ASCEND is designed to assist in the most promising Derby City businesses to prepare and implement growth plans, and where appropriate, support them in securing investment.
Ascend has three programmes for businesses to apply for:
Ascend Growth Readiness - access to high quality multi-disciplinary business support, mentoring, coaching and technical expertise to support in the development of a detailed two-year growth plan. Eligible businesses will be early stage, seeking to validate its product, target and organisational development with an ambition to grow by at least 20% per annum, increase staff and revenue significantly over the next 24 months.
Ascend Investment Readiness - as per growth readiness, but with a focus on developing an investment case, in the form of an Investment Memorandum, which can then be used to begin meaningful discussions with potential equity investors. Eligible applicants will be operational businesses that have validated their product, market and organisational effectiveness, and that is growing, has sustainable unit economics and seeking to grow faster. The business must have an ambition to raise external equity finance in the next 6-12 months, operational for at least 12 months and less than 12 months away from being investment ready.
Ascend Scale-up Growth Project - a loan scheme designed to assist in supporting the physical business growth in the form of capital investment in Derby with the ultimate aim to create sustainable new jobs. This fund enables businesses to invest in projects that would not otherwise happen. Loans will be up to 50% of between £20k and £240k total capital project costs such as plant/machinery, land and building purchases or capitalised software.
If you would like to know more about the support available from D2N2 Growth Hub please complete the form below.
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