INSIGHTS / News

SETsquared, the global number one university business incubator, has exclusively revealed the challenges faced by UK scale-up companies and identified key areas for support, as well as recommendations for scale-up success in a new, insightful report.

Through interviews with many of SETsquared’s Top 50 companies, which are scale-ups and have gone through an accelerated growth trajectory, this report throws light on the difficulties faced during this intense period of change. Many of the companies SETsquared has supported have seen growth of 40% – 100% year on year over three years making them super scale-ups. This is not unusual for a business based on intellectual property – the growth challenges faced are acute, but the economic impact can be so much greater.

The report reveals that many of the tools and services available to them as startups through SETsquared continue to be valued by scale-ups. These include access to investors, corporates and mentors as well as access to the research base of the universities to ensure continuous product innovation.

Karen Brooks, programme director at SETsquared, who co-authored the report, said: “Providing additional support, especially to these super scale-ups, is key to the growth of the economy. SETsquared has provided some services to its ‘graduates’ as they grow beyond our incubators, but we now recognise there is a real opportunity to extend both our network and programmes to better meet the needs of these SMEs as they take on the next stage of growth.”

SETsquared operates across the South of England, a region which has been highlighted in recent Science and Innovation Audits for the economic impact and potential of growth companies for the high-innovation sectors of advanced engineering and manufacturing, marine, maritime and sustainable technologies, health and wellbeing and digital innovation.

SETsquared’s scale-up report features direct feedback from companies on their challenges they faced in growing and reaching new markets. Chris Jackson, CEO of Kelda Technology, said: “Moving forward there’s a challenge scaling globally – with logistics, distributors and the challenge of international contracts.”

Entrepreneur and founder of Living MAP, Jake Ronay, explained the challenged of getting ready for investment. He said: “Nothing really prepares you for dealing with a Venture Capitalist. They will want things you’ve never heard of. It’s invaluable to have someone that explains the roadmap.”

SETsquared’s report has been created to provide insight into the requirements of challenges faced by businesses at scale-up level. To see more about the report please visit: localhost/setsquared-live/scale-report