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Key partners from the city should be integral in discussions to assist with activating early-stage businesses. As an example, the University has spin-outs which could represent an opportunity to support local businesses while retaining talent.

Utilise the strengths of the economic development teams within the University to develop the action plan for the city's future.

Use the city's and its people's strengths to ensure that incoming businesses are welcomed and introduced to the right people as a campaign for attraction and provide incentives for business in place.

Work with the university to ensure courses are relevant to future skills and development for CWAC, so talent is pulled through and aligned with local businesses.

Engage on a deeper level with Code Nation to increase skill population and cross-learn with relevant courses that play to future strengths, supporting the programme through marketing and activity powered by CWAC.

Leverage the city's strength and creative and cultural sector to appeal to start-ups by holding programmed cultural events and referencing the creativity.

Develop the marketing message of the connected city by using the hybrid working accolade.

Develop a programme of meet-up events with key speakers for events and utilise local partners who have experience and scars from “building a business”.

Actively pursue those websites that evaluate start-up cities via start-up support, grant funding, quality office space at reasonable rates, networking events for business, and meet-up groups.

Over the last ten years, the number of programmes designed to accelerate business growth has grown exponentially. Effective accelerator programmes have become one of the most important ways to nurture young companies from startup to scale-up and beyond. Since their inception in Silicon Valley with Y Combinator in 2005, these programmes have helped entrepreneurs grow their ideas from just that: ideas into successful, fast-growing businesses.

There are many programmes across the UK, though, like any programme, there are those that deliver and those that don’t. The last couple of years have seen a slow in programme growth, but their impact on business growth is undeniable. An accelerator offers programmes to help start-ups grow. These programmes have increased dramatically in the last few years, with accelerators specialising in everything from niche verticals to a specific stage of company growth. Attending an accelerator is a good indicator of a company’s potential to proliferate.

Beauhurst data of 2018 showed that 77% of accelerators declare sector specialism. When broadly grouped into categories, most of these are focused on tech, with 48% defining themselves as tech accelerators. This comes as no surprise since, by definition, most accelerators are for technology businesses.

For Chester, the opportunity to run a programme to accelerate businesses, whilst aspirational, will require a different level of understanding and discussion with key partners.

Outlined over the following pages is an evaluation of programmes all designed to help boost business growth.

The key recommendations for Chester (and CWAC in part) would be to:

Develop the investment capability and angel network within the region

Build relationships with local partner organisations, such as Deepbridge / Oxbury Bank / University / Grosvenor Food and Agtech, to activate an accelerator programme within suitable timeframes and identify the relevant sector focus for the partner. Having an appropriate sponsor for each themed programme would create an advantage for long-term sustainability.

An incubator could be activated earlier in the city with relevant space if space could be located within Industry in Hand bridge.

Programmes which look to build business rely on proximity and community. Having these based within a physical building would be strongly recommended. The shared learning and knowledge transfer as much as the programme creates success.

Perhaps more interestingly, a significant portion (10%) of accelerator programmes are “impact” focused, looking to encourage innovative businesses that will benefit society. The remainder is agnostic with no specialism.

Virtual programmes can be successful, but they will rely on a physical space at critical times. Previous experience would indicate that virtual programmes do not deliver the same outcomes for those teams present.

It will take time to build a reputation to attract businesses for incubation and acceleration, so the suggestion would be to create a workspace first to gather businesses and establish the city's reputation.