Preparing companies for rapid growth
While there are numerous programs across the state that provide support and assistance to startups, Scale Up Milwaukee, an initiative of the Greater Milwaukee Committee, focuses on helping business in all stages prepare for rapid growth. Scale Up’s flagship program, called Scalerator, focuses on three primary areas: sales and marketing, organizational development and entrepreneurial finance. Using Babson College professor Daniel Isenberg’s proven model for promoting entrepreneurship, Scale Up Milwaukee convenes a diverse group of stakeholders, including private sector-leaders, public officials, investors, entrepreneurs, university faculty and local economic development support groups, to develop actionable strategies for high-growth, high-impact entrepreneurship in the region.
WEDC has invested in Scale Up since its inception in 2013 through its Targeted Industry Projects Program, which advances targeted, high-growth business consortia and industry sectors to enhance the development of high-quality jobs and significant job growth in Wisconsin.
Track record of success
Dozens of companies ranging from 5 years old to more than a century old have seen a new phase of rapid, significant, and profitable growth because of the resources they received through Scale Up. Companies that have completed the Scalerator program have seen significant results in increased revenue and private investment funding, job growth and enhanced engagement within the ecosystem. Equally impressive is the diversity and broad range of partners in both the private and public sector that are actively engaged with the Greater Milwaukee Committee to ensure the success of this innovative initiative. While Scale Up Milwaukee was initially launched with funding from American Express OPEN, WEDC and corporate and private donors, the program now boasts hundreds of corporate and private foundation funders, and has received international attention for its impact.