By Constance Sommer
Founders face a myriad of challenges raising funds, hiring skilled workers and deciding which products to unveil next. Relocating to another country might seem like adding a huge hurdle to the mix. But the United Kingdom’s Global Entrepreneur Programme (GEP), a flagship initiative of the country’s Department for Business and Trade, is bringing more innovation to one of the most active funding ecosystems in Europe—and helping internationally mobile entrepreneurs scale and prosper there.
Since 2005, the free program has helped over 1,400 tech-driven company founders relocate their headquarters to the U.K., solidifying the country as a dedicated supporter and partner for scaling businesses. The GEP is designed around listening to what founders actually need: Its innovative model leverages 10 influential global entrepreneurs called “Dealmakers,” who provide ongoing one-on-one guidance and mentorship to pipeline companies on everything from funding to partnerships to building networks.
“We’re unique because it’s entrepreneur-to-entrepreneur support, businessperson-to-businessperson support, and governments don’t tend to do that,” says Simon Sprince, managing director and cofounder of Curator Technologies and a Dealmaker for the last decade. “A lot of companies can’t believe that you’re doing this and you’re doing it for free.”
Ahead, discover the integral role Dealmakers play in the success of the program and how the GEP is powering the next wave of global entrepreneurship in the U.K.
Platforming Innovative Tech Ventures
While Dealmakers scout some companies to apply to the GEP, others hear about the program through their network. “The companies that we look for [are] innovative…with some core IP or something that’s defensible,” says Sprince. “They’ve scaled, they know that their product is right. They have a chance of really doing well in the U.K.”
Following an application process, entrepreneurs are matched with Dealmakers who provide exclusive support and assistance with the relocation journey. Accepted applicants can apply for the Innovator Founder visa through the program to enable them to build their business in the U.K.
For Fyma, an Estonian company harnessing artificial intelligence to analyze movement in urban spaces, its London move started with a nudge from an advisor to apply to the GEP. With existing clients in the U.K. and GEP support, founder Karen K Burns says she felt ready to take the leap. “The market as a whole is well-connected to the rest of the English-speaking world, so if we wanted to make a further leap to the U.S., the U.K. would be the perfect base,” she says.
The program matched Fyma with Sprince, who introduced Burns and cofounder Taavi Tammiste to potential clients and partners. Burns says Sprince became a source to “sense-check” their ideas. Most critically, Sprince connected Fyma with potential investors, including the company’s current funders, who led the €2 million round Fyma recently closed. Burns calls Sprince “absolutely instrumental to the success of the company and where we currently are” for introducing Fyma to the investors it needed.
The GEP’s multilayered support was “invaluable” in connecting Fyma with other tech companies, business communities, investors and service providers, Burns says.
Expert Support And Mentorship
Dealmakers work with participants over several months, lending expertise and assistance in funding, sales strategies, network connections and investor readiness.
WeWALK, a Turkish startup that developed a patented smart cane for visually impaired people, relocated to London with assistance from Sprince and two other Dealmakers. Sprince connected WeWALK cofounder Gokhan Mericliler with leading distributors and helped him apply for the company’s first Innovate UK grant. Other Dealmakers assisted in the visa-application process and raised WeWalk’s profile at conferences and events in the U.K. and abroad.
“[The GEP team] facilitated introductions to key organizations and helped us access crucial funding opportunities, significantly easing the difficulties and setting the foundation for our growth in the U.K.,” Mericliler says.
And as Burns prepared to move her family to Cambridge, England, Sprince introduced her to other women entrepreneurs in the city. “He has created intros with potential clients and also potential friends…so I could build a community around me faster by meeting like-minded women,” she says.
Sprince says Dealmakers broker success and innovation for GEP portfolio companies—as well as the future of U.K. entrepreneurship—by tapping into their abundant networks both at home and overseas.
“For the U.K. ecosystem, we’re bringing international companies to them that wouldn’t normally come,” he says. “For overseas investors…we’re helping them understand what the U.K. can do for them, so that’s really important.”
Sustainable Support For A Resilient Future
After the initial program, the GEP Alumni Academy provides bespoke and ongoing support to entrepreneurs as they continue navigating life and entrepreneurship in their new homes.
Guidance is tailored to each entrepreneur’s needs, from mentor check-ins to workshops and drop-in info sessions, to large events convening portfolio companies and alumni in London. An important piece is building networks among GEP alumni, who Sprince says reach out to each other for support. “We try and get the companies speaking to each other and sharing experiences, which works really well,” he says.
Mericliler considers the Alumni Academy key to WeWALK’s continued acclimation to the U.K. landscape.
“Sharing our learnings and best practices has been very helpful, as many other founders are experiencing similar challenges and are open to sharing their best practices and lessons [learned],” he says.
Sprince remains in contact with founders he helped bring to the U.K. years ago, and is enthusiastic about the GEP’s continued role in platforming innovative entrepreneurs and their businesses.
“When [founders] hear that you run a company and that your connections are live and active and real, then it’s really powerful,” Sprince says. “And that relationship with a lot of companies can become quite long-term.”
Click here to find out more about how the Global Entrepreneur Programme could benefit your business.
