MIT REAP Team London’s focus is on the metropolitan area with the intention of impacting the broader United Kingdom. RBS was the initial sponsor with Growth Builder emerging as both the primary strategic intervention and backbone organization.. The team consists of representatives from all five stakeholders, including UK Foreign Office, UCL Innovation and Enterprise, University of Oxford and Loughborough University.

Team Members

University
Government
Corporate
Risk Capital
Entrepreneur

Innovation Ecosystem Stakeholder Model

Paola Cuneo
Champion
Programme Director - Entrepreneur of the Year Award, EY
Marian Sudbury
Champion
Director, General, UKTI
Timothy Barnes
Enterprise Lead, Loughborough University
Susie Kitchens
Head of Economic Growth and Business Department, UK Foreign Office
Laura Parker
Strategy Manager, RBS
Oliver Pinch
Training Manager, UCL Innovation and Enterprise
Samantha Vanderslot
PhD Candidate and Researcher at the University of Oxford

Team Strategy

  • Challenge & Opportunity
  • Strategy & Action
  • Ongoing Progress
  • Many early stage companies were struggling to scale due to a lack of support in the entrepreneurial community around mentorship and entrepreneurial training
  • Startups have a hard time procuring skilled staff resulting in a barrier to growth
  • Strategic Intervention(s):
    • Growth Builder – London Scale-up Program Overview:
      • Focus: Support early stage companies that need to scale
      • Launched a program, “Growth Builder,” http://growth-builder.com/, on February 3rd, 2016 which is a public private partnership aimed at helping earlier stage businesses scale to size
      • Growth Builder is a 12-month program that accepts a cohort of up to 50 businesses, which receive tailored introductions to supportive stakeholders as well as advice and mentoring on the different aspects and stages of scaling an early stage startup
        • Application requirements:
          • 20%+ growth per year for the past 2 years
          • 20 or more full time employees
          • Turnover of £5m
        • Metrics of Success:
          • Focusing on success metrics from the program and its impact on graduate firms

reap-team-london-executive-summary

  • Growth Builder:
    • Yearlong program offers ambitious entrepreneurs unprecedented access to likeminded cohort of high-growth potential peers and customized scale-up teaching, and additional support across all five stakeholders, from academia to corporations and government.
    • The organization hosts regular tutorials, workshops, high-profile speakers, and curated networking events with an ever-growing network.
    • After launching in February, the program received more than 100 applications and offered an opportunity to 48 businesses to join the first cohort. http://www.growth-builder.com/

 

Core Regional Metrics

Economic & Social Progress

Social progress and economic prosperity as a collective measure of development in a region.

Innovation-Driven Entrepreneurial Ecosystem

Innovation-Driven Entrepreneurial Ecosystems are regional environments that effectively support startups focused on addressing global markets based on technological, process or business model innovation.

Innovation Capacity

Ability to develop new to the world innovations from inception through to the market.

EXPAND ALL

Demand

-Nature of established companies in region

Funding

-Funding for research
-Government programs

Policy

-Competition policy
-Intellectual property policy

GCI

Performance

People

-Pool of innovators
-Education in tech and commercialization

Culture & Community

Coming soon!

Infrastructure

Coming soon!

Entrepreneurial Capacity

Ability to start and build new to the world businesses from inception to maturity.

EXPAND ALL

Demand

-Government, corporate and consumer demand for new products and services

Policy

-New business creation policy
-Business law and business policy

People

-Pool of entrepreneurs
-Quality of entrepreneurial education

GEM

Funding

-Accessibility of entrepreneurial capital (government, private, equity, debt, grants)

Performance

Coming soon!

Culture & Community

Coming soon!

Infrastructure

Coming soon!

Team News

June 19, 2014

Is London Becoming the World’s Greatest City for Innovation?

READ MORE
February 9, 2015

On US trade mission, London mayor touts success of his city’s life sciences sector

READ MORE
February 25, 2016

Team London Reaps Success with the Launch of Growth Builder

READ MORE
April 26, 2016

How MIT is supporting innovation in Britain

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March 9, 2017

Growth Builder Presents Its First Cohort of Graduates and Announces Expansion Plans

READ MORE