Introduction:
As an economics major, I’m acutely aware of the important role that small-and-medium-sized businesses and start-ups play in maintaining a prosperous and equitable society. I was therefore very excited to begin my six week journey with Allia, as part of a Leadership-in-Action project, was a transformative experience that allowed me to explore the venture support industry in a dynamic and impactful way. In this blog post, I will take you through the objectives, outcomes, stakeholders, my personal growth, the impact of my project, and the lessons I learned from working in a challenging environment.
Project Overview:
I worked at Allia Impact, a division of the non-profit organization Allia, known for its business centers and accelerator programs that support businesses across the UK. The firm runs three main types of programs – Grow Your Business, Start Your Business, and Impact Accelerator, and my mission was to research and compile a report aimed at enhancing Allia's community engagement and founder mental health initiatives across these three programs and other services that the firm provides. Additionally, I provided support in data visualization, presentation preparation, and organizing the Female Founders Impact Accelerator pitch event.
Objectives and Outcomes:
The primary objectives of my project were to improve Allia's community engagement and founder mental health initiatives by providing actionable policy recommendations. The desired outcomes were twofold:
- Policy Recommendations: I successfully researched, analyzed, and compiled a comprehensive report containing four key policy recommendations. These recommendations included re-prioritization of mental health, expanding mentorship schemes, the potential to increase engagement through monetization, and improving efforts to service under-represented entrepreneurs.
- Event Support: I contributed to the organization of the first ever Female Founders Impact Accelerator pitch event, ensuring it ran smoothly and provided a platform for entrepreneurs to showcase their ideas.
Stakeholders:
Throughout my Leadership-in-Action project, I interacted with various stakeholders who played a pivotal role in shaping my experience:
- Allia Impact Team: Collaborating with the passionate and dedicated Allia Impact team allowed me to understand the importance of teamwork and a shared vision in achieving collective success.
- Program Participants: Interacting with the aspiring entrepreneurs in the Impact Accelerator program was inspiring. Their determination and creativity served as a reminder that leadership can emerge from diverse backgrounds. These individuals were randomly surveyed and their input was used in formulating the final report
- Mentors and Investors: Engaging with experienced mentors and investors underscored the significance of mentorship in leadership development. Their guidance was invaluable in my journey.
My Personal Growth:
My Leadership-in-Action project provided me with opportunities for personal and professional growth:
- Technical Knowledge: I gained a deeper understanding of the venture support space and how accelerator programs functioned. This was gained by joining and contributing to meetings held for two of Allia's Impact Accelerator cohorts, and the concluding pitch event for one of them. As I entered this LiA with zero prior knowledge of accelerators (apart from watching Silicon Valley!), this was an invaluable experience.
- Interpersonal Skills: Networking and conflict resolution skills were areas I aimed to develop, and my experiences allowed me to improve in these areas. I was able to develop my professional network in the UK (especially important to me as an international student) and improved my skills at engaging in conversations with new people.
- Digital Skills: I honed my report writing, research and analysis, and presentation skills, strengthening my digital skill set. While I already had prior knowledge in these areas (through my past internships), it was nonetheless useful practice and was a good refresher in these skills.
Impact and Sustainability:
The impact of my project was multifaceted. The policy recommendations I crafted are currently under consideration for implementation, which could enhance Allia's community engagement and founder mental health initiatives. I had to be cognizant of the limited resources that the Allia Impact team had, and therefore used their input to identify areas with a high return on investment for the recommendations.
Sustainability is a vital aspect of any new business initiative. I collaborated with the Allia Impact team to create a roadmap for the implementation of our recommendations. Regular assessments and check-ins will ensure the long-lasting impact of our work.
The team were appreciative of the recommendations I had made, and intended to implement some of the less resource intensive recommendations (such as signing a mental health pledge, instituting regular mental health check-ins, etc) at the time that I left. I am hoping to reach out to them soon to see how progress has been going on these, and longer term recommendations (such as increasing the scope of Allia Impact's mentorship schemes, designing new mental health modules for the Impact Accelerator, sourcing a recommended therapist, etc).
Challenges and Lessons Learned:
Working in a new and challenging environment was not without its difficulties. Networking was an area where I identified room for improvement. Initiating conversations with strangers proved to be a hurdle, but this experience taught me the importance of pushing beyond my comfort zone to develop this crucial skill.
I also came away from the project with an increased sense of respect for individuals working in the non-profit sector – many of whom are talented and qualified enough to seek professions with higher financial return – yet choose to forgo this in order to make a lasting social impact.
Conclusion:
My Leadership-in-Action journey with Allia Impact was a transformational experience that allowed me to contribute meaningfully to an important cause while developing my leadership skills and knowledge. The impact of my project and the sustainability measures in place ensure that our efforts will endure. Working in a challenging environment taught me valuable lessons that will guide my future leadership endeavors. As I reflect on this journey, I am reminded that leadership is about making a positive difference and continually evolving to meet new challenges. My journey has just begun, and I am eager to apply the skills and insights I've gained to create a lasting impact in the world of entrepreneurship and innovation.