Seeking Missional Founders and Their Place in the Sheffield Start-up Ecosystem: Everything You Need to Know About TwinklHive
TwinklHive is a business accelerator based in Sheffield which supports missional founders by providing space, blended investment and support to accelerate the growth of innovative companies. Launching back in 2019 with the aim to expand Twinkl’s mission ‘to help those who teach’, TwinklHive has invested and supported businesses that have found new ways to solve problems and help educators.
In January 2021 TwinklHive Manager, Amber Jardine and Resident Growth Manager, Emily Scicluna featured on Sheaf Valley’s podcast, hosted by Denislav Ivanov — in this blog we revisit that podcast.
In the podcast Amber and Emily talk about how TwinklHive has evolved as an accelerator, growing beyond EdTech to support missional driven digital start-up’s more broadly. Read below to truly understand exactly what TwinklHive are looking for in founders and start-ups; and find out why they think large successful companies should follow in the footsteps of Twinkl and contribute towards supporting and nurturing startups and entrepreneurs.
Why is it important for a startup ecosystem to have successful companies like Twinkl invest into start-ups and start-up support?
Em: I think it’s so important for larger successful companies to get involved with start-up support if they can because they have so much to offer. Successful companies have the ability to share insights and experiences that can help start-ups avoid common pitfalls and costly mistakes — both associated with setting up a company in general but also within particular sectors. For example, Twinkl can give so much advice about how to navigate working with schools and within the EdTech market.
I think start-ups benefit from this support and guidance to deliver key aspects of their business plan more efficiently and ultimately, quicker, in order to enter the market and to scale. Supporting start-ups can benefit the larger companies as well. It can help them keep their finger on the pulse within their sector and keep that quick-paced start-up culture alive for them. The benefit really works two ways — they will learn and gain insight from the start-ups too.
How do you work with start-ups exactly, could you take us through the process of the relationship?
Amber: At the very initial stage, it is our application process that start-ups will come into contact with first. For us, that’s an opportunity to find out more about the start-up, its values, mission and ultimately, the problem that they want to solve for their customer. This is done through an application form and video call. If we are confident with the investment opportunity, we then iron out the details of the investment, and we do this through emails and meetings. We will decide on the cash amount, the services we provide from Twinkl experts as part of the package and we will also discuss whether they want to relocate and take potential residency in our Sheffield office.
Once a founder is onboarded into the Hive, we then start the process of understanding the company in detail, including their business plan and long term goals, just so that we are all aligned. We then welcome them into the Hive community, introducing them to other founders, and set up regular mentoring sessions between themselves and Jon Seaton, Twinkl’s Co-founder and CEO. From this point onwards, we work to support their growth in any way we can — from access to Twinkl’s services including our Innovation Lab, Project Managers and Marketing teams, to introducing them to our wider network.
You are starting a new space for entrepreneurs in Sheffield, could you tell us a little more about that?
Em: We wanted to help our founders in the Hive expand their network, we did some research and found that entrepreneurs can feel quite isolated and that if you are the only person in a start-up team you may not have a lot of people to connect with who truly understand what it means to be an entrepreneur. From a digital networking point of view, we are soon to be launching a community for members of the investment and entrepreneurial ecosystem. Register your interest here. As a digital community, the group is open to entrepreneurs everywhere, not just in Sheffield. Not limited to entrepreneurs, the digital space is for business advisors, investors and anyone interested in innovation and start-ups more broadly from all sectors, not just EdTech. It will be aimed at stimulating peer support and mentorship, and encouraging those involved to celebrate their successes and overcome challenges together.
You state on your website that you’re looking for ‘missional founders who would like to make a difference’. ‘Making a difference’ is sort of a buzz-term in the start-up world, what do you mean by that at Twinkl?
Em: Twinkl’s mission is at the heart of everything we do and we want to support other companies which really centre around making a positive impact on their customers or achieving social good. So when it comes to evaluating start-ups for the Hive, ‘making a difference’ means start-ups with founders who are driven by a clear mission. This is so evident when you meet founders; missional founders are so keen to talk about the impact of the problem they are trying to solve and how they want to alleviate that problem. They have made an effort to make sure that a customer focus runs through everything that their company does. It’s reflected in the company’s product/service, in their culture and in the way they do product development, it’s really evident when we’ve got a missional founder on our hands and that always makes us really excited.
Considering the start-up debate of what matters most, profit or mission, how important is it for businesses that want to apply to the Hive to also have a clear picture of how they are going to make money and how they are going to be financially sustainable?
Em: It really is about striking that balance — we do see having a clear mission and solving a real problem being absolutely top of the list in terms of importance, but we also look for there to be that clear plan in place. Knowing when the company will turn a profit also key.
It’s really about us trusting that the founder has the skills to make their company into a successful commercial venture. As we are dealing with early stage start-ups, it is about connecting with the founder and trusting that they are going to take the company in the right direction.
