Member Article

Closing the gap between the Northern Powerhouse and the Midlands Engine

The last two years have all been about boosting the economic growth of the North of England and The Midlands by investing in skills, innovation, transport and culture; manifested in the creation of both the Northern Powerhouse and the Midlands Engine.

Two leading entrepreneurs, from a firm with offices in Manchester, Nottingham and London, are now arguing that not enough has been done to unify the two proposals in a way that would ultimately strengthen both.

Mark Onyett and Mark Sanders sold their last technology and analytics business, TDX, for £200m in 2014 and credit this experience with giving them a new approach to business. Now, recently expanded Blenheim Chalcot, sets out to build companies, as opposed to just funding them with the mantra “we are venture builders, not venture capitalists”.

They believe Manchester and Nottingham, where Blenheim Chalcot currently operates co-working spaces Accelerate Places, are currently both being disadvantaged due to a lack of unity between the Northern Powerhouse and Midlands Engine. They are calling for more to be done to strengthen the ties and are launching a cross-region pitch competition for entrepreneurs to win a £35,000 business support package including desk spaces in both locations, cash investment and expert ‘scale up’ mentoring.

Mark Onyett says: “Having operated in both cities, I can see so much crossover and potential for business owners. The majority of private equity is still held in London and being based outside of the capital can sometimes restrict industry development. But with more collaboration, shared learning and by joining forces, the cities have the potential to make a powerful overall contribution to national competitiveness and outcomes.

“Both regions excel in creative, tech and digital sectors, as well as science and fashion, so sharing of skills and learnings can only be a good thing, especially to attract and retain the best talent and to appeal to investors from the capital and beyond. “We have deliberately opened Accelerate Places co-working spaces in both Manchester and Nottingham and we can see the level of entrepreneurship, innovation and ideas coming out of our work hubs. Entrepreneurs are working together in each city, but why not open this up and share expertise across cities?” Mark adds: “Both Manchester and Nottingham are buzzing with talented entrepreneurs trying to get their foot in the door and we’re offering a great opportunity to kick start their idea and work cross-region by offering desks and mentoring across the two locations.

“We’d be interested to speak to companies that are keen to work across cities so welcome entrepreneurs with visions beyond Nottingham and Manchester too. It’s our personal crusade to link these two fantastic regions.”

Manchester businesses are being invited to send a two-minute video pitch either via the website or on email, from now until 20th October. Five shortlisted companies will be chosen to present their ideas in person at the pitch night on 31st October.

For full details on how to enter the pitch night challenge, visit: https://www.accelerateplaces.com/accelerate-pitch-competition/

This was posted in Bdaily's Members' News section by Francesca .