European Commission - Internal Market, Industry, Entrepreneurship and SMEs

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Boost – Lancashire’s business Growth Hub

Title of measure
Full title in national language:
Boost – Lancashire’s business Growth Hub
Duration:
2013
Policy objectives Plus
Presentation of the measure:

Boost aims to get Lancashire the place for growth and thanks to a £7.2m programme of top quality business support, growth-hungry businesses here in the county can get access to a number of funded programmes in areas such as mentoring, product development, leadership development, and accessing finance.
Launched in 2013, Boost’s remit is to grow the county’s economy by £20m, while creating more than 1,200 new jobs and safeguarding 700 more by 2015.
The growth hub has been developed and will be delivered via a partnership between Lancashire County Council, Community & Business Partners, UCLan, Lancaster University, Regenerate Pennine Lancashire (RPL) and Winning Pitch, with £3.6million of funding provided by the European Regional Development Fund (ERDF). In November 2015, Boost secured £7.8m of new funding to run for a further three years starting as from January 2016. The service is aiming to advise and assist a further 4,118 businesses in the county, creating 2,891 jobs and helping to establish 699 new businesses – increasing the value of the Lancashire economy by £50m.
 

Keywords:
Budget, source and type of funding
Year2016
National public funds
Regional public funds
EU Structural Funds 7,800,000
Private funds
Other
Form of funding provided
Grants
Policy learning
To what extent the measure can be considered as a success and worthy of policy learning?:
There is evidence of an impact of the measure based on verifiable indicators or an evaluation (e.g. sales generated from new products, jobs created, etc.)
Evidence of outcomes based on evaluation and other evidence:

Important positive factors for affecting the degree of success of the measure:

  • Active ecosystem about innovation.
  • SMEs inclined to innovation.
  • Presence of Universities.

Vice versa a negative factor is the lack of cooperation and collaboration between the actor of the entrepreneurial and innovative ecosystem.

What are the most important “Do’s and Don’ts” that regional stakeholders should be aware of when launching a similar measure?:

In launching this kind of measure is important having an overall economic picture of the territory. In particular regional stakeholders must analyse the entrepreneurial activity in the area. After understanding the main needs, it is necessary provides actions for covering these lacks. It is important avoid focusing only on economic indicators but is better focusing also on indicators about education and innovation in order to have a better vision.
 

Would you recommend this measure as an example of regional good practice to policy-makers from other regions ?:
Yes
Organisation(s) responsible
Evaluation report(s)