33 startups from a range of different business sectors will be celebrating being accepted onto Tech City UK’s Upscale Programme this week.
The idea is to use some of London’s brightest minds and most successful entrepreneurs, such as Riccardo Zacconi of King.com, the makers of Candy Crush, Martha Lane Fox and Brent Hoberman (Lastminute.com), David Buttress (JustEat) and Lesley Eccles FanDuel), to help prepare these companies for the business of “scaling-up”.
It all originates from Sherry Coutu’s seminal paper of 2015, Scale-Up Britain, which suggests that “a boost of just one per cent to our scale-up population should drive an additional 238,000 jobs and £38 billion to GVA within 3 years.”
Pretty serious stuff, then. Tech City UK have run the rule over the startup ecosystem and picked the 33 companies they believe stand the best chance of making it as “scale-ups”.
Many different sectors are represented – entertainment, ecommerce, fintech (natch), IoT, HealthTech, and according to Tech City 42% of the companies are B2B, 39% address both consumer and business markets, average revenues per annum are just over £1m, and average number of employees is 31.
So who are they, I hear you ask – well for the full list follow the link above – you may very well recognise some of the names – after all, you don’t get on a programme like this without a spot of networking!
Some of our companies that jumped out at us as we scrolled through the list were pi-top, the build itself yourself laptop that takes its inspiration from Raspberry Pi, prop-tech mortgage aggregator Trussle, challenger bank Monzo , and Mixcloud, the audio streaming service that can “tune in” to any radio station in the world.
Jos Smart, the Upscale programme lead, says: “The companies joining Upscale today have already overcome significant hurdles and have brilliant futures ahead; We’re excited to work closely with the Founders and C-Suite of each company over the next six months.”
Other mentors helping out over the course of the programme include VC and co-founder of LoveFilm Saul Klein, MindCandy’s Michael Acton Smith, and Wendy Tan White, founder of MoonFruit.
Investors in the mix include Suranga Chadritillake of Balderton, Tom Hulme of the now defunct Google Ventures, and Dan Hynes, at Atomico.
Big names for a big project. On behalf of HHH, we wish you all the very best, and we’re sure readers will echo the sentiment. Doubtless hundreds more startups will be busting a gut to make it onto next year’s programme.