Sherry Coutu – Startup to Scale-Up: Getting the Support Your Business Needs (Turing Fest 2017)

Transcript

1. Turing Festival Sherry Coutu CBE #scaleup #founders4school @scoutu 2 August 2017
2. Getting the support your business needs: Mentoring, Advisors and Boards 2 August 2017
3. ENTREPRENEURSHIP 2000 Floated second Start-up 1986 Came to the UK to attend the London School of Economics 1987 Became a Computer Programmer 1991 Studied Business at Harvard 1994 Joined my first ‘start-up’ 1995 Founded second Start-up Sherry Coutu CBE < 2000 1997 first ‘startup’ sold #scaleup
4. THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE #scaleup
5. Key factors for a successful ScaleUp ecosystem 5
7. Very Few Start-ups Survive and Grow UK businesses that started in 1998 – 10 years later and beyond 221,731 83,165 8,649 5,934 All businesses that started with at least 1 employee Businesses that survived in 2008 Survivors with 10+ employees in 2008 Survivors that achieved at least 1 year of high growth 100% 37.5% 3.9% 2.7% The Scale-Up Institute #scaleup Sherry Coutu CBE
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10. | 6 main gaps to focus on… 1. The Evidence Gap: public and private sector organisations identify, target and evaluate their support to scale-up companies. 2. The Skills Gap: improve the ecosystem so scale-ups can find employees with the skills they need 3. The Leadership Capacity gap: building their leadership capability 4. The Sales Gap: accessing customers in other markets / home market 5. The Finance Gap: accessing the right combination of finance 6. The Infrastructure Gap: navigating infrastructure
11. | Choose a big enough problem
12. | Embed yourself in the right Network
13. | Recruit People who have done it before
14. | Think about tomorrow, not today
15. | Embrace Diversity
16. | Mentors /Advisors who have built systems that scaled
17. | product / market fit
18. | Go….. To Grow (global)
19. | Board who can help with the right kind of money at the right time
20. | Go (back) to school…. Advisors & Mentors with curiosity
21. THANK YOU http://www.founders4schools.org.uk/turing Get in touch: @scoutu