- Global Growth Programme aims to turbocharge trade and investment surrounding West Midlands through new collaboration with London & Partners.
- Innovative West Midlands tech businesses invited to apply for fully-funded place on prestigious export programme.
- Expansion follows success of Global Growth Programme’s export function in 2022.
High growth West Midlands tech companies are being invited to apply for a 12-month export support initiative, fully-funded by the West Midlands Growth Company (WMGC) and the West Midlands Combined Authority (WMCA). The announcement comes as WMGC prepares to expand its successful Global Growth Programme, which supports West Midlands businesses in getting export-ready, as well as providing a comprehensive support package for international companies looking to grow in the region.
The new programme is the result of a unique partnership with London & Partners – London’s official investment promotion agency. The collaboration sees London & Partners’ “Grow Global” programme expanded beyond the capital for the first time, providing exclusive access for ten ambitious West Midlands scale-ups. The world-leading programme has served as a springboard for the global growth of numerous scale-ups that are now household names, including Monzo, Bloom & Wild, Brompton Bicycles, Mr & Mrs Smith, Onfido, Elvie, InstaDeep, Revolut, Mindful Chef and Ocean Bottle.
The businesses will be selected to receive a range of benefits to help drive their overseas expansion. This will include expert advice and guidance around shaping a 12-month internationalisation plan, tailored to the company’s growth objectives; networking opportunities through access to relevant events and specialist workshops, led by industry experts; invitations to targeted international trade missions, enabling businesses to evaluate global markets first-hand and valuable partnership opportunities with corporates and investors.
Neil Rami, Chief Executive at the West Midlands Growth Company (WMGC), said:
To date, our Global Growth Programme has proven a resounding success, helping a number of the West Midlands’ high-growth tech firms to get their global export plans off the ground, while also helping international companies to kickstart their growth journey in the region. Through this unique partnership with London & Partners, our enhanced Global Growth Programme will enable us to build on these foundations, using our best-in-class expertise to support even more scale-ups with their eyes set on international expansion, or in taking their business to new heights right here in the region.”
Janet Coyle CBE, Managing Director of Grow London at London & Partners, said:
As the West Midlands is a global leader in investment and emerging technologies, partnering with the West Midlands Growth Company and inviting applications from export-focused scale-ups seemed like a logical step. I am eagerly anticipating the announcement of the ten selected companies and working alongside them to shape their international growth strategies.”
West Midlands businesses from across the following sectors are invited to apply:
- Business, Professional and Financial Services
- Creative and Digital Technologies
- Life Sciences
- Low Carbon
For a company to apply, they must be an SME employing 10 or more staff, with a turnover (or total equity raised) of at least £1m, and able to demonstrate 20% year-on-year growth. Companies must also be in a position to begin or scale exports to international markets and their UK headquarters and primary UK trading address must be located within either Greater Birmingham and Solihull, Coventry and Warwickshire or the Black Country area.
The new enhanced initiative follows on from the success of the Global Growth Programme’s export function in 2022, which saw West Midlands companies METCLOUD, Energym, Lumien and Complygate chosen to receive a package of fully funded export support.
With the West Midlands being declared the UK’s fastest growing regional technology sector, a number of business support initiatives have been introduced, running alongside the Global Growth Programme. These include the West Midlands Health Tech Innovation Accelerator – designed to drive new healthcare technologies towards commercialisation – and the Digital Innovation Transformative Change (DIATOMIC) Accelerator, designed to bolster innovation by providing the region’s tech firms with funding for trials.
Ian Vickers, CEO at METCLOUD, said:
The support provided by WMGC in getting us ready for international expansion was invaluable. Objectives of the programme included a market overview, recommendations on route to market and introductions with potential targets within overseas territories. We would highly recommend other high-growth companies based in the West Midlands to apply for this new enhanced version of the Global Growth Programme.”
Will Flint, CEO at Energym, said:
As Energym prepares to expand into global territories, the support provided by the Global Growth Programme has enabled us to build a pipeline of commercial opportunities and relationships across our core target markets. The Programme provides access to a team of highly knowledgeable and experienced individuals who can offer support and guidance to help navigate the complexities of becoming export-ready and reaching new worldwide markets.”