Tag Archives: Startups

Events, News

Innovative UK tech startups from University of Southampton to be unveiled at CES 2021

Innovative technology developed at the University of Southampton is being launched on the world stage from 11th-14th January at CES 2021, as the world’s largest and most influential technology exhibition goes virtual.

Tech entrepreneurs leading eight startups will exhibit at the all-digital expo, showcasing pioneering advances from a range of sectors including Artificial Intelligence, Fitness and Wearables, Quantum Computing, Sports Technology, and Sustainability.

CES usually takes place in Las Vegas and attracts over 170,000 visitors who flock to see the newest technology being showcased by the 4,000+ tech firms in attendance. 2021 sees the event go all-digital, taking the global reach of CES wider than ever before.

Future Worlds, the on-campus startup accelerator at the University of Southampton, will return to CES for a sixth consecutive year as the UK’s only exhibiting university. Eight startups from the University will be interacting with potential customers, investors and tech leaders across the world during the four-day show.

Current University of Southampton startups being exhibited by Future Worlds at CES 2021 are:
• Absolar: AI-powered software that simulates solar radiation to inform renewable energy decisions
• Aquark Technologies: revolutionary miniaturised cold atom chip for quantum hardware
• ArchAI: an AI tool for construction planners to automate archaeology assessments
• Inpulse: smart clothing to correct muscle imbalances and improve sports performance
• Sentient Sports: AI that assists football managers by predicting how players will perform

They will be joined by three University of Southampton startups previously supported by Future Worlds:

• Aura Vision: revolutionary in-store analytics for offline retailers using existing security cameras, now enabling ‘COVID-secure’ retail
• BOON: creators of privacy-first personalised experiences for online retailers
• Emitwise: machine-learning software to help speed up the carbon accounting and reporting process for environmentally-conscious companies

Ben Clark, Future Worlds Director, says: “We are very excited as Southampton steps up as the only university representing the UK at CES for a sixth consecutive year. The startups we have selected to exhibit are inspirational future leaders in their field, destined to make a huge change in the world of AI and quantum. More startups than ever before are exhibiting with Future Worlds at this year’s CES, reflecting the immeasurable vision, talent and determination to push through the pandemic to help create a more sustainable, connected and healthy world to come.”

One of the startups exhibiting with Future Worlds is archaeologist turned computer scientist, Iris Kramer, who will present her startup, ArchAI. The AI solution is automating archaeological assessments to accelerate and de-risk lengthy and expensive planning processes for developers, while saving historical sites from unnecessary destruction.

Iris says: “By using our technology over conventional techniques, developers could save tens of thousands in costs, as well as months of time that would be spent surveying land pre-development. Going forward there are wide ranging environmental challenges globally that our world-first technology can address.”

Another exhibitor is neuroscientist, Devon Lewis. Influenced by the population’s need to be more active, he created Inpulse, which produces smart clothing that monitors and enhances muscle control, resulting in considerably improved sports performance and injury recovery.

“The way our nervous system coordinates movements of the body is incredibly complex, and problems can arise at any stage, leading to a huge range of movement disorders,” Devon explains. “Conventional approaches usually seek to identify and improve specific biological issues, but we can use electrical stimulation to bypass these issues and treat everything from minor tremors to complete paralysis without drugs or invasive surgery.”

For more than 50 years, CES has been the global stage for innovation, showcasing the very best products in consumer technology, hardware, content, technology delivery systems and more. It will be taking place 11th – 14th January.

News, Team Building & Motivation

Top Tips for Startups that are Building a Team

Nargis Jafferali from https://www.byblazon.com/ shares team building tips

When you’re launching a startup, it doesn’t matter whether it’s your very first venture, or your fiftieth…it’s hard work and a challenging process. Fact. Most founders start that journey either completely alone or alongside a trusted co-founder, however it’s a long way to go until you have a team to support your business.

So, what are some of the most important considerations to make when you’re thinking about your team and how to build it up? We break down some of our top tips to think about:

Hard in the initial stages

The vast majority of founders will embark on launching their startup business completely solo from the beginning. It’s an early idea, a mere concept at this stage, and you may not even have done your market research to test out whether it’s commercially viable at all. So, it’s unadvisable nor is it realistic to have team members at this stage.

Sure, it doesn’t make the early stages any easier for you, with the pressure of establishing a business framework resting entirely on your shoulders, and an early founder having to take on each and every role of the business themselves. No easy feat. But then startup land is not for the faint-hearted either, is it?!

