bournemouth digital hub
Silicon Beach, BoMo, The Digital Wave ...
... these are just some of the tags recently bestowed upon Bournemouth & Poole, confirmed in 2015 by Tech Nation as the UK’s fastest-growing digital economy. Iain McKenzie outlined the big picture to Matt Wright
McKenzie heads up Spectrum’s TMT (Technology, Media & Telecoms) sector and is based in the Bournemouth, Poole and Christchurch region (referred to as Bournemouth henceforth). Prior to Spectrum, he enjoyed a successful 30- year career in the technology sector, as both a corporate employee and an entrepreneur. He is passionate about the area, and its regeneration, having lived in Poole for the past 16 years.
“I’ve built, bought and sold 10 technology businesses during my career, so I have personally experienced the challenges a tech entrepreneur faces, and can relate to the ‘pain’ of building a successful technology business.”
“The region now has a vibrant economy as students from local universities elect to remain in the area after finishing their studies, attracted by the affordability and coastal lifestyle. This influx of educated and technology-aware individuals breeds a confidence and dynamism which is made possible by a borderless digital economy; one in which you can access anybody (and they can access you), irrespective of location.
The National Centre for Computing Animation is based here, as are centres of excellence for VX and app design, and of course, the very highly-regarded university courses. Furthermore, the councils have been very supportive of building and investing in a digital identity, as evidenced by Silicon South, a unique public and private sector collaboration with a vision of making the region an international digital hub.
“As the region grows and becomes more successful, it will require continued joined-up thinking and co-operation between the public and private sector.”
Transport infrastructure remains an issue. Ironically, as a digital hub matures it requires more connectivity with the outside world, not less, and Bournemouth’s coastal location is not ideal on this point. Of the two local airports (Bournemouth and Southampton) neither is especially well-geared for business, there is no high-speed train service, and the motorway stops somewhere short of the New Forest, meaning it takes at least two hours to drive to London ... on a good day.
“As it expands, Bournemouth will have to compete with other hubs outside of London (eg Reading with Crossrail, the Northern cities with HS2 ... potentially), who have better transport links to attract investors and to connect with ancillary services.”
Because Bournemouth has grown so quickly, there is a gap compared to other hubs in terms of professional advisers and the more structured Venture Capital (VC) funding capabilities, which are important later on in a company’s lifecycle.
There are plenty of business angels in the region who can provide help with start-ups, but the lifecycle for successful digital businesses has become so accelerated, that professional advisers and VC funding are often required within three to five years.
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businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – SEPTEMBER 2016
‘I put everything on the line to start my own business, so I completely understand the emotions involved’ Iain McKenzie
This is where Spectrum will become involved, and where its experience in helping businesses to shape their own future is so crucial, be it in terms of expansion (domestic and international) or in terms of an exit strategy.
‘My strength is that I can bring a degree of empathy to the table. I’ve been through it myself, having originally left a job as a financial controller to become a technology entrepreneur.
“I put everything on the line to start my own business, so I completely understand the emotions involved.
“Hence, I’m always happy to have a conversation at the outset – it’s vital to plan well and learn fast, early on in your business. Plus, further down the line, when you need a professional adviser, you will hopefully think of myself and the wider Spectrum team.”
0118 9502269
info@spectrumcf.co.uk spectrumcf.co.uk
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