Scotland has an enviable network of business support organisations.
The ambition for this ecosystem to evolve has been set out by the Scottish Government through its 2022 National Strategy for Economic Transformation.
Yet it is said there remains a disconnect between aspiration and reality.
Scotland has so much entrepreneurial potential, but the challenge of unlocking it fully is one that continues to evade us.
Elevator and its mission
With headquarters in Aberdeen, Elevator UK is Scotland’s leading private-sector organisation dedicated to supporting the business start-up ecosystem.
Its mission is to ignite, nurture and grow entrepreneurial spirit across Scotland.
Elevator believes nurturing the “forest floor” is crucial – the best way to have lots of growing firms is to firstly have lots of companies. Key to this is creating opportunities for those people who would not otherwise be considering starting their own businesses.
The entrepreneurial landscape in the Aberdeen area holds immense potential for aspiring innovators and business leaders.
While the region offers a robust platform for start-ups and small and medium-sized enterprises (SMEs) to flourish, Elevator says there are many challenges. The volatility of the energy sector, access to funding and talent retention can pose significant hurdles.
But these issues are counter-balanced by a wise range of opportunities.
Collaboration is key to unlocking entrepreneurial potential
A supportive entrepreneurial ecosystem is fundamental to the success of ventures in Aberdeen and beyond. Collaborations between public institutions, private enterprises, and Elevator create an environment where start-ups and SMEs can access mentorship, resources and networking opportunities.
Elevator empowers entrepreneurs through a portfolio of programmes and initiatives.
Those who go to it with aspirations and ambitions are met by “invaluable resources, mentorship and supportive guidance” to realise their visions of starting a successful venture.
Partnership approach can be platform for entrepreneurial minds
A partnership with Business Gateway will see the free-to-attend annual Transform Business Festival return to Aberdeen Science Centre on November 14. The event is a catalyst for connections, knowledge-sharing and inspiration – creating a vibrant platform for entrepreneurial minds.
Other partnerships and projects – such as Elevator’s collaborations with Young Enterprise Scotland, the universities of Aberdeen and Dundee, Scottish Edge and its own Elevator Foundation and Enterprise Challenge educational initiatives – also help grow entrepreneurial spirit.
Engagement with the younger generation of business leaders is not only an investment in their futures, but also a strategic imperative for Scotland’s economic progress.”
Elevator chief executive Gary McEwan said: “We play a pivotal role in nurturing and developing young entrepreneurs, a cornerstone of our commitment to fostering economic transformation in line with the Scottish Government’s national strategy.
“Engagement with the younger generation of business leaders is not only an investment in their futures, but also a strategic imperative for Scotland’s economic progress.”
As the entrepreneurial landscape evolves, young people bring fresh perspectives, innovative ideas and digital prowess that are crucial in driving economic transformation.
Elevator provides tailored mentorship, training and networking opportunities through programmes, such as its flagship Accelerator, which empower young innovators to turn ideas into sustainable businesses.
Every year, the organisation supports more than 2,500 people in Scotland to realise their hopes of starting their own business.
Young chocolatier’s entrepreneurial journey started at Elevator bootcamp
Among them is Chloe Oswald, a multi-award-winning chocolatier who decided from an early age that starting up her own enterprise would give her the chance to directly influence the trajectory of her life.
Elevator first met Chloe though its foundation, and then as a participant on one of its Enterprise Challenge weekends.
These entrepreneurial bootcamps are a key step for many young people to gain the skills and knowledge needed to not just run a business, but to become entrepreneurs.
More than 250 people have benefited from this fully-funded experience to date.
Mr McEwan said: “Discovering young talent like Chloe is one of the most satisfying parts of our work.
“At an economic level, it’s an opportunity for us to nurture businesses that may not otherwise have been created and this has motivated the evolution of our community-enterprise activities.
Untapped economic opportunity
“Having created over 50 new businesses, the success of the Fraserburgh Enterprise Hub has led us to explore further ways to deliver community enterprise support through our E3 model (a national business support network) across Scotland.
“Notably, three-quarters of participants on the E3 programme were not already engaging with mainstream government support initiatives such as Business Gateway.
“We believe this highlights an untapped economic opportunity for Scotland.”
According to Elevator, engagement and participation in entrepreneurial activities must start at an early age.
It must also be delivered in a way that develops an “entrepreneurial mindset”, it said.
“Young people need to understand the opportunities that entrepreneurship brings”, the organisation added.
Building an entrepreneurial culture
Success requires much more than simply providing the tools to start up and grow a successful business.
It also needs confidence-building, inspiration and innovation from everyone involved.
Elevator said it will continue to play a lead role in establishing Scotland as an entrepreneurial nation, working closely with public and private sector partners who share its vision to establish “a greater entrepreneurial culture”.
On November 7, Elevator will be announcing its latest partnership.
The organisation has promised the new tie-up will make a “substantial impact” on the nrth-east’s entrepreneurial ecosystem.
Elevator case study: Maya Vertigans
Maya Vertigans is the 24-year-old founder of Planner Bee VA (virtual assistant) Services.
The Aberdeen firm specialises in supporting sustainable and ethical businesses through the provision of marketing and executive VA administrative services.
After graduating in 2020 and starting a sustainable gifting business, Ms Vertigans entered into the VA world as a freelancer and Planner Bee VA Services has now grown to a team of three.
Busy year for young entrepreneur
She was featured on BBC Radio 4 earlier this year, talking about the life and business she is trying to build. She was also included in the Aberdeen 30 Under-30 (rising business talent) list.
And she returned to her old high school to deliver a talk to inspire the next generation of young entrepreneurs.
In addition to her other accomplishments, Ms Vertigans has had a successful 12 months financially, with her fledgling business hitting the VAT threshold and doubling its annual revenue in year two.
One of her biggest highlights was attending one of Elevator’s Enterprise Challenge weekends.
The weekend taught me that I am capable of more than I thought, and it has given me the confidence to push myself out of my comfort zone.”
She said the event was “incredibly rewarding”, adding: “I gained new experiences, both vocational and personal.
“The weekend taught me that I am capable of more than I thought, and it has given me the confidence to push myself out of my comfort zone.”
This new-found confidence empowered her to apply for a Young Edge award and she has now been selected as a finalist in the annual competition for Scottish self-starters.
Young Edge winners will be unveiled at an awards ceremony in Glasgow at the end of November.
Conversation