Be prepared to put in those long hours, to make those tough decisions alone, to wear more hats than you ever thought could possibly fit on your head. The early solo journey is hard and rocky, but it’s massively crucial too. These early learnings about your market space, your customers’ feedback and your own self will set the precedent for your business to come, and it’s the rite of passage that needs to be done. No question.

Timing is everything

So, when you have the confidence that your startup has legs – perhaps you’ve already got your first paying customers, or enough valuable user feedback to determine the need for your business – then you need to consider when is the right time to make that all-important first hire for your new team. And this decision is one that stumps many a founder.

If you hire your first ‘employee’ (the terms of their contract with you are irrelevant, as the considerations remain similar whether you’re dealing with interns, freelancers, part-timers, full-timers etc) too early on, there could be unnecessary pressures placed on your delicate finances. If you’re yet to sign up a paying customer, or only have a handful, then chances are you’re still bootstrapping the business anyway – paying a wage too early on adds more risk to your circumstances.

There’s also the pressure of unrealistic workload expectations for your new hire. You’ve hired them and said they’ll be managing X, Y and Z, but perhaps your predicted clients don’t sign up, or you lose customers – then what does your new team member do? Without the security of an established business at this stage, it’s tough to predict too far ahead, and that places an element of risk upon your new hire.

On the other hand, founders should not leave it too late before bringing in someone to help them. If you’ve been managing so many things for a long time yourself, chances are you’re already stretched quite thin, and under significant pressure. The risk attached with letting standards slip don’t seem worth it – what’s the point of risking losing all your hard work, by simply not realising you’re drowning in pressure and need help?

Timing is crucial when building a new team, and it’s important to weigh up the pros and cons carefully to make the best decision for your individual startup.

Long term vision

Having temporary help for your business may be great support in the short-term, particularly when you’re still trying to establish yourself and finding your feet, but a really successful startup will benefit from having people on board that are ready to grow with you.

Finding individuals with the right skillset and experience is essential of course but finding people that share your vision and prepared to embark on a journey with you, are worth their weight in gold. These types of characters become so much more than ‘hired help’, they’ll be adding some serious extra value to your processes, perhaps offering important feedback, creative suggestions and supportive encouragement.

Team members that are looking to grow with your startup can often be far more productive too. Being hired for a job at your company that enables more accountability and getting more involved in the decisions can add tons to the overall appeal and job satisfaction – all great for general employee satisfaction.

Onboarding Process

So, when you’re finally ready to make that next hire, how do you go about it and what things should you keep in mind? Recruitment should be an honest, transparent process, bearing in mind to always be realistic about the job role and the situation of the company with the candidate where appropriate. Whilst it’s good to be flexible and accommodating as an employer, it’s also important to stay true to the objectives of your startups too – whether it’s wages, hours, responsibilities or something else that comes up during the hiring process, a founder must be vigilant not to deviate too far away from what they’re able to offer. Desperation is a killer, but stay true to your goals, and the right person will come your way, eventually.

In the early stages, a founder will have done everything themselves, so naturally the handover process will be a tough step to undertake. Think about making that process as simple as possible, perhaps thinking about organising processes and systems in a clear format that’s easy for someone else to understand and pick up quickly. Over time, the handover process will become more routine and far easier, but the majority of founders find those first stages challenging and often frustrating. So, hang in there, you’re not alone, and remember, your new hire is supposed to be there to make your life easier!

The number one piece of advice to all founders has to be about learning from mistakes. Not every startup is the same, not every founder is the same and not every journey is the same. And throw in a bunch of circumstances and roadblocks that are beyond your control – and it’s one hot mess! But, if you’re able to remain fluid in your approach, constantly adapting yourself, constantly challenging the status quo, and always trying to improve the process, then you’ve a greater chance of success.

Building a team is a necessary and thoroughly exciting part of building your startup – do it right, and at the right time, and you’re laughing!

Business Investment, News

Launch of game-changer platform to connect start-ups and investors across the entire UK market

Envestors has launched its new integrated platform that connects the world of early-stage investments – making it easier for investors to find opportunities and for entrepreneurs to get the funding they need to grow and exit. With its ‘deal sharing’ capability it aims to be a game-changer in the industry.

Traditionally the investment industry has been slow to adopt digital. This has left it fractured and disconnected, which has constrained the industry by making it harder for everyone: for investors to build diverse portfolios; for start-ups to find investors; and for the networks who facilitate the process to get the best opportunities for their members.

The digital platform, Envestry™, will connect existing players. Its aim is not to replace the existing players, but rather to connect everyone – from accelerators to angel networks to matchmaking events – making investment easier and quicker.

