Frog’s Joe Krancki recently spoke on a panel at Tech Fundamentals Live, following the November publication of “The Scale-up Report on UK Economic Growth” by serial investor and entrepreneur Sherry Coutu CBE.
Investigating why the UK has a lower share of large businesses than many of its international peers, the report recommends measures to close this “scale-up gap” by 2025, creating 150,000 new jobs and adding £225 billion gross value added.
The UK is great at creating new businesses, but falls behind in growing them as far and as fast as other countries such as the US, report author Sherry Coutu said.
“People often ask if the UK could be home to the next global success story. The answer is yes. But we need to be more effective at identifying the British companies that have the greatest potential, and making sure they can find the most talented people and serve more customers, in more countries, more easily. Britain has built a fantastic base of skills, capital and regulatory support. Focusing on closing the “scale-up gap” to the US and other countries is the next natural step that will help Britain create a string of world leaders,” said Joe.
Joe praised the new term ‘scale-up’, a more accurate description than ‘start-up’ or ‘SME’ for companies with fantastic growth potential. The term denotes 20% per annum growth for at least 3 years, and a minimum of 10 employees.
“This report is great collateral for Frog”, said Joe. “It shows the opportunity there is in Europe to invest in ambitious growth-stage companies.”
Listen to the full discussion here:back to top