technology – connectivity 17
Meeting the scale- up challenge
Scaling-up a business to the next stage of its life cycle can be a complex and demanding process, says Nicola McConville, a technology specialist and partner at Penningtons Manches LLP
Oxfordshire has long been recognised as an innovation hub. However, nurturing those companies which are a product of its excellence and ensuring they achieve long-term economic success, both in the local market and further afield, remains an ongoing challenge.
It is important for a business to have considered exactly how it intends to fund its technology, and why, as well as the obstacles it might face in doing so. Often companies find that they run into difficulties when they try to apply practices and procedures which worked on a smaller scale at a different level.
If a business intends to set up an
operation overseas to extend its market impact, attention needs to be given not only to structural and regulatory issues, such as local legal and financial regimes, but also to practical matters such as engaging employees or contractors in another country. The management controls needed to operate an overseas branch or subsidiary from the UK may be culturally very different. There are also recruitment, tax and immigration issues to tackle if some of the workforce is expected to spend an extended period of time overseas.
As the only law firm with offices in the technology golden triangle of Oxford, Cambridge and London, as well as in San Francisco,
Penningtons Manches is well placed to provide sector specific advice to technology companies which are looking to scale-up, drawing on both its track record and on-the-ground presence. This is particularly pertinent in the life sciences, clean tech, digital and IT sectors. In its role as legal counsel, Penningtons Manches also has the opportunity to effect introductions between companies and potential investors both in the UK and the US.
As part of a move aimed at making its tech capability more accessible, Penningtons Manches has joined forces with James Cowper Kreston to deliver a series of breakfast meetings called Tech Tuesdays. Hosted at Penningtons Manches’ office in Oxford Business Park, the goal is to bring together like- minded people in an informal but informative setting to discuss common issues and encourage collaboration.
At the launch event, James Klein, head of the firm’s San Francisco office, discussed market conditions in Silicon Valley, and with Sue Staunton from James Cowper Kreston, explored how companies in the Thames Valley can make the
transition across the Atlantic. Topics on the agenda at forthcoming briefings include an overview of the non-dilutive funding landscape and the achievements of the £320 million Oxford Science Innovation fund.
Details: Nicola McConville 0118-9822640
nicola.mcconville@
penningtons.co.uk penningtons.co.uk
THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2016
businessmag.co.uk
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