PwC launches programme to support scale-ups
The programme, PwC SCALE, hopes to provide the missing link between fast-growth start-ups and large organisations by connecting them with potential customers, industry decision makers, investors and leading experts who can procure, partner, go-to-market, advise or invest in their business.
Six new programmes will launch as part of PwC SCALE this autumn to harness and foster innovation across the country. Each programme will be delivered with an established accelerator, or similar delivery partner.
There are around 5.3 million micro-businesses with less than 10 employees in the UK, accounting for 96% of all businesses. These businesses will be increasingly important for the UK’s economic growth post-Brexit.
PwC SCALE aims to provide support at a critical stage of a business’ growth, fostering commercial opportunities between companies post start-up and large organisations looking to innovate.
Its programmes are split regionally and by sector, with this round taking place in Edinburgh, the Midlands (both sector agnostic) and London, focusing on fintech, commerce, health and govtech.
Nigel Howlett, UK digital private business leader at PwC, said: “We recognise that the primary needs of scale-ups are to access new customers and gain further investment.
“In our SCALE programmes we help businesses become fit for scaling, then open the doors to our network, facilitating introductions and funding opportunities.”
Previous participants in PwC’s scale-up programmes raised £60m in equity on joining and have since gone on to raise a further £20m, demonstrating rapid progression and quality.
As well as investment, the cohorts were introduced to over 500 relevant stakeholders which has so far enabled over 70 pilots.
Howlett added: “Small businesses are an essential part of the UK economy and it’s important we do everything we can to help them prosper post-Brexit.
“The success of our previous scale programmes inspired us to up the ante, with six more in the pipeline in autumn and more to come in 2018.
“We’re bringing fast-growing and ambitious scale-ups from all over together with the world’s biggest brands, in an environment that allows both sides to learn from each other and build commercial opportunities.
“Interest is extending beyond the UK and we’re seeing increased collaboration from overseas, both from our global PwC network, scale-up applicants and programme partners.”
Published: 23 August 2017