Our first story for this week’s Linkibuzz looks at bootstrapping a startup and what to do when your startup needs to get investment funding to grow. A couple of experts reveal their tips about getting funding successfully.
Our second story regards London mayor Sadiq Khan and how he is travelling to some major cities in North America promoting London’s tech startup scene as a great place to invest in.
Third, we look at something of a serious concern for UK startup’s, which is funding issues that stifle growth and scalability of companies in the UK.
Lastly, we feature a story about how artificial intelligence is being used to help autistic people live more organised and fulfilled lives socially and regarding employment.
The idea of bootstrapping – starting and growing your business without any external help – is something of a legend among startups. Everyone is fascinated by startups that are able to achieve success while bootstrapping.
However, the facts are that it can be hard to make your startup work this way. That’s what makes this post so fascinating because two industry experts with bootstrapped startups share their advice on how to make a bootstrapped startup work and what to do when you need to get investments.
One of the experts, Guhesh Ramanathan, mentions how one of the crucial things you should look out for is chemistry between you and the investor. He explains how if the chemistry is not there, then it can totally ruin the startup and make running it even more difficult than it needs to be.
The other expert in the post, Anil Joshi, mentions how there are a few things that every startup should keep in mind before seeking an investment. There are a number of things he mentions but a couple we wanted to highlight are being able to clearly communicate your company’s value proposition and demonstrate the value of your business and its future.
Make sure you read the rest of the post to see their tips in full.
London’s mayor Sadiq Khan is travelling to New York, Montreal, and Chicago with the aim of attracting more investments to London, and also reassuring potential investors that the future for tech startups in London remains bright despite the Brexit.
Investments for tech startups in London have remained strong despite the Brexit vote. Since June 23, $500 million worth of investments has poured into London’s tech startups. The feeling among many in the US is that the Brexit is nothing to fear.
According to a survey, 200 US tech executives said they still believe London to be the best city in Europe for tech startups. Investments are still coming in from the US so confidence has not been dented across the Atlantic.
However, as Russ Shaw, founder of Tech London Advocates states, the biggest concern for tech startups isn’t attracting investments, it’s immigration. Specifically, immigration barriers that hinder their ability to hire quality talent from the EU.
This is an area that really threatens the growth of many tech startups in London so it’s one that must be minimised if London is to remain a tech startup hub in Europe.
The UK has a serious issue with startups reaching enormous size like a Google or a Facebook. This is despite the fact that the UK is considered a global hub for startups and attracts many entrepreneurs to its shores from abroad.
So the question now being posed is, why?
There are numerous factors from skills shortages, difficulties in raising finance and leadership problems.
However, according to the founder of investment firm Tech Talent, Neil Woodford, the problem is that small companies are just not being given the long-term capital to grow and scale. And this makes it incredibly hard to build a powerhouse company in the UK.
The small startup funding has not been a problem and there are many generous tax breaks to make this kind of funding possible. Rather the problem lies in what Rohan Silva calls, ‘scale-up cash.’ He also makes the point that long-term funding for startups has been a problem in the UK for a long time now because of a lack of this ‘scale-up cash’ funding.
Another area of concern that Woodward points out, which could be a major contributing factor to all of this is that many UK startups are thinking too short term. They don’t have that long-term vision required to be a big company. If you don’t have that, then it makes it harder for investors to pour money into that specific startup.
The key for UK startups and investors is working together to identify a way that they can get those larger capital investments so they can scale and grow into a giant company.
Reducing unemployment and helping people remain gainfully employed is always one of those problems in society we face. However, what about for people with disabilities?
It is undoubtedly much harder for disabled people to find employment and then remain employed. That’s what makes this post so great because a company called Identifor has created an app for iOS and Android that specifically helps Autistic people stay organised and find employment.
Specifically, it uses an artificially intelligent virtual assistant called Abby. Abby essentially becomes a personalised aid for an Autistic person’s day to day routine. She learns each person’s daily habits, routines, and behaviours to help stay on track of tasks in their work and social lives.
We have noticed that AI is becoming more and more popular. There are more startups now that are creating some kind of AI software or technology than ever before. And with apps like the one created by Identifor, it could be a vital tool to helping many different types of people live more fulfilled lives.
Thanks for reading Linkibuzz #64, here is a quick recap of this week’s featured posts.
Our first story addressed startups and bootstrapping, but specifically what to do when your startup needs to get that extra investment capital to grow and how to get the funding.
Secondly, we featured a story about how London’s mayor is travelling to a couple of major cities in North America to encourage them to invest in London’s tech startups and reassure them of London’s place as a global hub for startups despite the Brexit.
Third, we take a look at why funding for startups in the UK is so bad. A number of areas are explored to explain why funding is not where it should be.
Lastly, a bit of a feel good story with a company called Identifor that has developed an app utilising AI for autistic people. Specifically, the app uses an artificially intelligent virtual assistant to make the lives of autistic people easier and more fulfilling.