11th GROWTH TECH - The Funding and Talent Landscape - Part 1

“While raising capital for a new start-up has never been easy, this coronavirus-affected year has added to the challenges facing entrepreneurs who have been forced to go online to build investor connections and pitch for funding” (FT Nov 2020) ....and, from Steve Jobs, “Go after the cream of the cream. A small team of A+ players can run circles around a giant team of B and C players”.

THE DEBATE Discussion will be driven from an IT perspective, led by four business leaders with diverse experience of grant, angel and VC investing as well as sourcing talent.

For UK tech start-ups, raising capital and making first hires are massive challenges even in normal times but, during a global pandemic and allied with Brexit, these issues have been magnified. Despite this, a record $15bn was invested into UK tech companies during 2020 of which $10.5bn was in London (Dealroom report for DCMS – 29 Dec 2020).

Anecdotally there are more skilled people available due to layoffs and, hence, less companies bidding for this talent which is a big plus for start-ups. However, most VCs have been playing it safe and directing most of their available funds towards portfolio businesses. Scaleup Group’s recent report indicates a success rate of just 15% for start-ups applying for Series A funding.

Ironically, COVID-19 has forced entrepreneurs to engage virtually with VCs, allowing them to pitch to far more potential backers than previously as they look to crack the funding puzzle.

Interestingly, a new start-up (Landscape) has just launched an anonymous VC review platform so that founders can score VCs across 12 criteria. Hence, their tactics/strategies are laid bare. Are the tables turning? “After funding, the biggest barrier to start-up growth is hiring – not having the right people, in the right roles, at the right time” (CoBloom Mar 2020).

Funding and talent are out there, so can start-up dreams become reality? Our fabulous speakers will share their views and insights followed by audience Q&A.

The Speakers:

Andrew Bloxam, Director Foresight

Group Andy joined Foresight’s Private Equity team in London in 2018. He leads the Foresight Williams Technology EIS and VCT funds, which focus on earlier-stage tech investments, a joint venture between Foresight and Williams F1 spinout, Williams Advanced Engineering.

Samantha Maxwell-Reed, Chair Expand Search

Samantha founded Expand Executive Search in 2007, creating a global talent firm in digital, tech and telecoms. After creating a world class platform for growth, in 2020 Samantha supported the MBO of the business to its three senior executives.

Dr Mark Leaning, CEO Directed Systems Ltd

Mark is a serial HealthTech entrepreneur who took a previous start-up to $100m valuation. Directed Systems has received funding from Innovate UK and HNWIs for its technology which now has FDA clearance as a software medical device in USA.

Nic Marks, Founder & CEO Friday Pulse

Nic is a statistician with a slightly unusual speciality - happiness. Over the last six years, Friday Pulse has worked with over 9,000 teams, across 1,000 organisations to measure and improve happiness at work. Nic also has the unusual distinction of a TedTalk with over two million views!

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Guests welcome!