roundtable
probably could have got investment three to four years ago.”
Working with VitalSix, Doyle has since gained advice, coaching and connected with “people with business ‘scars’, entrepreneurs who have done it themselves,” in order to successfully productise his business.
Any funding help on the horizon?
Elliott said VitalSix was currently launching a new Seed Enterprise Investment Scheme (SEIS/EIS) fund, and Henley Business School and University of Reading alumni are creating an awareness network opening eyes to investment opportunities.
White suggested the Government could very easily assist early-stage funding. “Simply give a clear, non-complex tax break for people investing in this space.” Years ago, under the Business Expansion Scheme, his company undertook investment worth £2 billion “because the shackles were off”.
Adrian Braine of the SETSquared Partnership works with early-stage and university spinouts in southern England, mainly hi-tech high-growth businesses employing people locally.
Braine and White exampled SETsquared’s successful business incubator and innovation support at the University of Southampton Science Park (USSP), which also provides a Catalyst Centre offering six months of free office space and mentoring, plus a variety of informative and educational business events.
Successful USSP aspects would no doubt be incorporated in the Thames Valley Science Park opening later this year, said Elliott.
Such ‘business campuses’ also assisted funders and investors, said Caswell by enabling focused awareness and relationship links.
Building aware communities ripe for growth
Elliott: “From our experience (VitalSix) there is a community of small Thames Valley businesses out there who are under the radar.
“We need to bring our communities together instead of being siloed, to build relationships and nurture businesses, ensure investors have early sight, that the right people meet at the right time, and that businesses are investment-ready. There’s work to be done on that in the Thames Valley.”
Certain connections were obvious, said Elliott, exampling university student talent, the new Thames Valley Science Park in Reading, and the CF/investment community.
Lomer: “We will be killing off the new Googles and Facebooks by not paying attention to such connections in this area.”
Noting banks and PE houses tend to back successful management teams with sound growth plans and proven performance, Caswell suggested enhanced community connections with these ‘champions’ of their business sectors. This could create wider funder awareness and an investment spark for ambitious early stage companies.
Doyle praised the inspiring work of Louize Clarke of Connect TVT at the GROW@Green Park hub in creating an entrepreneurial ecosystem and setting up events to promote regional tech collaboration and innovation.
“There’s also scope for more meetings like this Business Magazine roundtable where startup founders can meet people who can reveal what it’s like to reach a £5m turnover.”
Elliott: “It’s all about that business community aspect, with everyone being aware. If investors have sight of a company and can track its performance, then investment might be more likely later down the line.”
Snodgrass agreed that the business and investment communities should work together more closely. “Having a thriving entrepreneurial community with the right support at the smaller end of the market would be fantastic for BGF.”
White: “Initiatives to link up people are always good to see.”
Can we resolve all this over a leisurely drink?
“I am very proud of this area but I think we could do more in the Thames Valley,” said Doyle. He recalled the informal but very warm welcome provided at Twitter HQ in Texas during a UKTI trip arranged to assist exporters. “We just don’t see that attitude around Reading and the Thames Valley.
“As The Business Magazine, you should stage more of these conversational business meetings so that people like me from the startup world discover the different ladders we can climb when we are ready, and can plan accordingly.
“Louize Clarke at GROW@Green Park is on to something there and needs more power to her elbow,” he added. “Create an informal social environment, then ideas and information will flow.
“I’ve learnt something this morning and I am hungry for more information, more informal evening events,” said Doyle. Griffiths and Lomer echoed his views.
Caswell: “Investors want that too. They want to know if there’s a good business behind that polished glossy presentation. Can they work with its people? And they can probably find that out over a beer or coffee and an honest chat with the team who are running it.”
THE BUSINESS MAGAZINE – THAMES VALLEY – APRIL 2017 Gamil Magal Simon White
Jocelyn Lomer
Pete Doyle
David Murray
businessmag.co.uk 55
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60
