The Challenge
Our city transformation programme, Exeter City Futures, made the assumption that if Exeter defined a clear market and real-world challenges, then innovators would respond and the city could access solutions to meet the most pressing needs.
However, with the region having one of the lowest innovation indexes in the country this assumption wasn’t accurate.
To ensure success of Exeter’s transformation, there was an urgent need to build a strong entrepreneurial ecosystem in the city to harness and nurture innovative ideas that directly contribute to the creation of a vibrant, sustainable and inclusive Exeter.
Our Solution
Global City Futures designed the blueprints for a place-based accelerator that can attract talent to the region and build a pipeline of innovative start-ups to help tackle urban challenges.
This was launched in 2017 under the brand ‘Exeter Velocities’.
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The Result
Since Exeter Velocities opened its doors in Exeter, Global City Futures have worked with a range of entrepreneurs; from those specialising in on-demand and shared mobility to those committed to transforming the wide-scale adoption of renewable energy.
Exeter Velocities has assisted in building 34 ventures, generating 17 jobs and brokering 18 city pilots to test new technologies. Teams within the programme have raised over £6m in investment to date.
In 2019, the Exeter Velocities brand was licenced to Exeter City Futures CIC to be used to accelerate development of commercial and social enterprises who can make impact on pressing environmental and social challenges in Exeter.
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Start-up Spotlight: Aceleron
Aceleron – winner of Shell’s UK and global LiveWIRE entrepreneur innovation programmes and listed in Forbes’ ‘30 under 30’ 2017 – have patented a unique lithium battery pack design that enables them to be repaired, restored and reserviced for new applications.
This gives batteries that would otherwise be thrown away a second life, to reduce energy waste, lower energy bills and help transition to renewable energy. Aceleron are rethinking energy storage as a service.
See the full and diverse portfolio of high-profile start-ups that Exeter Velocities have gone on to support, here.
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Project Lead, Partners & Stakeholders
