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Scale up deck for eie 18 nov 2015

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Information about Scale up deck for eie 18 nov 2015

Published on November 20, 2015

Author: sherrycoutu1

Source: slideshare.net

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1. EIE London 15 Sherry Coutu CBE #scaleup http://www.scaleupreport.com

2. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE ENTREPRENEURSHIP 2000 Floated second Start-up 1986 Came to the UK to attend the London School of Economics 1987 Became a Computer Programmer 1991 Studied Business at Harvard 1994 Joined my first ‘start-up’ 1995 Founded second Start-up Sherry Coutu CBE < 2000 1997 first ‘startup’ sold #scaleup

3. THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

4. Thank-you’s

5. “We want nothing less than to make the UK the technology centre of Europe. This is the path we need to take to create new jobs, new growth and new prosperity in every corner of our country.” George Osborne, Chancellor of the Exchequer THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

6. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE JOHN CRIDLAND, DIRECTOR-GENERAL CBI “This report makes a compelling case for getting behind the UK’s high growth ‘scale- ups’ and I hope all political parties seriously consider its recommendations. These firms are already having a transformational impact, we just need more of them to grow. Helping them access the talent they need, develop their leadership and access new markets are the priorities.”

7. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE LESZEK BORYSIEWICZ, VICE CHANCELLOR OF CAMBRIDGE UNIVERSITY “This report clearly demonstrates the significant benefits that can be achieved through Government, business and universities working together to help close the scale-up gap. World leading universities such as Cambridge play a crucial role in creating business through the generation of innovation, entrepreneurship, and funding opportunities, but it is the talent and expertise of our students and academics that will help these businesses grow.”

8. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Professor Michael Porter Harvard Business School "Sherry Coutu’s ‘Scale-Up Report’ zooms in on one of the most pressing growth challenges faced not only by the UK but many other advanced economies: how do you move beyond creating start-ups, and prepare the ground for companies to grow and create meaningful economic impact? This focus on the quality and not just the quantity of entrepreneurship helps the reader to gain new insights into what policy steps should be taken.

9. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE

10. THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Definition An independent report to the government NOVEMBER 2014

11. A ‘scale-up’ is an enterprise with average annual growth in employees or turnover greater than 20 per cent per annum over a three year period, and with more than 10 employees at the beginning of the period THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

12. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup We are doing very well on Start-ups…

13. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup But we are doing less well on growing them….. https://www.gov.uk/government/statistics/business-population-estimates-2015

14. Very Few Start-ups Survive and Grow UK businesses that started in 1998 – ten years later 221,731 83,165 8,649 5,934 All businesses that started with atleast one employee Businesses that survived in 2008 Survivors with ten or more employees in 2008 Survivors that achieved atleast one year of high growth THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup 100% 37.5% 3.9% 2.7%

15. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE 1% 36 % JOB CREATION IS LINKED TO COMPANIES THAT ARE HIGH GROWTH (2014) #scaleup

16. 1M Number of new science, engineering and tech professionals required in the UK by 2020 (Royal Society 2014) 5.8M The number of people forecast to be needed in the app economy by 2018 (OECD) About the Skills Gap THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

17. Net New Jobs created in Europe in the past 5 years were from companies less than 5 years old… . About the Skills Gap 100% OECD (2014) Young SMEs, growth and job creation THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

18. THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE 990,000 Open jobs today in Britain (source Adzuna) THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup About the Skills Gap

19. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE STARTUPS DO NOT CONTRIBUTE TO NATIONAL OUTPUT Research by the academic David Storey found that the Just one per cent have sales of more than £1 million six years after they star 1 % #scaleup

20. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE STARTUPS DO NOT CONTRIBUTE TO NATIONAL OUTPUT Research by the academic David Storey has found that the median annual sales of a six-year-old firm in the UK are less than £23,000 £ 23,000 #scaleup

21. Methodology 8,923 THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

22. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE http://www.svc2uk.com/the-royal-society-science-50-index/ “The Science 50” Royal Society’s list Illustrates the extent to which science-based scale-ups are a nationwide phenomenon. 36 (72 per cent) of the top 50 fastest growing science-based companies are located outside of London. These 50 science-based companies increased their revenues by an average of 92 % between 2012 and 2013, achieving a combined annual turnover of more than £1.3 billion. Adding more than £600 million to national output last year. THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE SCALE-UPS ARE MORE THAN DIGITAL SCIENCE ONES GREW 92% LAST YEAR….. #scaleup http://www.scaleupreport.com

23. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE AND ARE BEING TRACKED LOCALLY… http://www.scaleupreport.com

24. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE STARTUPS DO NOT CONTRIBUTE TO PRODUCTIVITY BIS data show that in the UK average turnover per employee is: • £170,000 for firms with 250 plus employees • £164,000 for firms with 50 to 249 employees • £134,000 for firms with between 10 and 49 employees39

25. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE SCALE-UPS HAVE HIGH QUALITY JOBS Of the employees surveyed in these high-growth companies who had joined the company from another employer, 80 per cent stated that they were ‘satisfied’ or ‘very satisfied’ with their current job compared to 46 per cent when asked about their previous job #scaleup http://www.scaleupreport.com

26. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Scale-ups are not start-ups And we should focus our attention and policies on scale-ups THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE CONCLUSION #scaleup

27. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE What percentage of our resources and attention are focused on scale-ups? THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE QUESTION #scaleup

28. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE GIVEN THAT ECONOMIC GROWTH COMES FROM SCALE-UPS AND NOT STARTUPS, HOW DO YOU FEEL ABOUT YOUR ANSWER TO THE PREVIOUS QUESTION? THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE ANSWER #scaleup

29. What can be done to provide more support for companies who have survived the startup phase and are looking to grow? What are some of the key challenges companies face as they look to accelerate growth?

30. The Report identified 6 main gaps to focus on… THE SCALE-UP INITIATIVE Sherry Coutu CBE#scaleup 1. The Evidence Gap: public and private sector organisations identify, target and evaluate their support to scale-up companies. 2. The Skills Gap: improve the ecosystem so scale-ups can find employees with the skills they need 3. The Leadership Capacity gap: building their leadership capability 4. The Export Gap: accessing customers in other markets / home market 5. The Finance Gap: accessing the right combination of finance 6. The Infrastructure Gap: navigating infrastructure

31. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE AND ARE BEING TRACKED LOCALLY… By valuation? http://www.scaleupreport.com

32. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Choose a big enough problem

33. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Embed yourself in the right Network

34. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Recruit People who have done it before

35. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Hire for tomorrow, not for today

36. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Embrace Diversity

37. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Nurture Company Values

38. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Build systems that scale

39. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Test product / market fit

40. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Take the right kind of money …….. at the right time

41. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Take the right kind of money …….. at the right time

42. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Let us start today: We can Reverse The Scale-up Gap 2014 2020 2034 #scaleup

43. THE SCALE-UP REPORT ON UK ECONOMIC GROWTH We can do this! An independent report to the government | www.scaleupreport.org | @scaleupUK | #scaleup NOVEMBER 2014

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