The most exciting feature, the ‘game changer’, is deal sharing. Closed networks can have their own platform that they control. They can then opt to share certain deals, and not others, with other networks. For example, a clean tech network in Manchester may decide to showcase a green deal from a female founder network in Bristol. This way early stage companies reach a wider pool of investors, and investors have a greater choice of deals.

The platform is now available to any organisation involved in matching high growth companies with investors, mentors and advisors. These include accelerators, incubators, angel networks, start-up events companies, workplace providers, membership bodies and associations.

The need for the platform was identified by Envestors own experience of managing its private investment club. The company wanted a way to make it easier for investors to learn more about the deals, so Envestors launched their own platform. Quickly other networks expressed interest in accessing it.

“We saw that while the platform was solving a problem we had internally, there was a much bigger problem to solve – the fragmented state of the early stage investment market. This leads to issues with start-ups getting in front of investors, and means it’s challenging for investors to build a diverse portfolio. So, we set ourselves a new mission to connect up the investment space using the platform.” explains Oliver Woolley, CEO of Envestors.

“What sets Envestors apart from other platforms, is our history. We know how to run an investment club. As the saying goes; we eat our own dogfood! We’re still running the club, so when we work with other networks, whether they are long-running or emerging, they are not just getting tech, they are getting years of experience and support.”

The new integrated Envestry platform allows investors: access to increased deal flow by allowing them to see all the deals in the country across multiple networks; to follow deals and receive automatic updates; interaction with founders online through Q&A, as well as seeing other investor questions; online access to documents, videos, pitch decks, business plans, sales forecasts; ability to pledge, transact, manage and track progress online; to upload existing investments; receive shareholder updates through the platform; rest assured that deals are clear, fair and not misleading, knowing that all opportunities on the platform are signed off for FCA compliance.

For companies looking for investment, Envestry allows them to: create a company and deal profile with ability to edit; track investor interest using analytics; engage with investors through updates and Q&A tools; track pledges and progress; transact online; manage investor relations online (this is important because companies often do multiple raises and, in most cases, return to previous investors). In addition, Envestors offers expert services to help companies get ‘investment ready’.

For investment networks Envestry enables them: to have their own branded platform with complete control; offer share deals on a platform or deal-by-deal basis; maintain a database of investor interests to facilitate matching; empower their investors to build their portfolio by making it easy to find opportunities and conduct due diligence online; increase the chances that your companies will raise capital by making it easy for investors to learn more about them; comply with regulation; and reduce manual processes (for example, paper-based investor application forms, deal summary handouts etc.)

The platform, prior to launch, has been Beta-testing with early customers including:

  • SetSquared – the number one global incubator, a collaboration between the Universities of Bath, Bristol, Exeter, Southampton and Surrey
  • CQRS – works with unlisted business to prepare and pitch for investment
  • Conviction investment partners – a syndicate of global investors that offers milestone-based investing
  • Plerith – a Bristol-based investment network
  • Prospedia – UK’s first private equity seed-funding platform focused exclusively on co-investing into early-stage future mobility technology
  • The Business Group – Sussex-based network
  • OBN Ventures – life sciences membership organisation
  • Kickstart Capital – focuses on S/EIS opportunities
  • Stakeholderz – matches high growth businesses with investing directors

After a successful pilot stage and testing, the Envestry platform is launching this week and is now available for start-ups, investors, and networks. This the start of a drive to connect the entire investment industry across the UK by creating a single place to go to in order to find investment or to find investment opportunities.

To learn more, visit https://www.envestors.co.uk/

Business Investment, News

Envestors raises £2m to create digital marketplace for UK start-ups and investors

Envestors has announced it has secured £2m in funding to grow its digital marketplace for start-up investment. The marketplace, powered by Envestors’ white-label investment platform Envestry, facilitates the investment process for all parties, making it easier for start-ups to raise investment and for investors to build diverse portfolios.

Partnering with networks, accelerators and incubators, Envestors provides a branded site where they can engage investors, promote deals and uniquely connect to other networks.

The Envestry platform already has a number of customers including: SetSquared, the number one global incubator, a collaboration between the Universities of Bath, Bristol, Exeter, Southampton and Surrey; Bristol-based network Plerith; soon-to-launch OBN Ventures, the life sciences membership organisation; and Prospedia Capital which focuses on advanced automotive technologies.

This new investment will be used to:

• Grow the network of partners using Envestry, including accelerators, incubators, universities, angel networks and larger enterprise clients.
• Enhance the platform, building on ‘smart matching’ functionality
• Develop Envestors’ investment readiness services, to help start-ups increase their chances of raising capital

Currently the investment space is fragmented, with lots of different organisations involved in matching start-ups with investment. They are all doing a great job, but they are disconnected, each having to reinvent its own wheel, and each serving a niche based on region, sector, stage or affiliation (e.g. universities, membership bodies, events companies).

