Imperial and London Stock Exchange launch executive education programme

Some of the UK's most promising entrepreneurs will have access to an innovative new business education programme launched at Imperial today.

The ELITE programme, a partnership between Imperial College Business School and the London Stock Exchange, provides support for high growth Small and Medium Enterprises (SMEs).

Skills and Enterprise Minister Matt Hancock launched the inaugural ELITE event and welcomed the first 20 ELITE company CEOs to the scheme.  

The launch was hosted by Professor G. ‘Anand’ Anandalingam, Dean of Imperial College Business School and Xavier Rolet, CEO of the London Stock Exchange.

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 the LSE 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.” 

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.

"Imperial is at the cutting-edge of links between businesses, entrepreneurs and business education."

Economic lifeblood

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.”

The ELITE programme is a two year programme designed by Imperial College Business School.  It will provide companies founders, CEOs and executive teams with a tailored portfolio of business support tools, education services and access to a select group of more than 50 business advisory and investment partners.  In addition companies will have access to the programme’s Entrepreneurial Fellow, angel investor Sean Phelan, founder of Multimap.

Matt Hancock MP

According to recent figures from the Confederation of British Industry, SMEs account for 99.9% of private sector companies and provide 60% of private sector jobs.  These enterprises have an important role to play in driving growth, opening new markets and creating jobs.  However, some SMEs often find it difficult to expand their businesses because they find it difficult to access resources, funding and build new key business relationships.

The Elite programme aims to address these problems by guiding those on the programme on how to adapt and shape their businesses so that they can provide sufficient information, credibility and trust to an investor.  They will also be directed on how to increasing their businesses visibility and attractiveness to potential investors.

Professor Gerry George, Professor of Innovation and Entrepreneurship and Academic Director of the ELITE UK programme, said: “Our aim is to provide businesses with the vision, strategy and tools to grow. A key benefit is to have a cohort of entrepreneurs with the same purpose of creating value from new opportunities.  The shared sense of purpose and the support network allows these businesses to access financial resources, advice, and talent to take on new challenges in their growth journey.”

Italian inspiration

The ELITE programme has already achieved success in Italy where the programme was launched in 2012. To date, 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. 

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 scheme to support high growth businesses. SMEs are often the most ambitious companies, but to get ahead they need new resources, new relationships and new funding which many businesses find challenging 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 types of companies, fast developing SMEs, will fuel the long-term growth of the UK economy, and that the ELITE program is a great platform to help them achieve their full potential.”

The programme will be open to only a selected group of UK companies, chosen twice a year by an Approvals Committee. The first 20 companies chosen by the Committee include manufacturing, technology, healthcare, retail and media businesses. 

See the press release of this article