BFS’17 Funding and Growth Support for Science, Tech & Innovations Session

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This session presented to the audience the most forward looking corporations enabling business acceleration within Science, Tech and Innovations sectors. The speakers were Sonya Lovieno – Head of Accelerator and Growth at Silicon Valley Bank’s UK Branch (SVB), Rachel Power – Open Innovation Ecosystem Senior Manager at Accenture, Kevin Monserrat – Marketing Executive working as Chief Marketing Officer of Microsoft Accelerator and Tom Salmon – CEO and co-founder of The Bakery and the moderator was Will Groom. Arina Osiannaya – Managing Director at Business Funding Show (BFS) – was the session’s moderator.

Why should investors know the business they are investing in? For Sonya Lovieno, it is essential that business’ funders know the sector they are investing in, especially in Tech and Innovation where the complexity and risks are much higher compared to others. Many investors offer not only money – companies need, but also a crucial guidance and help to overcome potential difficulties that SMEs might have. To do so, they need to comprehend the business and provide support.

Rachel Power, on the other hand, believes that sometimes investors don’t need to know the sector very well. Not all start-ups want guidance or expertise, some of them just want money for that reason, in those cases it’s not fundamental that investors know the business they are investing in.

The question, many investors are looking an answer for what will be the next trend and what kind of companies from the tech spectrum are going to be growing fast. Rachel shared that for the UK market, artificial intelligence (AI), cyber security and virtual assistance are the kind of tech sectors to follow.

It is a growing trend to see larger companies willing to work with businesses in early days. Tom Salmon believes that working with start-ups have many benefits. One of them is that start-ups are a pool of talents where larger corporations can gain access to people with expert knowledge into some specifics technologies. Start-ups also benefit from these ventures. They gain access to sophisticated and expensive resources that they wouldn’t have be able to afford otherwise.

According to Kevin Monserrat, Microsoft Accelerator prefers to work with late stage businesses instead of start-ups. They feel that their expertise is in helping to validate and improve businesses and not in teaching how to do it. Many entrepreneurs, in fact, are reluctant to work with big companies, because they are afraid that a company with a larger budget and resources can build or implement their ideas without getting them involved. To answer that, Kevin Monserrat said that they want to help not to steal. Microsoft wants to learn from them. They let them use their technology and then with the feedback they get they develop better technology and programmes. The second reason is it is cheaper and less time consuming to help to develop an existing idea than start a new one.

Briefly, the current trend of larger companies working with companies in early stages should be seen as a win-win situation. On one side, big companies have access to a pool of talent and on the other side smaller companies can learn and get access to better and unique resources. Speakers panel shared that the businesses they are following and more willing to invest are companies developing products and services in areas such as artificial intelligence (AI), cyber security and virtual assistance.

Wondering how to design a winning crowdfunding presentation or want to know more about different crowdfunding models? Join our Crowdfunding Workshop on April 25th with top crowdfunding platforms: http://bit.ly/2o7uODJ

If you want more advice and information from leading financial institutions keep an eye on our future events: http://bit.ly/2mMWQko

Learn more about the Companies from the Speakers Panel:

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Silicon Valley Bank (SVB) provides a range of targeted financial services and expertise through its office in the UK. With commercial and international banking services, SVB helps address the unique needs of innovators.

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Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations.

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Microsoft Accelerator is a global initiative empowering entrepreneurs around the world on their journey to build great companies. We work with later-stage start-ups to provide the tools, resources, connections, knowledge and expertise they need to become successful companies.

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The Bakery is a company at the forefront of creating new ways of entrepreneurial innovation that are light years ahead, partnering global brands and large corporates with proven startup technologies and the most talented early stage technology companies in the world.

Wondering how to design a winning crowdfunding presentation or want to know more about different crowdfunding models? Join our Crowdfunding Workshop on April 25th with top crowdfunding platforms: http://bit.ly/2o7uODJ

If you want more advice and information from leading financial institutions keep an eye on our future events: http://bit.ly/2mMWQko

 

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