1. Overview
If you're starting a technology business with high-growth potential, you may have the option of receiving support from the High Growth Start-up team at Scottish Enterprise.
The High Growth Start-up team works with pre-start businesses across Scotland. They have very strict eligibility criteria, but if you qualify you will receive intensive hands-on support.
2. About the High Growth Start-up team
The High Growth Start-up team works with pre-start technology businesses that have the potential for accelerated growth. They typically take on 10-14 new businesses a year and can continue to work with them for up to two years, or longer in exceptional cases.
If you're eligible for assistance, the High Growth Start-up team will work with you to help you develop a fully-funded new business. During this process, they will provide support to you to create a business proposition that you can present to investors.
The High Growth Start-up team does not invest in or provide seed funding for start-up businesses.
The High Growth Start-up team offer assistance in a number of key areas, including:
- advising on an appropriate business model
- identifying potential funding sources
- finalising your staff hiring plan
They may also provide matched financial contributions towards key business development costs.
If you feel that you are yet to reach a stage of high growth, you can still access start-up support from Business Gateway. You can call Business Gateway on 0300 013 4753.
3. Eligibility criteria for High Growth Start-up support
To qualify for assistance from the High Growth Start-up team, you should be starting a Scottish business that will achieve a minimum £5 million valuation within 3 years or have revenues of £5 million within 5 years.
When assessing your project, the team will consider:
- competitive advantage
- market size, growth rate and barriers to entry
- channels to market
- sales cycles
- funding and investment needs
- experience, expertise and ambition of founders and management team
- intellectual asset ownership and protection
- technology readiness level and proximity to revenues
- market segment and export potential
- business model and scaleability
- key milestones
- profit margins and overall viability
Applicants will also be invited to attend a panel interview.
If you think you meet the criteria, you can speak to your local Business Gateway office
If you're not eligible for high-growth assistance, you can still access start-up support from Business Gateway. You can call the Business Gateway Helpline on 0300 013 4753.
Read our guide Use innovation to start or grow your business.
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You can connect with us through the contact form, call us or contact your local Business Gateway office.