The programme, Innovating for Growth, is a major three-year initiative funded by the European Regional Development Fund, and will be run from the British Library’s base in St Pancras, London.
The programme offers 3 months of face-to-face customised support from business experts and professionals, combined with practical workshops on expanding a product range, entering new markets and more.
The advice will be tailored to each business’ specific requirements, and so will be relevant and bespoke.
So whether they’re looking to launch a new product, develop a new service, or exploit international markets, Innovating for Growth will help businesses to develop strategy and ultimately turn their ambitions for growth into actions.
SMEs who want to apply for Innovating for Growth will need to have been trading in a London Borough for a minimum of one year and have proven sales. They will also need to have a clear vision for what they want to achieve from the programme.
Successful applications so far include a bespoke cake-making service, a designer of exotic handcrafted jewellery, and a company who create interactive experiences like the digital graffiti wall YrWall.
Innovating for Growth has already helped Jargon PR, a fledging public relations company who have been running for less than four years, to expand its business by four new staff members. Simon Corbett, Managing Director of Jargon, says “We started working with the Business & IP Centre on the Innovating for Growth scheme last autumn, and the experience has been incredibly positive. Having a series of personal meetings with genuine experts in business, finance and strategy from our industry has directly helped us increase fee income and expand the team. Having someone to help you work on, rather than in, the business has helped drive us to the next level.”