In order to effectively build the energy system of the future, we need to leverage the brightest minds and most innovative ideas. But how can we amplify those ideas and help them achieve scale? We’ve found the answer to be industry-wide collaboration and convergence.
ScaleUp Hub, a UK-based accelerator programme we developed in partnership with Wayra UK and the Transport Systems Catapult, is a great example of what can be achieved when start-ups are given the boost they need as they’re connecting with investors and networks. Last week the first cohort of ScaleUp Hub concluded their four month journey by presenting their pitches to a room full of investors, corporates and innovation enthusiasts at the London Demo Day!
ScaleUp Hub was conceived to help technology start-ups and scale-ups focused on future energy, urban solutions, customer experience and connected technologies, to accelerate their growth trajectory in the UK by making introductions to new partners, customers and investors. After four months of coaching, mentoring, and broadening the start-ups’ networks, the 12 start-ups shared their propositions and ambitions on stage.
Acceleration in numbers
ScaleUp Hub makes the difference for start-ups looking to transition into the UK market, and its network of experts and investors passionate about supporting innovation have offered real value. Here are just some of the outcomes from ScaleUp Hub:
- After taking part in the ScaleUp Hub, the start-ups collectively anticipate their revenue will grow from £13 million to £73 million this year – a 462% increase!
- They also expect to grow their customer base by 67% (from 6.1 million to 10.2 million) by the end of the year.
- The 12 start-ups secured 18 trials - six with Telefónica, five with Government and seven with other corporates.
- The start-ups have to date collectively raised £31 million and are in the process of raising £52 million
You should be incredibly proud of your achievements and we are very excited to be a part of the next chapter in your growth story.
What the Scale-ups thought of ScaleUp Hub
We spoke with a few of the programme participants about their experiences with ScaleUp Hub, such as their favourite pieces of advice and their recommendations for future start-ups participating in the accelerator. Read on for some of their thoughts:
Q: What was the single best or most memorable piece of advice you received during ScaleUp Hub?
Libryo: A pitch is like driving a car – it’s important to slow down in the right places!
Share&Charge: What you say and do while meeting a customer, investor, or any other stakeholder must be highly tailored, always.
Q: Can you summarise the ScaleUp Hub in three words?
Share&Charge: Opportunity. Door-opener. Investment.
Q: What piece of advice would you give a start-up taking part in the next round of ScaleUp Hub?
Libryo: Hustle hard. Take the opportunities when they present themselves, and when they don’t!
Shine: Forge relationships with ecosystem partners very early on. The ScaleUp programme is designed to connect the world of fearless innovators with the Telefónica business!
Share&Charge: Understand very clearly what you want to get out of the programme, and based on that, decide which sessions are most relevant to you.
Stay tuned for upcoming updates as the ScaleUp Hub welcomes its next round of start-ups – we can’t wait to see what they have in store.