Evaluation of the Enterprise Fellowships programme

Royal Academy of Engineering

Metro Dynamics was commissioned by the Royal Academy of Engineering to conduct an economic evaluation of the Enterprise Fellowships programme which supports start up and spin out founders through equity funding, training and mentoring. The evaluation sought to understand programme impact and contribution to national prosperity, competitiveness and value for money.

We used a theory-based approach, undertaking over 40 in-depth interviews with stakeholders, alumni and unsuccessful applicants to robustly test programme logic to draw out what impacts are being generated, for who and why. Findings were triangulated by an online beneficiary survey, quantitative analysis of performance data and a value for money assessment, using published results from quasi-experimental studies of business support programmes to estimate lower bound impacts. 

A rapid market review helped shape solidify a shared understanding of programme USP, the narrative from which has been used by the Royal Academy of Engineering to support the marketing of the Enterprise Fellowships and articulate its value to funders.

Evaluation findings confirmed the success of the Enterprise Fellowship programme in accelerating the translation of engineering innovations and supporting market leading enterprises that deliver substantial social economic benefit. Recommendations therefore centred on strategic opportunities and supporting the Royal Academy of Engineering to fully maximise the potential of the Academy’s assets and network.