Growth Readiness
The Programme
Purpose
Provide access to high quality multi-disciplinary business support, mentoring, coaching and technical expertise to support in the development of a detailed two-year growth plan.
Outcomes
Growth plan complete and ready to implement.
Periodic reporting of progress towards complete growth plan and monitoring of its implementation over a 2 year period.
Application Window
March 2021 – December 2022
Job Creation
Yes – minimum of 2 new jobs to be created as part of the 2 year growth plan.
Funding
Projects Cost
Bespoke business support worth up to £20k.
Funding Requests
Fully funded support provided via subsidised advisory services.
Match Funding
Nil
Eligibility
Target Companies
Early stage company seeking to validate its product, target market and organisational development.
Has an ambition to grow by at least 20% per annum, increase staff and revenue significantly over the next 24 months.
Timescales
Complete and signoff growth plan within timescale set by Ascend (but typically expecting to be 3-6 months), followed by 2 year monitoring period.
Location
Derby City location or within a 7.5 mile radius of Derby City and will commit to create jobs for Derby City citizens, graduates and/ or students.
Company Structure
Ltd, Social Enterprise, Partnership.
Application Process
Application
To include detailed company background, management and business case
Initial Selection
Application is reviewed and recommended for support for the Preliminary Support
Preliminary Support
Delivered by generalist Ascend Advisor, similar to type of due diligence, will include high level business plan assessment and growth/ investment potential and ambitions, prepared for Selection Panel
Selection Panel
Preliminary support document and presentation from the company to the Selection Panel – yes/no decision to proceed to full readiness programme
Ascend has three programmes for businesses to apply for:
Ascend Growth
Readiness
Provide access to high quality multi-disciplinary business support, mentoring, coaching and technical expertise to support in the development of a detailed two-year growth plan.
Ascend Investment
Readiness
As per growth readiness, but with a focus on developing an investment case, in the form of an Investment Memorandum, which can then be used to begin meaningful discussions with potential equity investors.
Ascend Scale-Up
Growth Projects
A loan scheme designed to assist in supporting the physical business growth in the form of capital investment in Derby with the ultimate aim to create sustainable new jobs. This fund enables businesses to invest in projects that would not otherwise happen.