Revolutionary Measures

Finding the next generation of startups

Cambridge has got a worldwide reputation for the excellence of its tech cluster. The likes of ARM, Autonomy and CSR are global leaders and a plethora of other innovative tech businesses like Transversal, Adder, RealVNC and Red Gate Software have successfully developed within the city.

But the tech market doesn’t stand still, meaning there’s a constant need for new startups to replenish the pipeline and potentially become the ARMs of the future. And creating a startup can look like a daunting prospect. You may have an idea, but where do you go from there? Tapping into the right skills and receiving help and encouragement is almost as critical as attracting funding when at a very early stage.

Help is at hand, through the first Cambridge Startup Weekend, which will be held between 11-13 March 2011. It adds to existing initiatives such as Cambridge Pitch and Mix to provide a focused event where people with ideas and skills can meet. Organised by volunteers, I’m very happy to be personally involved, both in publicising it and providing PR advice to the startup teams over the weekend.

An intensive 54 hour event, it focuses on building a web or mobile application which could form the basis of a credible business. At the end of the process, a high level judging panel, chaired by Neil Davidson, co-founder of Red Gate Software, will choose a winning project.

Based on a formula pioneered on the US West Coast, it is the first time a UK version of the event has been held outside London. And in another first, a proportion of the proceeds from the event will remain in Cambridge to be used as a legacy to support startups.

It promises to be an exhilarating (and exhausting) event and a great way of unleashing the next generation of great Cambridge ideas. Find out more at cambridge.startupweekend.org or follow the event on Twitter @swcambridge. Special offer tickets are available now, with prices at £50 when you enter discount code PRCAM.

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February 16, 2011 Posted by | Uncategorized | , , , , , , , , | 1 Comment

UK needs to unblock the IPO bottleneck

Autonomy Corporation
Image via Wikipedia

There’s good and bad news from the latest Deloitte UK technology Mergers & Acquisitions survey.

On the plus side respondents believe the market is looking up, with increased optimism and higher prices paid for tech businesses.

But on the downside confidence in going public in 2011 has crashed – with only 16 per cent seeing increased investor appetite for tech IPOs. And more worryingly given the government’s plans to use the tech sector to kick start the economy, the acquisition market is still being driven by overseas companies. 90 per cent of those surveyed believe that the US will remain the dominant buyer of UK tech businesses.

Why should this start ringing alarm bells? Not through any desire for protectionism of UK companies – tech is one of the most truly global markets and nowhere is that more obvious than in M&A. The issue is that the stall in IPOs combined with the acquisition of breakthrough UK tech businesses risks reducing the number of UK leaders we need to encourage other companies and sectors. Large, quoted companies create their own ecosystem, building up a network of suppliers, spin-outs and related businesses that mutually interconnect. For example, look at the cluster of neural network/data mining companies around Cambridge. Headed by Autonomy, companies as diverse as Linguamatics, Transversal and True Knowledge all use broadly similar technology to solve completely different sets of business problems. They benefit from access to staff and suppliers that understand the market – take out the kingpin and it gets more fragmented, and consequently companies and people drift away.

So we need a way of encouraging IPOs that attract investors for the medium to long-term – perhaps that would be a better use for government cash than propping up the banks or the Irish economy?

 

 

 

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December 7, 2010 Posted by | Uncategorized | , , , , , , , , , , | Leave a comment