24 July 2020
How Innovating for Growth is helping business throughout the crisis
For the first time in the programme’s history, Innovating for Growth has taken place entirely online. Participants can now have virtual one-to-ones with our external consultants, ‘meet’ each other in online workshops. It’s not only the way the programme is currently being run which has pivoted due to the current crisis, the goals of the businesses taking part have also changed, some struggling to keep going, many changing the way they operate, others trying to keep up with the demand their product or service has seen increase.
We caught up with our delivery partners to find out first-hand how they can support Innovating for Growth businesses and why now might be the best time to apply for the programme…
Red Ochre – Growth strategy
“For the majority of businesses we’ve seen during the pandemic, there had been a stop or slow down in trading. However, there is a lot of positivity. For many there is an improvement in the situation, others are exploring new opportunities and others can see a positive change when various sanctions are lifted. In every case the initial panic has been allayed by the input from the consultants.
“We can help businesses identify what can they do in the short term, how to prepare for more changes in the midterm, provide someone to talk to, someone looking outside in, someone giving a wider perspective to help build resilience and sustainability.”
Meta Value – Financial planning
“We can help businesses be resilient and adapt and help figure out a model to make it all easier and less dependent on them (a common problem). We can also help stabilize the business and identifying the right model so they can then grow or consolidate.
“We can also help with grants, which might not be relevant for all businesses, but the option is available.”
Newable – Innovation
“It’s sometimes daunting or difficult to take the time in a business owners’ busy schedule to spend time to work on the business, rather than the day to day fire-fighting. This programme is a great way to discuss and confide in experienced professionals obstacles or opportunities they might be facing.
“We can also highlight the wealth of other resources available with the BIPC which might be relevant to your business, such as the free market research reports and programme of webinars.”
ABA – Marketing and branding
“We’ve seen a real mixture of those fighting to survive and those who are paddling frantically to keep up with demand or change in circumstances. Regardless of where they find themselves, the reality is (i) they were all having to deal with changing circumstances, not a static landscape; and (ii) they all needed – and I’m sure benefited – from having an expert, outside perspective on the state of their business, the state of the market, and the possible ways forward.”
BRIFFA – Intellectual property
“The businesses we’ve supported since the start of the crisis were looking at how to protect their IP whilst they ride this storm and adapt to new working conditions with the lockdown conditions rather than consideration of future prospects. We also found that some of the candidates had been considering or attempting to try and adapt their business to be digital and needed to understand on how to protect their IP online along with following compliance with GDPR and other commercial aspects like terms and conditions and registering of domains/trade marks. We can help with all of this, so whatever intellectual property query you may have, the programme will be able to support you.”
Whatever concern you and your business may be facing, Innovating for Growth: Scale-ups can support London-based businesses to pivot, diversity, plan their finance and adapt in these challenging times with £10,000 worth of free, tailored advice. Visit our website for more information about the programme or to complete our qualifying questionnaire.