Going to your website, it amazed me how easy it is for a start-up to apply and get in touch. What do you think have been the biggest challenges up to date to find your target group of businesses?
Amber: Our target businesses at the minute involve mission-driven start-ups in digital sectors. While we do specialise in EdTech as that’s where most of our expertise lies, one of our challenges has been in shifting people’s perceptions of TwinklHive and communicating that our criteria goes beyond EdTech. Lots of start-up founders assume that their application is a long shot because Twinkl is an EdTech company so the challenge is ensuring that we are communicating the breadth of our start-up criteria effectively. We’ve worked hard to build a brand that reflects our EdTech expertise but also our willingness to embrace companies outside of it.
There’s a lot of benefits in joining TwinklHive, but what would you say is the single biggest one in your opinion?
Em: The main thing that sets TwinklHive apart from other accelerators is giving founders and their teams the opportunity to access services delivered by Twinkl’s in-house experts. Start-ups often have small teams and outsourcing work can be really expensive, so we help them to achieve their goals without overspending on external resources.
We offer access to a variety of Twinkl teams who offer their support, both through consultation and work carried out. This includes everything from consultations with experts about selling products, to the conception and delivery of innovation projects and the scoping and building of web development projects. The support often includes an element of upskilling the start-up team so they can implement the strategies in the future themselves. For example, our SEO package includes delivering SEO training sessions for the start-up team.
Let’s talk about Sheffield’s start-up ecosystem — Twinkl is one of the examples of a local business succeeding and giving back, how can other companies of that rank follow your example and contribute more to the ecosystem?
Amber: Being based in Sheffield has impacted Twinkl’s growth overall and because of this, we want to highlight what Sheffield has to offer and support the economy. One of the main things larger companies can do is around that education piece. Speaking at events or attending panels to share knowledge and expertise as well as promoting entrepreneurship as a valid career path. Starting up a business is an option for young people and so it’s about nurturing that entrepreneurial talent. We launched a scholarship fund last year to support young entrepreneurs in South Yorkshire to build and grow their own businesses with support and funding provided by Hive. I’d also say investment is an important element. Whether that’s providing your time through support and mentorship or through financial investment, supporting like-minded businesses or start-ups whose aims align with your company’s mission is key.
The trends in EdTech — talk us through them and what should we expect in 2021 for EdTech, TwinklHive and its startups
Em: In terms of TwinklHive, this year we will be focusing on outreach and helping more entrepreneurs than ever before. We are currently piloting the TwinklHive Scholarship, which is giving a grant of up to £40,000 and also providing support for young entrepreneurs of South Yorkshire. The second round of applications will be open in May 2021. In addition to this, starting on the 16th March, we are running a Business Programme for young entrepreneurs based in South Yorkshire that will teach them how to transform ideas into validated business concepts, giving them some actionable steps to make that happen. It would also help them prepare for the Scholarship, should they wish to apply.
To mention trends in EdTech more broadly online safety has been highlighted during COVID-19 as really key for EdTech to be successful. Many students have been working from home and this interest in online safety and digital literacy has come alongside the release of the new PSHE curriculum. We are expecting startups to innovate solutions that address the new curriculum and the importance of teaching children how to be safe online. A great example of that is one of our resident startups, Natterhub. Their mission is to help children be prepared to thrive online and they have a safe social media platform for children and online safety lessons to prepare them.
Another trend in EdTech is e-learning and accessibility to education. Bridging the digital divide is another really important area of education which deserves focus, and it’s something we are really passionate about at Twinkl. Twinkl has been working with Sheffield initiative, Laptops for Kids, since the first lockdown to help distribute laptops locally and keep children learning across Sheffield, when they are not able to be in school. The charity refurbishes laptops donated by local businesses and gives them to school children who otherwise wouldn’t have the technology and equipment needed to help them study at home.
How can TwinklHive and their startups be more connected to other startups hubs in Sheffield (Sheff Tech Parks, Kollider, etc.)
Amber: As I have mentioned before I think it’s about regularly attending those networking events and creating relationships with like-minded individuals across the region.
TwinklHive was one of the founding members of the Sheffield Incubator and Accelerator Network (SIAN), which connects the various start-up support providers available in Sheffield and allows us to centralise our activities into one place, so we can effectively signpost entrepreneurs to the best available support. I also think getting involved in our soon to be launched digital networking platform is a great opportunity. We’re inviting other start-up support providers in Sheffield to join our digital networking group for entrepreneurs and encouraging them to invite their own start-ups and founders, which will enable startups in Sheffield to be more connected.
For more information on what the Hive offers and how to apply go to www.twinkl.co.uk/hive or email us at hive@twinkl.co.uk
If you are interested in our TwinklHive Business Programme: Introduction to Entrepreneurship or the Scholarship please get in touch for more information.
Thank you to Denislav Ivanov for inviting us to speak and feature on Sheaf Valley’s podcast. Listen to the full podcast here.
