsive to local needs. They provide one to one assistance to high growth potential businesses, irrespective of their size or sector under the new government business support simplification programme, Solutions for Business. These are starting a high growth business; innovation advice and guidance; coaching for high growth; understanding finance for business; and business collaboration networks.
Impacts and Achievements
The Innovation and Growth teams aim to intensively assist a portfolio of 2,000 businesses over a three year period, and engage with a further 4,000 businesses in collaborative networks through local communities of innovation.
Resources
SEEDA is investing up to £20m over a three year period, with this funding levering support from over 70 stakeholders including universities, Business Link, local authorities, economic partnerships, and business representatives.