AMION recently completed an evaluation of the Innovate UK EDGE funded Pitchfest programme for Newable. The programme was delivered by Newable and St Johns Innovation Centre.
Pitchfest was designed to support innovation-led early-stage and scale-up businesses and was part of the Government’s response to the need to support business growth following the Covid crisis. It was designed to enable businesses to be in a stronger position to secure investment.
Support was provided to over 200 businesses across the UK, with support comprising: intensive pitch training; support in preparing a pitch for investment; feedback on the pitch from other beneficiaries and experts; the opportunity to test the pitch to an Investment Panel; and ongoing bespoke support from an Innovate UK EDGE Innovation and Growth Specialist.
The evaluation included a telephone survey of beneficiaries (carried out by Spirul) and consultations with programme staff from Newable, St Johns Innovation Centre and Innovate UK EDGE.
Our evaluation demonstrated that the programme had been successful in helping businesses to become investment-ready and is forecast to deliver significant investment in beneficiaries in the next few years. This is expected to translate into substantial jobs and GVA benefits.