We’re absolutely delighted that AceOn’s success has been highlighted in the 2022 annual review by the ScaleUp Institute.
The institute has highlighted our involvement in one of its Innovate UK EDGE peer support groups to show how the groups consistently offer crucial support for companies like ours which want to grow.
Our managing director Mark Thompson is one of five national industry leaders featured in the review reflecting on the challenges they face as they grow and how the peer group has supported them.
Mark tells the ScaleUp review that supply chain issues have been a particular issue as the global economy emerges from the impact of the Covid pandemic.
“In our sector, the supply of products such as batteries, electronics and semiconductors has been a big challenge. The double whammy of adverse exchange rates and rising energy costs are inflationary factors that have been outside our control.
“Our revenues have increased significantly in 2022 and we are expecting turnover to double again next year. So, in 2023 our main challenge will be getting the right people into our business as we scale up; we have to scale up our knowledge, bring in more people with specific skills for specific roles.”
And he says that the peer support group has been an invaluable help as the company has grown – and will continue to be so in the year ahead.
“Once a month, we get that chance to really see where we are and to discuss issues. We share our eyes and ears and you can get things off your chest. We have all bonded as a group and the value we get out of it is absolutely fantastic. Afterwards, everyone in the business knows when I have been on the Innovate UK scaleup peer group! It’s been absolutely spot on for me and I’m delighted the group is carrying on for a further 18 months.
“Engaging with Innovate UK is an absolute must for our business. We are on their Scale Up programme. We are on an Energy Catalyst 8 round. Their grants are massively helpful for our R&D and our ability to trial products and technologies. We are engaged on our first Knowledge Transfer Partnership; we have someone who can bring additional expertise and knowledge into the company and further strengthen our position as UK battery specialists..”
To find out more about the ScaleUp Institute and how it can help you enjoy some of the success we are experiencing, visit https://www.scaleupinstitute.org.uk/
And you can read our full case study here: https://www.scaleupinstitute.org.uk/scaleup-review-2022/insight-peer-groups-the-power-behind-scaleups/
