18 roundtable: technology in the thames valley


Under the umbrella of the Southern Tech 100, The Business Magazine and sponsors Barclays, James Cowper, Pitmans and GCS staged a Roundtable debate at The Vineyard, Newbury, to discuss tech in the Thames Valley, and whether the region was keeping ahead of competition from other locations in the UK and further afield


Is the Thames Valley still the UK's Silicon Valley?


Participants


Louize Clarke: Co-founder, ConnectTVT


Richard Devall: Partner, Pitmans, law firm


Sean Duffy: Head of TMT (telecoms, media & technology), Barclays


Lisa Forrester: Head of sales - Reading, GCS Recruitment


James Pitt: Manager, James Cowper, business advisers


Joe Solari: Chairman, Ultima, IT business solutions


Chris Sykes: Managing director, Volume, global digital marcoms


David Murray: Managing editor and publisher of The Business Magazine, chaired the discussion


Lined up to debate: our roundtable team Journalist John Burbedge reports the roundtable highlights


Based on his banking experience in helping to finance TMT companies, Sean Duffy said he was very bullish and optimistic about the technology sector. He also felt there were three key challenges that set tech companies apart from businesses in other sectors:


• Change “The metabolic rate of change for a tech company is always a magnitude higher than for a normal company.”


Constant change was reflected in markets, products and personnel. “The ‘war for talent’ is a hackneyed phrase but it remains true. Retaining great people is a tremendous challenge in this sector.


• Global scope “Almost by definition, as soon as you set up as a tech company, you are a global company. You will be overseas before you know it, perhaps before you are ready, because you will have global demand at your door asking what you can provide.”


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• Need for Growth “Very few tech companies go sideways, retain their status quo, or are lifestyle businesses. You are either growing or you will quickly go the other way.”


Duffy added that many companies needed professional help in answering the difficult growth questions: Where do we start first? What funding will we require? Should we alter our business model? Will the same staffing be suitable? Should there be senior management changes?


Chicken or egg? Technology or customers?


Duffy highlighted the difference between London and regionally-based technology companies. “London tends to be exploiting technology rather than developing it. You will find deeper science-based technologies


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outside in the regions rather than in London.


“Generally, London companies will talk about customers and sales first and the technology will come second. Regional companies are more the other way around. Actually, I believe both types of companies can learn something from each other.”


He believed this difference in focus was because regional tech companies were closer to the technology origination and IP developers, such as university-linked spinouts.


The Thames Valley was certainly not lacking in support for technology, Duffy pointed out. Barclays’ second largest grouping of technology-specific bankers, outside of London, was based in Slough. “For me, London and the Thames Valley still dominate technology in the UK and still represent a big business opportunity.”


Chris Sykes, who started Volume in 1997 and now employs 143 staff, said his company had actually grown by exploiting the opportunities created by the industry’s rapid development with its focus on technological advancement rather than customer requirements. “We help those people whose technology is not delivering what it says on the tin. We either complement, support, plug a gap, or in extreme cases rebuild things from scratch.”


THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2014


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