Empowering Basildon’s Entrepreneurial Future with Fossu Ltd
In early 2023, Fossu Ltd was entrusted as the delivery partner for Basildon’s digi-tech pre-accelerator programme, Launch-It: Creative Tech Accelerator. This initiative, backed by the UK Shared Prosperity Fund (UKSPF) and aligned with Basildon Council’s strategic priorities, aimed to ignite the entrepreneurial spirit of pre-start and early-stage businesses within the Basildon and wider Essex area. Through a combination of dynamic engagement events and a structured 10-week accelerator programme, Launch-It sought to empower entrepreneurs in the digital and tech sectors while fostering inclusivity and representation.
Objectives and Approach
Fossu Ltd was tasked with two core objectives:
Attracting High-Quality Start-Ups: Identifying promising digital/tech businesses that could benefit from the programme.
Promoting Diversity and Inclusion: Ensuring the cohort reflected the local community by engaging with underrepresented and diverse entrepreneurs.
By leveraging targeted outreach strategies, community partnerships, and an unwavering commitment to quality, Fossu Ltd not only met these objectives but exceeded the ambitious targets set by Basildon Council.
Key Achievements
1. Outperforming Engagement and Diversity Targets
Engagement Events: Over 300 attendees participated in programme events since 2023.
Applications: Secured over 100 applications for the Launch-It accelerator.
Diversity: Surpassed inclusivity goals with 55% women participants (target: 40%) and 45% BME participants (target: 30%).
2. Exceptional Programme Delivery and Participant Experience
Delivered over 40 hours of tailored programming and mentoring per participant.
Achieved an average Net Promoter Score (NPS) of 9.3, significantly above the industry average of 8.5.
3. Hosting a Successful Demo Day
The programme culminated in a high-profile demo day, which brought together 10 renowned angel investors and provided participants with the opportunity to pitch for funding. This event not only celebrated local entrepreneurship but also showcased Basildon as an emerging hub for digital and creative tech innovation.
4. Real Impact on the Local Economy
Created over 8 new jobs since 2023.
Raised over £250,000 in investment for participating start-ups.
5. Building Basildon’s Reputation
Through the Launch-It programme, Basildon is now recognized as a rising hub for creative and digital tech start-ups. Local business groups have shown increased engagement, and there has been notable interest from London-based investors.
Long-Term Impact
Since its inception, the Launch-It programme has supported over 60 entrepreneurs across two successful cohorts. Fossu Ltd’s delivery of the programme has played a pivotal role in establishing a thriving entrepreneurial ecosystem in Basildon, fostering innovation, and driving economic growth in the region.
Conclusion
Fossu Ltd is proud to have partnered with Basildon Council in delivering the Launch-It: Creative Tech Accelerator. Over the last two years, we have not only met but exceeded expectations, creating a meaningful impact on the local community and economy. By fostering a culture of innovation, inclusion, and collaboration, we continue to support Basildon’s vision of becoming a beacon for digital and creative entrepreneurship in the UK.
Let’s build the future together.
Interested in how Fossu Ltd can help your community or business unlock its potential? Contact us today to learn more.