PwC launches scale-up programmes to support start-ups
The SCALE programmes are aimed at fostering innovation and linking fast-growth start-ups with large organisations, with a focus on fintench, commerce, health and govtech sectors
PwC have launched a new series of SCALE programmes aimed at fostering innovation and linking fast-growth start-ups with large organisations.
PwC SCALE will launch six new programmes in the autumn, split by region and sector: regionally focussing on the Midlands and Edinburgh, and in the sectors of fintech, commence and health, all based in London, and finally a govtech programme. Each programme will be delivered with an established accelerator, PwC said.
Past programmes indicate high success rates, with previous participants raising £60m in equity upon joining, and up to a further £20 million. A core element of the programme is creating useful connections with potential customers, industry decision makers, investors and leading experts, and past participants were introduced to over 500 relevant stakeholders and over 70 pilots were enabled.
Nigel Howlett, UK digital private business leader at PwC, said: “We recognise that the primary needs of scale-ups are to access new customers and gain further investment. In our SCALE programmes we help businesses become fit for scaling, then open the doors to our network, facilitating introductions and funding opportunities.”
These connections are mutually beneficial, supporting start-ups at a critical stage of development, and allowing large organisations to invest in innovation.
“We’re bringing fast-growing and ambitious scale-ups from all over together with the world’s biggest brands, in an environment that allows both sides to learn from each other and build commercial opportunities. Interest is extending beyond the UK and we’re seeing increased collaboration from overseas, both from our global PwC network, scale-up applicants and programme partners”, Howlett said.
Start-ups and micro-businesses are becoming of increasing importance to the UK economy. There are around 5.3 million micro-businesses with less than 10 employees in the UK, which makes up 96% of all businesses. These businesses will play a critical role in the UK’s economy post-Brexit, and PwC aims to provide support for them to grow and thrive.
Applications can be made here.
PwC have recently been fined a record £5.1m over RSM Tenon audit and were caught up in its auditing client Toshiba’s recent turmoil.