Review of High Growth Start Up Unit
We have been commissioned to evaluate the High Growth Start-Up Unit on behalf of Scottish Enterprise. The unit was established in 2002 in response to research which suggested that Scotland does not produce enough ‘high growth’ companies. The unit works with new start technology companies and offers a range of services designed to help them achieve their potential. The evaluation had 2 key objectives:
- to assess whether the market failures the unit was set up to address are still valid
- to estimate the likely economic impact of the businesses supported by the unit.
The study involved in-depth consultation with 25 SMEs supported by the unit as well as consultation with such diverse stakeholders as banks, venture capitalists, business angels and former executives of global companies who were now offering their skills to new start companies. As well as focusing on the operation of the Unit and levels of satisfaction with support received, the consultations also gathered “hard numbers” which allowed an assessment of the overall economic impact of the Unit to be made. Recommendations were also made on how the unit could improve its future effectiveness.
Sheffield