This means start-ups have to do a lot of leg work to get in front of investors and investors themselves typically have to join half a dozen networks to get access to enough investment opportunities to build their portfolio.

There is no one place to go to find investment or to find investment opportunities – and there needs to be. With a single, central place, we can help start-ups thrive and investors get access to the best deals.

The industry has also been slow to adopt digital, with many feeling that face-to-face meetings and pitching events are the best way forward. But behaviours have shifted in the last ten years to the point where that argument doesn’t hold water. All purchasing decisions, whether you’re buying a pair of jeans, a new car or building your investment portfolio, start online with browsing and initial research.

Envestors aims to solve these challenges by creating the single marketplace for start-up investment in the UK.

By using its proven software platform, Envestry, to connect the industry, Envestors will empower all the organisations involved in arranging investment, as well as the entrepreneurs and investors themselves.

Our approach is unique in that we aim to connect up existing players, who play a fundamental role in matching start-ups and investors, rather than trying to replace them.

The Envestry digital platform facilitates investment through: investor self-certification; deal browsing/searching/tracking (think following); due diligence online; portfolio management from a single place; deal promotion; analytics to see how many investors are engaging with your deal; and providing FCA cover.

In-built FCA compliance is a core feature to the platform. Many players in this space are unaware that arranging deals is a regulated activity and that they are breaking the law every time they hold a pitch event.

However, the most exciting feature – the game changer – is deal sharing. Closed networks can have their own platform that they control. They can then opt to share certain deals, and not others, with other networks. For example, a clean tech network in Scotland may decide to showcase a green deal from a female founder network in Bristol. This way early stage companies reach a wider pool of investors, and investors have a greater choice of deals.

“SidebySide’s ethos, as our name implies, is to invest in companies and provide strategic input to help them grow. This is a new fund and Envestors is one of our first investments. We’ve known Envestors for a number of years and are equally as passionate about creating a single marketplace for early stage companies and investors. It’s precisely what the industry needs. Envestors has already proven itself on a small scale. I look forward to seeing them do much more on a much bigger scale,” says John Bailye, Managing Director, the SidebySide Partnership

“Without platforms such as Envestors we would not have been able to the raise the £15m required to expand our business. The 51 private investors who invested under the EIS through Envestors shared a profit of £48m when we sold the company to BP – proof the model works,” says David Martell, Founder of Chargemaster.

Roderick Beer, Managing Director of the UK Business Angel Association (UKBAA) said, “connecting the angel ecosystem is one of our primary goals as an organisation and we’re fully supportive of Envestors, who are a long-standing member, in bringing together regional and sector specific angel communities.”

 

Healthcare News, Start Ups, Technology

Care Home Supplier Florence Joins UK’s Fastest-growing Start-ups

Care home staffing marketplace Florence has been chosen for a major UK programme for startups.

Florence is one of 30 companies selected by government body Tech Nation’s Upscale 5.0 programme, which supports fast-growing tech companies.

Florence allows care homes to post vacant shifts, engage and pay staff in one online space, reducing admin and cutting out agency costs. Florence’s algorithm matches the best care staff to shifts, and an in-platform rating system encourages staff accountability and high performance.

It aims to become the go-to space for filling healthcare shift vacancies in the UK.

The marketplace was developed by Dr. Charles Armitage, who discovered the need for a better way to fill healthcare shifts while working as a locum in the NHS.

Charles started Florence in 2017, starting with just one care home in west London. Today, Florence serves over 600 care homes across the UK, with over 50,000 nurses and carers signed up to the platform.

Charles said

“We’re incredibly excited to be part of Upscale 5.0 this year. The programme has some great alumni and we’re excited to join the cohort of the UK’s most promising tech scale ups.

‘It will be great to spend time working with and learning from other leadership teams and scale coaches. We think Upscale will be an important stepping stone on our mission to be the market leading staffing platform for care.”

UK startup successes such as digital bank Monzo, energy company Bulb and tech firm Improbable have been through the programme in previous years.

Tech Nation said the 30 new companies represent “the next generation of digital household names”.

Mike Jackson, entrepreneur success director, Tech Nation, said:

“As we enter our fifth year, the Upscale programme has built an incredible network of alumni, including UK unicorns Monzo and Improbable.

“The network has a wealth of experience to share with the cohort, reflected in our judging panel and programme sessions.

“I’m excited to welcome this year’s companies on to the programme which helps to tackle key challenges founders face, wherever they are based in the UK.”