First cohort of Future Fifty companies revealed; Fast Track scheme supports high-growth businesses to reach their full economic potential
(M2 PressWIRE Via Acquire Media NewsEdge) Tech City UK today reveals the first wave of exciting, high potential growth businesses to join the Future Fifty a fast-track programme of public and private sector support to catalyse growth, create jobs and deliver significant economic impact to the UK.
The Future Fifty was launched in April by the Chancellor George Osborne and Joanna Shields, UK Ambassador for Digital Industries and CEO of Tech City UK. The programme connects high-growth companies with expertise and tailored support to enable them to scale rapidly and lay the foundations for their next major liquidity event.
The first cohort consists of innovative technology businesses transforming industries ranging from fashion, to leisure, consumer goods to property and financial services and includes companies such as Zoopla, MADE.com, Skyscanner, One Fine Stay, and Just Eat. Such businesses are the engines of economic growth and job creation with NESTA research suggesting that a minority just 6% generate 54% of all new, high value jobs.
Prime Minister David Cameron said: I am determined that we do everything we can to make Britain the best place to start, grow and do business. As well as backing the businesses of today, this Government is also backing the innovative, high-growth businesses of the future. The Future Fifty programme is action that will help these businesses to grow and achieve their potential, and help us to compete and thrive in the global race.
Joanna Shields, CEO of Tech City UK said: As digital innovation transforms business & society on an unprecedented scale, entrepreneurs around the UK are creating new businesses and new jobs in record numbers. The Future Fifty programme will help the most promising companies make the UK their home and solidify London as the world's digital capital the most attractive destination for entrepreneurs, startups and their investors.
Following a rigorous selection process conducted by a panel of industry experts, investors, advisors and successful entrepreneurs, the twenty five companies have been welcomed onto the year-long programme. The Future Fifty will provide concierge-style support to address key business needs along with a continuous programme of press and promotional backing, modular 'opt-in' business support and educational content and bespoke events.
Xavier Rolet, Chief Executive of the London Stock Exchange said: "High-growth, innovation-led companies are the lifeblood of modern economies. Supporting entrepreneurs, and keeping the companies they create in the UK, will keep Britain growing. We need to provide the right mix of finance for every stage in a company's development to make doing business and accessing capital markets in Britain as straightforward as possible.
The new concierge service, Future Fifty will do exactly that, helping entrepreneurs, promoting growth and providing jobs.
The Future Fifty helps further cement the UKs position as the worlds best destination for high-growth businesses. It builds on reforms introduced by the London Stock Exchange and the Government to create the right environment for high growth companies to succeed by increasing the attractiveness of UK equity markets. These include the creation of a new High Growth Segment with tailored eligibility criteria to improve access to the public markets for high-growth companies.
The Future Fifty: first cohort
The first group of high-growth companies to successfully join the Future Fifty programme are:
Zoopla Property Group - owns and operates leading online property brands including Zoopla.co.uk and Primelocation.com. Its websites attract over 40 million visits each month.
Skyscanner - the worlds fastest growing international travel search company.
Onefinestay - a service that helps city travellers stay in beautiful homes appointed with all the creature comforts of a hotel in London, Paris, New York and Los Angeles.
Omnifone - an independent business-to-business provider of global cloud-based digital music services.
Neomobile - a global Mobile Commerce Group providing mobile payment and advertising services.
Mind Candy - an entertainment business delivering experiences both online and offline including toys, books, magazines, music, trading cards and movies.
MADE. COM - an online designer furniture retailer working with 40 world-wide established designers and collaborators to create exclusive designs.
Lyst - a personalised fashion marketplace that gives millions of people that personalised shopping experience every month.
Just Eat - a site which uses proprietary technology to offer an efficient on-line ordering service for the restaurant industry in thirteen countries around the world.
HouseTrip - one of the largest holiday rental websites in the world, offering holidaymakers and holiday home owners a safe and easy-to-use platform to find, book and list holiday apartments, houses and villas.
Green Man Gaming - the fastest growing social commerce platform for core gamers which combines an automated game tracking community with a robust digital E-commerce platform.
Farfetch - an online fashion brand and shopping site which brings together a network of global partners including European and North American multi-brand designer boutique.
Box - a cloud based data provider that makes businesses more competitive, productive, and powerful by connecting people with their most important information.
Acturis - an innovative, cloud based Software as a Service platform transforming the commercial insurance industry.
Calastone Limited - an independent cross-border transaction network for the global funds industry.
Hailo - a free smartphone app which is revolutionising the way taxis are hailed, putting people just two taps away from licensed taxis at all times.
Horizon Discovery - a UK biotechnology company that combines a long scientific heritage in translational research with a world-leading gene-editing platform.
