I vehemently disagree with a lot of this article, but it’s so well written that I just had to share it. Murad Ahmed from the Financial Times neatly captures the changes that are happening in the London startup scene and the increase in angel investing and venture capital in Europe.
For 4 years I lived through the heyday of this boom in UK startup funding. But my experience was that to go along with the increase in investors, there has been a corresponding increase in startups so that the two have balanced each other out. The good startups that get funded by good investors are still dedicated, hardworking and humble.
I’ve reproduced the article from the Financial Times site below because the article is so important as a record of a certain time in London’s startup scene and it would be a shame to lose it. You can see the original article, if it’s still visible on the FT site.
As part of our work for the Innovation Warehouse, I’m travelling to New York with a cohort of startups from London. UKTI have helped pull together a group of exciting new businesses from London’s Tech City to take to New York for a modern version of a trade mission. The startups are going to pitch for investment and meet new customers.
VentureOutNY is run by Brian Frumberg (and team) to promote New York as a first port of call for overseas startups expanding into the USA and raising capital from American investors. Over the course of the year, they have had events welcoming startups from all over the world and they have dedicated events coming up for startups from Brazil and Portugal.
Minimum Viable Knowledge is the amount of information that you need to know about a subject to operate effectively in that domain. Tim Ferriss is the master of how to achieve the minimum effective knowledge on any topic quickly, easily and elegantly.
Learning how to learn is one of the main things that makes a good business person into a great thinker. All the things that can hold back a natural strategist, become a strength once you can articulate and accelerate the way that you absorb and process information. Being a polymath is often considered a weakness until you become a credible specialist in being a generalist. Tim has created a robust system for something that a good Renaissance Man has always known: how to quickly learn just enough about something to be dangerous.
Converge+UK is evolving fast from a one-off startup event into an enduring programme of evening events, workshops and conferences. The last Converge+UK event of 2012 was held at the Wayra startup incubator. Wayra is a Telefonica backed startup space just off Tottenham Court Road (at very the north end of Soho). The mature creative neighbourhood of Soho has a very different feel to the startup tech scene in Shoreditch where we’ve held our previous Converge+UK events.
Wayra has around nineteen startups involved in their programmes. The space has a mix of open-plan and breakout spaces. It was opened by Boris Johnson and has hosted dozens of exciting events so we were humbled to have access to the space. Ashley and the Wayra London team were great hosts.
The second Converge+UK event was held at the Innovation Warehouse on 3 October 2012. We had over fifty people attend from a mix of design, business and technology backgrounds. The mash-up of backgrounds made for some great debates and discussions.
The Converge+UK team are getting better at dressing the room to create a sense of occasion. Our branding is getting so good that we even had a few attendees try and (jokingly) steal the event posters at the end of the night. We’ll be making PDFs of the posters available on the Converge+UK website.
New ideas happen when old ideas collide. But if you’ve ever been to a networking event then you might have noticed that birds of a feather generally flock together.
While sitting in an East London cafe, Biotech consultant Tim McCready, entrepreneur Klaus Bravenboer and I bemoaned that business culture in the UK had turned out to be no further ahead in terms of innovation, collaboration and access to capital than our native New Zealand. And in some areas such as Angel Capital and start-up incubators, New Zealand was actually ahead of the UK.
I’ve been thinking a lot recently about how we curate our identities with brands. Menswear is a particularly interesting area of branding because so many men want to entirely avoid the issue of dressing, yet it conveys so much to others and to ourselves. The worst challenge for most modern men is Causal Fridays. As my dear friend Brian Richards says, men are left in limbo on Fridays, unsure of how to dress when deprived of both their jeans and their suit. Although personally, I’ve found that a smart velvet sports coat can cover a multitude of sins.
There is a lot that we can learn from the designers and entrepreneurs who have managed to capture the zeitgeist of menswear while strongly conveying their own take on what is means to be a man. To build a menswear business requires an interesting blend of confidence and inquisitiveness.
Design thinking was cool in the 1990s and early 2000s. There were a lot of conferences talking about how important a “design mindset” was to business problems. I was lucky enough to be close to the center of this explosion in creativity within business.
The UK Design Council ran a great conference in 2007. Even years later, the presentations still make powerful listening.