Excelerate

Origins

The founders of Excelerate were aligned in their ambitions and aspirations both personally and corporately. At the corporate, they wanted to make a difference to customers in clear tangible ways. They set out for the company be a market leader and to be regarded as a must have rather than a nice to have. They also wanted the company to be a big business and to be at least a UK market leader with the aim of moving into the international arena – Excelerate is currently looking at worldwide opportunities which could see it potentially becoming an international market leader - only time will tell.

Our main challenges when starting the business

David Savage, the founder of Excelerate Technology, understood that running out of cash was the key enemy and the enemy was largely repelled through just about any means possible, including putting everything on the line. However, this challenge was helped by the timely intervention of Finance Wales who are the company’s only external shareholder and who helped with Excelerate's move to its headquarters to St. Mellons, Cardiff. Most of the other challenges were always about timing and what seemed like obstacles being thrown in the way of progress either with suppliers, whose products never did what it said on the tin without intervention and further development from the company or from customers who never seemed to want to buy without a high degree of customisation or bespoke design and development.

Success Factor

For the founders, it has been patience, tenacity and belief that at some point the vision and hard work will pay off and never ever give up because once that happens, the business is dead. In addition, the company now recognises that it has an incredibly long, expensive and complex sales cycles so ensuring the company had enough cash to come out the other end was vital. Finally, the effort that the company had put into its 'pioneering concept proving' days started to pay off when much larger contracts started to be awarded. However, the key to getting over the financial evaluation hurdles was having customers who came to rely upon Excelerate’s solutions and services which no-one else could provide and therefore give customers the excuse to buy from the company.

The Future

These are interesting and challenging times for a company whose UK government customers account for more than 95 per cent of the business. Government cuts aside, Excelerate is only at the beginning of its UK growth cycle with arising opportunities and positive future prospects both within the UK and internationally.