We at SSTC recently attended the first session of the Innovation for Growth courses at Nottingham Business School, which may interest our readers. The session was led by a successful small business owner who launched her company in 2018 and now works with major clients, including Lego.

The course had two parts. The first focused on identifying where innovation is necessary, emphasizing the importance of targeting areas that need a fresh approach and avoiding the pitfalls of chasing growth for its own sake.

The second part discussed making changes measurable, achievable, and realistic. We participated in a written exercise to identify areas for change and their potential impact. Our focus was on improving our website presentation compared to a peer consulting company. Other businesses discussed various strategies, from aligning sales with book releases to enhancing software integrations.

The session provided practical tips tailored to SSTC's needs. Additionally, meeting other local small business owners was inspiring and highlighted the innovative work happening in the Midlands. We look forward to the rest of the series and seeing the progress of our fellow attendees.

Notable Accelerator programs, like Y Combinator and Techstars, are designed to support early-stage, growth-driven companies through education, mentorship, and financing. Y Combinator, founded in 2005, is a prestigious startup accelerator based in Mountain View, California. It provides seed funding, mentorship, and resources to early-stage companies, with a strong track record of launching successful startups like Airbnb, Dropbox, and Reddit. The program runs twice a year, each lasting three months, and focuses on helping startups achieve product-market fit and scale their businesses. Y Combinator has a comprehensive network of industry connections and offers continued support through initiatives like YC Continuity, which invests in and supports companies as they scale beyond the early stages.

Techstars, founded in 2006, operates globally with a similar goal of helping entrepreneurs succeed. Their three-month programs provide funding, mentorship, and access to a network of corporate partners, investors, and alumni. Techstars invests $120K in each company and offers hands-on mentorship and resources to help startups find product-market fit and gain traction. The program culminates in a Demo Day, where startups pitch to investors. Techstars has launched numerous successful companies and has a strong track record of supporting entrepreneurship worldwide

The Innovation for Growth course at Nottingham Business School shares similar goals but differs in its approach. Unlike traditional accelerators that focus on rapid scaling and investor readiness, this course emphasizes strategic innovation and sustainable growth tailored to each business's unique needs. While accelerators often culminate in a pitch event to investors, the Innovation for Growth course focuses on practical implementation and measurable outcomes, pitching the changes to the business at the business owners themselves, much as they may seek investment in the near future.