SUCCESS
Meeting – an added benefit of the Tees Valley Labs ’ programmes is the opportunity to network with other industry leaders .
HOME-GROWN
How Tees Valley Labs is supporting future job creation and prosperity on Teesside
WORDS : SARAH WALKER PICTURES : TOM BANKS
Teesside businesses on Tees Valley Labs ’ Forge and Stable programmes , which are actively developing home-grown businesses that will support a positive future for the whole region , are bucking the national trend when it comes to female and BAME entrepreneurship .
Tees Valley Labs is delivered on behalf of the Tees Valley mayor and Combined Authority and is funded by the UK government through the UK Shared Prosperity Fund .
The two programmes are supporting entrepreneurs , start-ups and scale-ups with essential resources , mentorship and grant access , offering new and established businesses the opportunity to flourish .
The Stable is the programme for new businesses , while The Forge is supporting established businesses that have the potential to innovate and grow .
A total of 31 % of successful applicants across both programmes are female , while nine per cent are from Black and
Minority Ethnic ( BAME ) communities .
A report published by the House of Commons in March 2024 stated that only 18 % of the UK ’ s small and mediumsized enterprises with employees were led by women in 2022 .
This suggests Tees Valley is leading the way when it comes to support for female entrepreneurship in 2024 . “ The 34 % of women on the programme and 9 % from Black and Minority Ethnic communities are all launching businesses that we hope will grow to thrive in our region ,” says Imran Anwar , programme director for Tees Valley Labs and owner of Alt Labs , which helps other organisations to progress by embracing innovation and new technology .
“ This has all been achieved through a different , innovative approach to launching and supporting businesses , which has never been done before in the UK , as a programme for entrepreneurs , led by entrepreneurs – by people who have been there and done it .”
As well as Alt Labs , the programme also benefits from the experience of partners including Barclays Eagle Labs , Ward Hadaway , Brewin Dolphin , Do and Grow , Abacus Bean , Flok and Media Works .
“ They are all contributing to the wider picture of new business growth , job creation and job safeguarding here on Teesside ,” Imran said .
Meanwhile , the successful Stable and Forge cohorts are busy investing time in developing their businesses .
While The Forge and The Stable programmes have now closed after a rigorous recruitment process , there is still an opportunity for all businesses to benefit from business support events through the Tees Valley Labs programme .
Imran said : “ We still want to encourage businesses to get in touch with us , as there is still a lot we are actively doing to support people in their businesses .
70 | Tees Business