London Stock Exchange Launches ELITE Programme for High Growth Companies
London Stock Exchange today launches ELITE, an innovative business support programme for high growth private UK companies. Matthew Hancock, MP, Skills and Enterprise Minister launched the inaugural event and welcomed the first 19 ELITE company CEOs to the scheme. The event took place at Imperial College, hosted by Xavier Rolet, CEO of London Stock Exchange Group and Professor G. ‘Anand’ Anandalingam, Dean of Imperial College Business School. Source: link About ELITE The 24-month ELITE programme will provide companies’ founders, CEOs and executive teams with a tailored portfolio of business support tools, education services provided by Imperial College Business School and access to a select group advisers and investors. Major trade body supporters include the CBI, ABI, BBAA, BVCA and Tech City (full list below). In addition, companies will have access to the programme’s ELITE Entrepreneurial Fellow, Sean Phelan, founder of Mulitmap and angel investor. As part of their journey through ELITE, management teams will be guided on how to adapt and shape their businesses for further long-term growth and how to increase their visibility and attractiveness to potential investors. About the companies ELITE is for a select group of UK companies that are revenue generating and rapidly growing. The first cohort of companies showcases the UK’s ability to produce great businesses across numerous sectors and across the country. The first cohort includes manufacturing, technology, healthcare, retail and media businesses. Of the 19 companies joining today, 13 are from outside London, including two from Scotland. As the initiative develops, multiple cohorts are expected to join every year. Matthew Hancock MP, Skills and Enterprise Minister said: "Innovative, imaginative and inspiring small businesses are essential for the British economy and it is part of the Government's long term economic plan to ensure that they have the right environment to grow. Programmes such as ELITE that offer access to high quality education, advice and support will help businesses scale up in the right way." The Mayor of London Boris Johnson, said: “Small and medium sized businesses are the lifeblood of London’s economy providing employment for over 50 per cent of working Londoners. It’s vital that ambitious young companies are supported as they grow so I warmly welcome the launch of ELITE, which is set to provide practical help and advice.” Xavier Rolet, CEO, London Stock Exchange Group, said: “Having witnessed the success of the ELITE programme at Borsa Italiana, we believe that the environment in the UK is ripe for a similar programme to support high growth businesses. Innovative businesses are often the most ambitious companies, but to get ahead they need new resources, new relationships and new funding which many businesses find challenging or time consuming to access. “ELITE will provide high growth companies with the essential tools they need to develop and help foster a connected financial ecosystem, promoting the right type of funding for businesses at each stage of their journey. “We firmly believe that these companies will fuel the long-term growth of the UK economy, and that ELITE is a unique platform to help them achieve their full potential.” Professor G ‘Anand’ Anandalingam, Dean of Imperial College Business School, said: “SMEs are fast becoming the key drivers of growth within the UK economy. This partnership with London Stock Exchange will enable us to share Imperial’s academic expertise with the founders and executives on the frontline of business innovation. We look forward to helping equip the first ELITE company CEOs with the tools they need to take their businesses to the next level.” ELITE has already achieved success in Italy where the programme was launched in 2012. To date, over 130 companies have participated in the programme, with several companies having raised private investment and others now looking at potential stock market or mini bond listings and actively engaging in funding talks with Private Equity and Venture Capital firms.