Many startup...but few scaleup
Most cities have robust startup eco-systems; now the focus is pivoting to create complimentary scaleup eco-systems. It’s successful startups that scaleup into large, vibrant companies which drive economies.
In Raleigh, there are many programs designed to incubate new businesses. However, resources for companies that have passed the start-up phase are very limited – particularly for high potential firms between $5 million and $200 million. Ironically, it’s these older, more established privately-held and family owned firms, which have the best chance to scale up, contributing significant growth to the local economy.
Each year we will select up to 15 high potential scale-up companies to participate in a proven 3 year program of education, coaching, and support.
"...middle market high potential firms with revenues between $5 million and $50 million...have the best chance to scale to $100 million and beyond, contributing significant growth to the local economy."
"the essence of this initiative is to identify, educate, support, and honor these companies."
The selected companies will be provided with:
Access to leading high growth experts, investors, coaches, entrepreneurs.
Expertise to help make informed business and funding decisions for each company.
A vibrant ecosystem that supports and promotes innovation, entrepreneurialism and growth.
High visibility and national recognition as an early adopter and participant of the ScalingUpU Initiative.
The three expected outcomes and benefits to the Raleigh region include:
Putting one of the firms on a strong trajectory to $1 billion in revenue.
Helping five to 10 companies scale and then exit for a combined $1B to $3B.
Assisting 70% - 80% of the remaining 140 firms to increase their size 3x to 10x.
PROGRAM AND DATES
ScaleUpU is an accredited 36-month executive program similar to the “Birthing of Giants” (BOG) program that Verne Harnish, founder of the Entrepreneurs’ Organization (EO) and author of Scaling Up, launched over 25 years ago. Today it is titled the “Entrepreneurial Masters Program” (EMP) and is still held on the campus of MIT.
Collaboration and networking between scaleups is fostered through a series of executive education programs for CEOs and their teams.
Quarterly education and strategic planning sessions are customized for each scaleup, facilitated by a certified business advisor.
Accredited online courses for all leaders and employees provides the techniques and tools necessary to grow the talent needed to support scaling up.
COSTS, APPLICATION INFORMATION
If you're a scaleup in need of support; a local leader wanting to improve the local economy; or have something to contribute to both -- please reach out to us.