Going Beyond Unicorns: Growing a UK Tech Powerhouse

There’s been a lot of media courtesy over a past few months around a subject of unicorns. Until recently, for many people they were simply fabulous creatures from childhood or a Harry Potter universe.

But what’s all a bitch about? In Jun this year, a reputable columnist Jim Edwards wrote a blog about these supposed unicorns – secretly owned tech companies combined given 2003 and value some-more than $1bn (£650m). In a essay he estimated there were 108 unicorns worldwide. Within dual months that series was already out of date. Fortune, that publishes and updates a possess rarely regarded “Unicorn List,” named 136 companies that fit a description. Who knows what a sum is now?

It’s this remarkable swell in expansion that’s got a zone chattering excitedly: a tech courtesy is sepulchral and that’s good news.

But what unequivocally matters about this bang lies within a bigger picture. It’s not usually about a unicorns. As vicious are a most smaller – during slightest so distant – tech startups where gifted immature entrepreneurs are entrance adult with new disruptive ideas and operative into a tiny hours to move them to fruition. It’s these tiny startups that need to be delicately nurtured: they are a immature shoots on that a destiny of a zone in a UK relies.

To my mind, nurturing means dual things. The initial is financial support.

Thanks to a courtesy that unicorns are generating, try collateral is issuing into Europe. But to secure a tech industry’s destiny in a UK, this appropriation can’t be formed quite on creation a quick buck: a investments also need to be about formulating long-term success stories. Fortunately there are supports doing usually this, with appropriation criteria formed on long-term record bets.

The second part, nurturing tomorrow’s tech powerhouses involves ancillary a gifted people behind these startups and assisting them to emanate their possess veteran support networks.

Just since a owner demonstrates clever entrepreneurial expostulate and vision, doesn’t meant they do not need support as they grow into well-rounded business leaders. Unlike operative in an enterprise, these people aren’t automatically surrounded by peers with a different set of practice to offer. And, as they mostly work in really small, tight-knit teams, carrying outmost perspectives and sounding play is even some-more important.

Many stream ‘techpreneurs’ will attest for this. Cloud9 IDE, for example, is a fast-growing and rarely successful UK tech startup. Its co-founder and CEO Ruben Daniels has said: “Our investors yield not usually a funding, network and introductions, though also mentorship, and this has been vicious in assisting us grow.”

So, while we applaud a further of some-more and some-more unicorns to a UK economy, let’s also concentration a courtesy on nurturing tiny startups to turn a British tech giants of tomorrow.

Behind each good business thought or tech creation is a person. It’s adult to all of us to maintain that talent – it’s as vicious as a strong VC tube in assisting safeguard a sector’s continued expansion and success.

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