The British Private Equity & Venture Capital Association’s new report, ‘Adapting with Purpose’ tells the stories of companies that have been forced to adapt quickly to the challenges of the COVID-19 pandemic.

Incremental is proud to feature in the new report for its COVID-19 response for ‘business model adaptation’.

The new report, produced in association with Grant Thornton UK LLP, captures a range of case studies from BVCA member organisations that recognise how management teams navigated the COVID-19 crisis in 2020. In the past, this initiative has focused on the BVCA Management Team Awards (Incremental won Growth Management Team of the Year in 2018). On reflection of 2020, BVCA chose instead to recognise outstanding examples where management teams adapted with purpose in 2020.

The BVCA’s members are actively invested in over 4,000 companies in the UK, so there are many examples of how businesses adapted in 2020. Demonstrating private equity and venture capital’s investment nationwide, the report includes stories from across the UK and from a wide range of sectors and business sizes.

Every company featured in the report adapted to the crisis on multiple fronts and were focused on more than just the obvious priorities of the business. The report focuses on examples in the following key areas:

  • Community initiatives – where firms went above and beyond to support their communities, particularly in areas hard hit by the challenges brought on by the pandemic.
  • Team support – where firms found innovative and meaningful ways to look after their employees as they adapted to new and unusual ways of working.
  • Adapting business models – where firms were quick off the mark to ensure their expertise was used in a way that supported COVID-19 efforts, important supply chains remained uninterrupted and challenges around provision of service were overcome.

Incremental, along with its investor Dunedin, received recognition in the key area of ‘adapting business models’ due to its work with the public sector throughout 2020.

In response to the urgent need for digital services in 2020, Incremental quickly ensured its services were listed as part of the new Crown Commercial Service (CCS) COVID-19 Framework. Through the framework, Incremental was able to provide public and third sectors with a rapid route to purchase products and services to maintain public services during the COVID-19 pandemic. One example highlighted in the report is Incremental working with the NHS Nightingale Hospital Bristol to rapidly deploy a Microsoft Teams environment for all workers on the new site.

Overall, BVCA’s report showcases the many examples of organisation’s sharing knowledge and learnings to support businesses in making key decisions in response to the pandemic. Congratulations to all the organisations that featured!

To read more, or to discover the other case studies that received recognition, access the full ‘Adapting with Purpose’ report via BVCA’s website.