Group Size
?
1.) Small group (teams of 4-6)
2.) Individual Task
3.) Large Group
4.) Any
Small group (teams of 4-6), Individual Task
Learning Environment
?
1.) Lecture Theatre
2.) Presentation Space
3.) Carousel Tables (small working group)
4.) Any
5.) Outside
6.) Special
Special
QAA Enterprise Theme(s)
?
1.) Creativity and Innovation
2.) Opportunity recognition, creation and evaluation
3.) Decision making supported by critical analysis and judgement
4.) Implementation of ideas through leadership and management
5.) Reflection and Action
6.) Interpersonal Skills
7.) Communication and Strategy
1Creativity and Innovation
2Opportunity recognition‚ creation and evaluation
3Decision making supported by critical analysis and judgement
4Implementation of ideas through leadership and management
5Reflection and Action
7Communication and Strategy
0Digital and Data Skills
We designed the Elevate programme with these objectives in mind:
Elevate is an acceleration programme for small businesses founded by Westminster graduates.
It is a comprehensive programme tailored to our student demographics and informed by the type of businesses our graduates set up (HEBCI and Alumni Insights data). This led to the decision to make the programme sector agnostic, welcoming traditional business models and with a strong integration with other opportunities available within and outside the university.
The 6-month programme includes:
- A series of themed workshops delivered by a range of industry experts who are practitioners in their own field
- Regular accountability check-ins and progress reports with a programme advisor to capture milestones achieved
- Individual meetings with a mentor from our Alumni network
- Participants can receive up to £10,000 of equity-free grant funding disbursed in tranches throughout the programme using an Objectives and Key Results action plan and financial plan based on meeting progress requirements.
- A showcase networking event at the end of the 6-month programme where participants share their accomplishments and next steps
The programme takes these early stage companies and aims to improve their revenue and automate their processes by the time the programme ends. Each cohort is made up of between 7-10 companies as an optimal number to allow cohort cohesion and the programme takes on one cohort each year.
Activity:
The Elevate programme launched in April 2023 and was iterated to finetune the logistics and improve the experience for participants.
The 6-month programme is structured in three sprints:
Sprint 1: Product Market Fit
Objective: Participants to review and improve PMF
Workshops: value proposition, customer segmentation, product review and development, competitive analysis, managing cashflow, revenue and pricing.
Monthly mentor meeting
Regular progress check-ins with programme team
Sprint 2: Go-to-market
Objective: Participants to boost immediate sales
Workshops: e-commerce growth, paid search marketing and paid social media, email marketing and SEO, marketing/sales reporting and analytics, social media strategy and social selling, B2B selling and lead generation
Monthly mentor meeting
Regular progress check-ins with programme team
Sprint 3: Development and Expansion
Objective: Participants to consolidate finances and exploring expanding team
Workshops: HR first hires/contractors, finance options, regional business support, reflections on the programme.
Monthly mentor meeting
Regular progress check-ins with programme team
Strict focus on implementing change
The programme requires participants to implement change in their business immediately. Each workshop ends with a small action list to take away, participants capture their implemented actions and the results. Time is built in each sprint for participants to fully focus on implementing change. Workshops are delivered in person and are highly interactive with work being done directly during the sessions. We use a live OKR spreadsheet that participants update throughout and which our team monitors.
Importance of peer-to-peer support
It’s important for participants to fully engage with this programme to get the full benefits. This includes the cohort engaging with each other during the programme, sharing their knowledge with each other and offering help when needed.
Celebrating achievements and next steps
The Elevate programme ends with a showcase event where participants share their accomplishments and their next steps, to a guest list of mentors, advisors, investors and supporters.
Since its launch Elevate has supported 24 graduates with access to funding, mentoring and training that are typically out of reach for early-stage businesses. The programme supported various types of businesses: fashion, consultancy, Apps, professional services, etc.
Key achievements:
85% reported clear growth in lead generation
62% hired a contractor or employee by the end of the programme
100% of revenue-generating businesses saw positive revenue growth
69% successfully developed, tested and validated their go-to-market strategy.
Examples of participants’ feedback:
“Since joining the programme, I have become more confident in my vision for the business and developed a realistic strategy to achieve it.”
“The funding has been crucial. It enabled us to hire our first employee and launch our solo pop-up. Additionally, it allowed us to create more stock and expand our online presence.”
“I feel much more confident in my mindset as an entrepreneur. To the point I’d say it has completely changed my view on what I want the “10-year plan” to look like”.
Facilitators from industry using a practitioner’s approach
Mentors who are established entrepreneurs
Boardroom for in-person workshops
Online meeting software
Online storage drive
Elevate webpage
http://westminster.ac.uk/elevate
Elevate programme video
