According to the Scale Up report published in November 2014 there are six key factors that must be at play to fuel a successful Scale-up ecosystem.
1. An environment were there is a strong cohort of entrepreneurs who have the capacity and the desire to scale their organisations.
2. Government at a national and local level who have the political will and resource to focus on the mid market community.
3. Support from the education sector including local Universities and Colleges who can provide the academic support , scale up education and research. Increasingly on line support from platforms such as the Growth Institute https://www.growthinstitute.com/ can provide a whole syllabus designed specifically for Scale Up companies.
4. Large corporates who can provide there own expertise, facilities and also a potential market place for mid market companies. Derby in the UK is the global HQ for Rolls Royce and also has the UK home for Toyota and Bombardier. Each has a significant number of Tier 2 suppliers who through their support and guidance can be encouraged to grow and develop their leadership and management capability.
5. Media to help amplify the success stories and to act as champions for the Mid Market community. Whether it be Fortune, Forbes or Huffington Post at a global level or the local TV and Radio stations or press all can have a significant part to play. Much still needs to be done to move the focus from start ups to scale ups, but with Scale Up champions such as Sherry Coutu in the UK the debate is moving in the right direction.
6. Finally the valuable contribution that Mentors, Coaches, investors and professional advisors can have in providing the vital encouragement, sounding boards, education and guidance to the scale up entrepreneur and their teams.
It is not easy to scale up a company and having the right ecosystem is so important to maximise the success rate.