Transform will be delivered by a team of 17 high growth coaches experienced in business growth strategies, business models, innovation, access to finance, leadership and management capabilities, IP, HR and sustainability. They will be supported by an experienced ERDF programme team. Transform will support eligible small and medium sized enterprises (SMEs) throughout Cornwall and the Isles of Scilly who demonstrate the potential for growth. Use will be made of accessible locations including Cornwall College’s 7 campuses, centres and business spaces. Field-based coaches and mentors will also travel to SMEs. Online resources will provide remote access.
All eligible SMEs will receive a 12 hour assist at a 2 day ‘Greenhouse’ workshop where they will:
- Complete diagnostic tools (including GROWTHmapper) identifying needs and barriers to growth
- Undertake a 1-1 assessment of their SME with a high growth coach
- Be introduced to Business Model Canvas to promote best practice in building sustainable businesses
- Be introduced to Agile Innovation to learn how innovation aids growth SMEs will receive a bespoke High Growth Plan (HGP) detailing the scope of support to be provided and the investment required by them to match this. The scale of each HGP will be determined by the individual SMEs growth potential. Support will then progress through a 5 stage gate model – each stage gate will focus on themes and activities that will drive a plan for achieving growth. The increasingly intensive and sophisticated resources available at each stage will ensure that SMEs who demonstrate greatest growth potential will access higher levels of appropriate support. SMEs will also benefit from access to Non-Executive Directors, facilitated Peer networking groups, innovative interactive workshops and events.
Additionally, SMEs will be offered the opportunity to take on a graduate for 6 or 9 months as a dedicated resource to support specific HGP activities. During the placement, the graduate will receive expert mentoring from the coaching team and Transform will offer a contribution of up to 25% of the graduate’s salary.
For more information visit the project website.
This project is part-funded by the European Regional Development Fund
Investment & Outcomes
- ERDF – £8,801,667
- Private match – £2,200,419
- Business support
- Private sector match
- Jobs created