Levelling up with the life science business accelerator programme
After the initial establishment phase, startups face possibly their most difficult challenge: scale and growth. Pioneered in Silicon Valley by Y Combinator back in 2005 accelerator programmes offer an effective solution providing entrepreneurs access to much-needed tools and expertise to aid their development.
The UK has a thriving accelerator ecosystem and whilst 65% of these programmes are based in and around London, there has been a rapid growth in programmes across the North. One such accelerator is located at Manchester’s Alderley Park – a sector-specific programme designed to support new and early stage life science businesses in the North.
Startup, scale up
Along with a startup model, which helps individuals to explore and consolidate their business plan, the Alderley Park accelerator enables promising established companies to efficiently scale their business. This takes the form of skills training, leadership support, access to markets and finance, and much-needed boosts to their company profile.
Participants also benefit from access to a network of industry experts – advice and support from over 200 senior business leaders, many of whom have worked at the highest level of global pharmaceutical and medtech organisations, and have the skills and industry insight to help businesses progress.
Even with the greatest will in the world, no organisation is able to grow without the necessary funds. If they are in need of funding, businesses on the Alderley Park programme can make use of specific funds for life science SMEs who are based in the Manchester region. Alderley Park Ventures is a £5m incubation fund for businesses at the Alderley Park site, and the Greater Manchester and Cheshire Life Science Fund offers £42m of venture capital to companies operating in pharmaceuticals, biotechnology, diagnostics, life science contract research, healthcare technologies and medical devices.