The LBS Incubator, which is now entering its eleventh year, has now helped support 114 companies, raising a total of £70 million pounds, while creating more than 650 jobs to-date. The programme has this year received a record number of applications, 14 of which have been accepted, up from the customary 10-11 participants in previous years.
LBS’s Director of Entrepreneurship Jane Khedair said that the programme will operate remotely while social distancing restrictions remain in force: “We have a content-rich schedule for the 14 businesses and a package of support worth in excess of £250k per start-up, all delivered on a pro bono basis by our fantastic Supporters.
“LBS and our partnering community of Supporters, companies which include Shoosmiths and Stripe, are fully invested in the development of great ideas. With the right resources and instruction we can all help to ensure tomorrow’s entrepreneurs are given the freedom to innovate and prosper.”
The LBS Incubator programme helps promising entrepreneurs launch their business venture, enabling successful applicants to cultivate their ideas and capitalise on their market potential with LBS’s specialised support services for early stage enterprises.
“Key to the success of the School’s Incubator community, is the access to the knowledge and expertise of the School’s faculty and alumni, while benefiting from London Business School’s world-leading brand,” says Ms Khedair.
Successful businesses are drawn from a broad range of industries including finance, retail, philanthropy, automotive, health and beauty, and food and beverages. Audrey Koh, CEO of figgy, an early-stage, pre-launch, UK startup in the health and beauty tech sector, said: “We are very excited to be a part of the LBS Incubator programme.
The School’s brand, resources and network of LBS experts will be invaluable to helping to change the way people access information and make decisions on acne treatments.”
Sabino Correa (SLN2019), co-founder and CEO of Immunie, a digital vaccination records network, powered by Blockchain, said: “The LBS brand will be extremely beneficial to Immunie and we hope to positively reinforce that brand through the success of our venture.”
Guillaume Poncet (MBA2020), founder and CEO of Juno Bamboo Water, an innovative drink made with bamboo leaf extract, sparkling water, and a hint citrus fruit, yuzu, said: “Having the backing of LBS will help our business grow sustainably, while spreading our eco-friendly messaging. We’re proud that Juno donates to global reforestation projects.”
Mike Gammell (MBA2018) is founder of Days, an independent beer business that aims to change the way the world consumes beverages. “Using locally sourced Scottish water and malt barley with a unique double fermentation brewing process that never produces alcohol we have created a range of crisp, fresh and sessional alcohol-free beers that pair with our consumer and their lifestyle. We’re looking forward to learning how we can further develop our brand, and grow our market share through the LBS Incubator programme.”
LBS’s Jane Khedair said: “At LBS we feel very much that the School’s unique approach to incubating and creatively nurturing new businesses is, in this extremely challenging year, also playing an important role in creating opportunities and supporting employment across the UK.”
For more information about London Business School’s Incubator programme, including more information about the programme’s Supporters and Incubator Businesses, go to this page.