High Growth Accelerator Programme

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        "title": "High Growth Accelerator Programme",
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        "description": "The aim of this programme is to provide intensive and in-depth support for 50 high-growth SMEs (as defined by sections 382 and 465 of the Companies Act) in the West Midlands, ending in March 2025. The support will help these firms to manage their growth in a more sustainable way, ensuring that their growth continues higher, longer, and more sustainably than may have been without the support. We define a \"high-growth firm\" as an enterprise with average annualised growth in employees or turnover greater than 20 percent per annum, over a two-year period, and with a turnover of greater than PS1 million per annum in the most recent accounts (or which has raised more than PS500,000 in equity from external investors).",
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                "description": "In delivering the programme, the Provider will be required to carry out the following activities: Brand and collateral The Provider will provide a distinctive brand and marketing collateral (digital collateral can be hosted on www.businessgrowthwestmidlands.org.uk) to promote the High Growth Accelerator Programme to the eligible businesses, explaining the offer succinctly. The Provider should work collaboratively with BGWM on the promotion and marketing of the programme and follow BGWM branding requirements. Business Engagement & Recruitment Eligible businesses will be referred to the Provider by the Business Growth West Midlands service (BGWM), following an initial diagnostic and assessment. This will identify high-growth firms meeting the criteria or showing significant potential. Businesses might also approach the provider directly; in these cases the Provider will need to inform BGWM and ensure the enquiry is recorded and a diagnostic complete. The Provider will be required to engage with stakeholders to support the promotion of the programme, including universities, internal support programmes (such as the Investment Readiness Programme), private sector networks and providers such as Federation of Small Businesses (FSB) and Institute of Directors (IoD), banks, accountants and solicitors etc. The Provider will be required to work collaboratively with other WMCA-funded delivery organisations to maximise alignment and eliminate duplication, this will include attendance at WMCA's Bi-monthly Innovation and Business Support Forum. To ensure timely delivery we expect the initial onboarding of 50 eligible high-growth firms with development plans in place within the first 4 months of the programme. Discovery meeting and baseline position Following a referral and initial diagnostic from the Business Growth West Midlands service, the Provider will be required to arrange an initial meeting with the participant business to develop the completed diagnostic and understand how to best meet the needs of the business and achieve the aims of the programme. The Provider will then prepare an improvement plan, agreeing a baseline of the company's performance, and detailing the proposed activity over the duration of the programme to continue growth sustainably and include costings against each activity proposed. Active account management Rather than simply offering advice and guidance, the Provider will be required to actively work on behalf of the participant businesses to achieve the goals set in the improvement plan over the lifetime of the programme. The Provider will be required to work closely and in collaboration with the Business Growth West Midlands team and Local Authority (LA) account managers to involve third party support where relevant and suitable. Activity will be delivered predominantly as one-to-one support but can include a range of support such as small group workshops, peer-to-peer workshop activity, best practice visits etc. where there are additional benefits mutually agreed by all participants. Results reported by the Provider will need to be confirmed by the participant companies and evidenced. We expect the support offered to be collaborative and informed by the genuine needs of the participants. The Provider will provide the participant businesses access to a network of mentors, coaches, non-executive directors, investors, and other expertise. Assist and inform an independent evaluation An independent evaluation will be commissioned by a third party, to commence midway through the programme. This will provide initial feedback to the Provider and WMCA to help inform delivery. The provider will facilitate access to businesses taking part in the programme to assist with the independent evaluation.",
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            "name": "West Midlands Combined Authority",
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