Huddle - a cloud content collaboration service used by government organisations and enterprises worldwide.
Lumimobile - employs world class patented technology to empower business insight and engagement through mobile devices.
Mimecast Services - delivers cloud-based email management for Microsoft Exchange and Microsoft Office 365, including archiving, continuity and security.
Repknight - the fastest open source intelligence (OSINT) platform in the world, sold only to government security services and police forces.
Zopa - the UKs leading peer to peer lender, matching smart borrowers looking for low rate loans with savers who want higher interest rates on their returns.
Secret Escapes - the UKs largest flash sales site for luxury travel, saving members up to 70% on luxury hotels and holidays.
Skimlinks - creates native monetisation solutions for publishers, rewarding them for any e-commerce they drive by turning product links and product references into easily tracked affiliate links.
Synthesio - a leader in global social media monitoring, helping brands and agencies listen to, understand and engage with consumers.
David Buttress, CEO of Just-Eat said: Were delighted to be involved in this high profile programme alongside other fantastic digital and technology businesses. Our inclusion is testament to the hard work and relentless passion for innovation across our teams in thirteen countries, as we continue to grow and empower consumers to love their takeaway experience.
Alex Chesterman, Founder & CEO of Zoopla Property Group said, "We have been one of the fastest growing online businesses in the UK since 2008. We now own and operate some of the UK's leading online property brands including Zoopla, PrimeLocation and SmartNewHomes. Our focus is on continuing to develop our brands and grow our business in a sustainable way and The Future Fifty programme provides us with the ideal platform to help realise our ambitions and were delighted to be on board."
Michael Acton-Smith, CEO, Creative Director and founder of kids Entertainment Company Mind Candy said: "Mind Candy is delighted to be part of the Future Fifty and feel it's a great initiative for the rapidly growing Tech City community and around the rest of the UK."
Company selection was led by a 13-strong advisory panel comprised of venture and growth capital investors, lawyers, accountants, communications specialists and management teams drawn from successful UK tech companies.
Judges selected the twenty companies through a combination of quantitative and qualitative criteria. Quantitative measurements focused around financial metrics such as revenue, revenue growth, and profitability.
Qualitative metrics included an assessment of the company, its products, market environment, competitive position, and strength of the leadership team as well as an assessment of further opportunity and scalability.
Robin Klein, Venture Partner at Index Ventures and a member of the Future Fifty selection panel said: It has long been clear that more needed to be done for our country to take full advantage of its growing digital sector.
Action such as this sends a clear signal to investors, entrepreneurs and the World that were serious about the positive potential of technology businesses and the economic impact they create.
Jonnie Goodwin founding partner of Lepe Partners and a member of the Future Fifty selection panel said: Through our Founders Forum get-togethers of entrepreneurs, CEOs and investors around the world we see first-hand how governments and countries are attempting to support and sustain the incredible growth potential of technology businesses. I can say with confidence that this programme is genuinely world-leading and along with the other panellists Im incredibly excited to see where it takes the first twenty five businesses that have been selected.
Support built around the needs of each company
The programme will be managed by a focused team with a mix of private and public sector experience. This will provide a single point of contact into delivery partners across Government, matching companies with publicly funded schemes and incentives relevant to their stage of growth and specific needs. A broad range of private sector partner organisations and mentors with deep experience of high-growth businesses and public markets have been assembled to provide mentorship and business development support in areas including accountancy and legal advice, corporate governance and support for companies approaching a public listing, marketing and public relations. The support provided by these partners, as well as the contributions of any further organisations interested in supporting the programme will be driven by the particular needs of the Future Fifty companies.
Applications for the second wave of the programme are open from today.
Further details on selection criteria and an application form can be found at www.futurefifty.com.
Notes to Editors
For more information please contact the Tech City UK press office on 020 7367 6001 or email email@example.com
*Members of the Future Fifty Advisory Panel (full list):
- Linda Main, Partner at KPMG
- Kevin Walsh, Partner at Deloitte
- Jonathan Goodwin, Founding Partner at Lepe Partners
- Simon Patterson, Managing Director of Silver Lake
- Gregor Pryor, Partner at Reed Smith
- Nick Beighton, CFO of ASOS
- Robin Klein, Partner at Index Ventures
- Andrew Kanter, former COO at Autonomy
- Stephen Welton, CEO of Business Growth Fund
- Sonali De Rycker, Partner at Accel Management
- Tim Bunting, Partner at Balderton Capital
- Alex Finnegan, Associate at Brunswick Group
- Charles Baden-Fuller, Cass Business School
020 7260 2700
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.com on the world wide web. Inquiries to firstname.lastname@example.org)).
(c) 2013 M2 COMMUNICATIONS
[ InfoTech Spotlight's Homepage ]