12 IN VIEW
PUTTING THE COUNTY ON THE TECH INVESTMENT MAP
An initiative is bringing investors and venture capitalists from around the UK together with Lancashire tech start-ups and scale-ups looking for investment.
Fraser House Hub, the co-working tech space in Lancaster funded by the county council, is seeing its FHundED programme attract the attention of growing numbers of potential investors, including major venture capital (VC) funds.
A recent FHundED session featured representatives from over a dozen VC funds including YFM Equity Partners, DSW Ventures, Mercia, and Solidbond.
The event was co-produced by Fraser House and Lancashire Digital Hub, and hosted in partnership with NatWest, KPMG, and Praetura Ventures. The programme is being led by Rory Southworth, who has just been named as a ‘key dealmaker in the north’ by the influential tech investment newsletter PreSeed.
He said: “FHundED was created to give Lancashire’s ambitious and growth-hungry tech founders a platform where they could meet VCs, angels, and institutional investors face to face to make their pitch.
“It also offers a space where businesses can enjoy invaluable networking opportunities, take part in practical investor readiness clinics and access other forms of business support, all under one roof.
“We’re not talking about small amounts of investment either. At the last FHundED event, I took note of how much was being asked for across the various investment-ready ventures we had in the room, and it came to over £25m.
“And while some might think that kind of figure sounds optimistic, when you bear in mind Fraser House Hub members have already raised nearly £37m in VC funding over recent years, you can see how much genuine investment potential Lancashire’s fast-growing tech scene has.”
Praetura Ventures, a major VC firm based in Manchester which invests in early-stage businesses across a range of high-value tech sectors, is a big supporter of FUhundED, and the investment culture which has been developed at Fraser House.
Ben Davies, its group marketing director, said: “To drive economic growth within the tech and digital sectors you need seek out those businesses who are building a product
‘CHANGE BEFORE YOU HAVE TO’
Jack Welch, the former CEO of General Electric, advised “Change before you have to.”
His words are very apt, given the plethora of changes we’ve all experienced this year.
Change is now a normal part of doing business, given how fast industries move, technologies advance and current events shift. However, change is rarely easy. The larger and more complex the business, the more challenging it is to implement change effectively.
Despite that, the ability to incorporate change plays a direct role in long-term success. It requires a strategic approach and that’s where change management comes into play.
Business is all about people. Therefore, change management helps you look at the impacts to people – how they’re going to react to the barriers adopting that change – and how they can be helped to adapt and move forward.
One of the most effective frameworks a business can use to initiate change is the
• Incentives – how will your people be encouraged or motivated to implement these changes? You need to think about what drives each person as this can differ. A lack of incentives can lead to resistance.
Chris Brown
“Managing Complex Change” model created by Dr Mary Lippitt, a leadership and management consultant.
The model considers these steps and why they are important:
• Vision – determine your clear goals and vision. Consider why this change is needed and clearly communicate this to your team. A lack of vision can lead to confusion.
• Skills – consider what skills are needed to execute the vision. Does your team already have the expertise or will they need training? A lack of skills can create anxiety.
• Resources – consider what resources are already available and whether they are sufficient. A lack of resources can leave people frustrated about their ability to implement changes.
• Action plan – how will you know when you have reached your goal? Without an action plan, you may waste effort. It’s also important to share progress with all stakeholders to keep everyone on board.
The “Managing Complex Change” model is an effective tool for managing any changes in your business as we head into 2024. There is nothing permanent except change, so we may as well embrace it and find the tools to help us succeed.
Chris Brown, managing director,
brownandco.uk
or service which is genuinely scalable and investable. To do that you need to meet the people who are behind the slide decks, elevator pitches and growth forecasts.
“The community which has been created at Fraser House is exactly the kind of environment we look for when we want to meet ambitious founders.
“What’s happening in Lancaster is incredibly exciting and the Fraser House Hub has largely spearheaded this. They act as a focal point for the ecosystem and an entry point for new investors.
“Our team are now regularly visiting Lancaster looking for opportunities, as we do with other dynamic northern cities, such as Manchester, Liverpool and Leeds.”
Michael Gibson, chief executive of EV charging tech business Fuuse, and a member of the Lancashire Innovation Board, said: “The fact that major VCs like Praetura, and tech investment tipsheets like PreSeed Now, are taking an interest in what we’re doing is further testament to Lancashire’s growing reputation as a tech investment hotspot.”
Lancaster and Morecambe Hotspot Page 60
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 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70
