Alacrity will ‘hot-house’ new business creation in Cornwall’s Digital Games Industry by piloting and proving the concept for a cutting edge new business creation programme in Cornwall.
This is a pilot business start up project unlike any other than has been publicly funded in Cornwall before. Instead of starting with the entrepreneur and their idea, it starts with the customer and their need. It then takes the brightest and best graduates and aims to solve the customers need and build a high growth start up around the solution. The graduates receive business mentoring alongside support to develop the solution ensuring a legacy of sustainable high growth businesses in the digital games sector.
Alacrity Falmouth is designed to create a new generation of Cornwall-based companies in the high value Digital Games sector. This innovation programme works by building businesses to meet known demand arising from global markets. In so doing it enhances the UK and Cornwall’s competitive position as a producer and user of digital applications and creative content.
- Alacrity Falmouth extends Falmouth University’s role as a talent generator at the centre of a growing digital creative hub. The programme capitalises upon and retains the brightest graduate talent for the longer term economic benefit of Cornwall.
- Alacrity Falmouth has the unique attribute of being entirely demand-driven. Falmouth will work with a number of strategic partners in the Digital Games industry to source real ideas, needs and pent-up demand, which graduates address as open briefs. In this way, new companies are not created on the back of insubstantial ideas or perceived need but with real and quantifiable demand. In other words new companies are literally built to order, minimising the risks usually associated with a new start-up company.
- Alacrity Falmouth will use the proven Alacrity approach of placing graduates in incubator teams of 4 in an intensive ‘hot-house’ environment. This methodology and programme has track record in the form of the extremely successful graduate entrepreneurship model established by the Alacrity Foundation in Vancouver, Canada and Newport, Wales. A shorter programme based on a similar model, Y Combinator, operates in California, USA.
This is a market and investment led graduate entrepreneurship programme which will:
- Drive innovation and create new businesses and jobs in Cornwall in the high growth Digital Games sector;
- Attract, capitalise upon and retain entrepreneurial talent in Cornwall, for the long term benefit of the Cornish economy;
- Create a new environment and model that aligns specially recruited talent with major real-world market opportunities;
- Attract high quality investment and investors into Cornwall;
- Provide graduates with specialised entrepreneurship support, business guidance and mentoring from experts in the Digital Games and associated business sectors;
- Provide employment and equity for graduates in a new business they have founded themselves;
The objectives of the project are to create:
- To pilot and prove the concept for a cutting edge new business creation programme in Cornwall;
- Four new high growth businesses based in Cornwall (year one);
- Sixteen new graduate employment opportunities (year one).
As a result we will:
- Strengthen Cornwall’s Digital Games design and technology sectors;
- Drive up levels of entrepreneurship and the commercialisation of innovation and IP in Cornwall;
- Retain a greater proportion of talent in Cornwall and capitalise upon it for Cornwall’s economic benefit;
- Contribute to the indigenous human and intellectual capital in high technology industries.
The project will create four new high growth businesses based in Cornwall and sixteen new graduate employment opportunities.