A balanced and diverse Board helps EM3 make strategic decisions which fully represent the people of its region

Linda Cheung, Co-founder of CubeSocial and Intrapreneur Nation, believes it took her six years before the ‘Damascene moment’ which enabled her to fully understand the value of her local LEP. Now an Enterprise M3 Board Director, she passionately ‘spreads the word’ about EM3’s value as part of a push to help LEPs recruit more balanced and diverse boards, ensuring their strategic decisions fully represent the people of their regions. 

After making COO at Morgan Stanley at 32, I surprised my colleagues by re-locating to Basingstoke where I co-founded Connectegrity, the team behind social media startup CubeSocial, later recognised as a ‘Top 20 idea’ by The Guardian.

Former colleagues questioned my sanity in leaving  the City, but it just made good business sense –Basingstoke was cost-effective, in the heart of the UK’s Silicon Valley with fantastic transport links, and I could recruit highly skilled staff. In fact, I praised the location so much, several business contacts told me jokingly that I should join the LEP as an ‘ambassador’ for the region. 

With the intensity of launching and growing a business, I didn’t take up their hint. While paths did cross with Enterprise M3, especially in their work supporting innovative and entrepreneurial businesses, it took six years before the penny dropped.

I was attending a meeting with the chief executive Kathy Slack and assistant director Rachel Barker and was impressed by their understanding of the challenges faced by start-ups and scaleups. They were passionate about how to add value and impact to the region, and keen to incorporate new perspectives and approaches.

By this time, my startup life had come full circle, with me increasingly taking on advisory roles for innovative businesses. Kathy and Rachel’s passion spoke to my own desire to add value and impact to my local area and I realised that my skills in communications and entrepreneurship could enable me to make a contribution as an ambassador for the LEP and the region.

These days I advise C-suite executives of entrepreneurial ventures and corporates, deliver intrapreneur programmes into large corporates with Intrapreneur Nation, coach high-growth businesses at Oxford Innovation, and support the Enterprise M3 LEP Board with a focus on entrepreneurship, innovation and communications. In addition to the main Board, I chair Enterprise M3’s Enterprise Zone Programme Steering Group, for the Basing View, Longcross and Tech Forest sites, and am a member of the Funding Escalator Steering Group, which provides strategic guidance for £20m of loan and equity funds.     

Intrapreneurship and entrepreneurship underpin innovation for business survival and evolution. Innovation is critical for Enterprise M3 too and something that we are focused on as a region. We need to determine underlying problems and needs, then develop solutions. Brilliant solutions come from brilliant ideas, and brilliant ideas come from diversity.

Diversity has always been important to me. In my corporate career in banking, it was always at the forefront of people’s minds because diversity is good for business. When I made the jump into start-up, innovation was key… and diversity continued to be a priority.

McKinsey’s Delivering through Diversity research showed that the more diverse the team, the more significant the financial outperformance. Brilliant ideas, innovation and implementation come from diversity of thinking. The greater the mix around the table, the richer the perspective. You get better business decisions – more effective, more productive, more profitable - with diversity.   

As we approach International Women’s Day and there is greater focus on ensuring LEP board diversity, I wonder what can Enterprise M3 LEP and the Board do to encourage greater diversity and better representation of the area? 

We can be open about the challenges and publicly recognise them. We can be part of the dialogue.

We always need more ideas and different perspectives – including those of the young. Many of the decisions we make at strategic level will not come to fruition for 10 or 20 years, affecting the quality of life and work of a generation that should be part of the decision-making. 

I urge as many people as possible of different ages, backgrounds, experiences, skills, sectors, nationalities, cultures and more to come forward to join their LEP and help shape the future.  Diversity – it makes sense. Let’s make it happen.

Join us now in being #EachforEqual.