Tag: start ups

UK government ignores start-up tech outfits

Posted on January 3, 2017 by - News

are-we-afraid-noCES organiser Gary Shapiro, of the Consumer Technology Association, said that the UK government is pants when it comes to encouraging start-up technology firms.

Shapiro said that Blighty has been slow to the game and while he has some minister from the UK coming to the show there is not a lot of activity that we’ve seen at CES.

“I think it’s a source of embarrassment,” said Shapiro.

Other countries do things much better. The French give lots of support to tech firms but the UK’s attitude of the UK government was short-sighted.

About five times as many French companies are attending the year’s biggest consumer technology trade fair as compared to British firms. Canada, China, Taiwan and South Korea are well ahead of the UK.

The UK’s Department for International Trade (DIT) said that such a statement was jolly unfair as it was providing “targeted support” to such firms. In other words, rather than support a large number of start-ups it is providing only a small number of start-ups.  It saves money and you don’t have to give money to any riff-raff who asks you for it.

According to BBC, earlier a UK Trade and Investment stand used to be present at CES, but this year there will be no stand. While British electronics retailers will be at the show, but are less likely to find anything that is created in the UK.

London could lose out as Euro tech hub

Posted on December 6, 2016 by - News

are-we-afraid-noLondon could lose its position as the leading destination for start-ups in Europe thanks to Brexit.

Tech investors moaned at the TechCrunch Disrupt London conference, that the government needed to answer shedloads of questions around immigration policy.

James Wise, partner at venture capital firm Balderton Capital, said that Britain employed 31 percent of all the people in Europe working in tech start-ups, and a significant number of them had moved to the country to start their businesses.

Government initiatives to support the tech sector were welcome Wise said, but the British government needed  to show more leadership and clarify the many questions hanging over the free movement of talent.

“The number one concern is still access to talent, and while the raft of announcements are all very welcome, very few of them deal with the ability to attract global talent to the UK to build companies here,” he told Reuters.

Reshma Sohoni, a partner with Seedcamp, which invests in  early stage companies, said funding for such companies had tightened considerably since the Brexit vote.

“We definitely see a narrowing of the kind of companies that can get series A or series B funding,” Sohoni said, referring to early rounds of venture funding that young companies need to grow. “Combining the uncertainty and the trouble getting visas, absolutely it (Brexit) is a problem,” she said at the event.

Matt Hancock, minister for the digital economy, said Britain needed “to be open and welcoming to the brightest and best from around the world” and not just the EU.

“Over the last few years, we’ve had freedom of movement within the European Union but outside we’ve had a fairly tight visa system, and we need to make sure we are clearly attracting and winning the global war for talent,” he told the assorted throngs.

“We’ve been doing this with visas for individual countries over the past few years, improving significantly for instance the visa system for China. Clearly we’ve got to get this right.”

Cisco to invest in French starters

Posted on February 17, 2015 by - News

Cooked_snailsUS network equipment maker Cisco is to invest $100 million in French start-ups according to French Prime Minister Manuel Valls.

The investment is part of a partnership between the company and the French state that aims to develop better networks, improve cybersecurity, provide training 200,000 people over three years and finance academic research.

A statement from Valls’ office said that Cisco would assist digital innovation thanks to an  in French startups.

The deal was announced after Valls met Cisco CEO, John Chambers. It is not clear what Cicso’s cunning plan in France is yet, but we suspect it will be part of Chamber’s cloud strategy.

Recently SFR France announced that it was using Cisco products in its upgrade from IPv4 to IPv6.

 

Bank of England urged to support start-ups, SMEs

Posted on August 29, 2013 by - News

poundsA tech entrepreneur has called on the Bank of England to ramp up support for SMEs and start-ups, in what can only be a case of stating the obvious. However, every now and then the powers that be need a kick in posterior, as they tend to lose touch with reality quite often.

Powa Technologies CEO Dan Wagner said he would like to hear from the new Governor of the Bank of England and that he would like to see more support for entrepreneurial talent in the UK from Mark Carney.

“We have some fantastic, inspirational entrepreneurs who start great businesses, but unfortunately many of them have to go abroad to get the funding they need to grow and succeed and that is a shame,” he said. “Britain has great innovation across all areas and it needs to be nurtured and supported because it will be the lifeblood for the return of economic strength.”

Of course, Britain is no East Germany and it’s not experiencing a brain drain, but there is always room for improvement. Wagner believes the biggest problem for small businesses and start-ups is the lack of tax incentives for investment. In other words, even if a start-up comes up with a new idea and starts growing, it might choose to expand elsewhere, which means Britain could lose winners – and they are few and far between in the start-up world.

“I would like to see capital gains tax completely removed from the funding of start-up businesses. Any funds that are invested to create opportunities and jobs should see a full capital and profit return because of the great risks involved. This would be a political saviour. Small businesses represent 50% of the economy and its new small businesses that will drive future economic growth,” said Wagner.

Wagner told business leaders at an event in Nottingham that Britain knows a thing or two about coming up with brilliant ideas, such as the World Wide Web, and it needs to tap the potential by providing the right environment for start-ups and tech entrepreneurs. The long term benefits of losing a few quid on lower taxes for small outfits far outweigh the short-term tax revenue generated by such companies.

Resellers cautiously welcome the budget

Posted on March 21, 2013 by - Interviews, News

gosborneResellers have cautiously welcomed some parts of the Budget, saying elements could help smaller businesses and the IT industry.

However, they have warned that by giving benefits and breaks to SMEs and start ups larger companies may find room for complaint.

The comments come as Chancellor George Osborne set out plans to drive the economy by offering SMEs reductions in National Insurance.

The latter was described as a “tax off jobs,” offering every company in the UK the option to take the first £2,000 pounds off their National Insurance bill.

Additionally, he said the Coalition will provide funding for any external advice companies needed.

According to Osborne, roughly 450,000 small businesses  could end up paying no jobs tax at all under the new outlines. He said that for those starting their own businesses and looking to employ staff, “a huge barrier would be removed” when the legislation passes next April.

Responding to the budget, a source at a large reseller told ChannelEye the £2,000 credit against employer’s NI contributions is “a great initiative” and “could also help start-ups too”.

“Not so good for bigger firms who may in the long run face competition from the up and coming businesses with smaller overheads offering cheaper IT services,” the source said.

Another added: “I suppose it’s good that the budget is proposing a cut in corporation tax and boosts for SMEs, however, whether that will pay off remains to be seen.”

Both resellers queried plans to hold off infrastructure plans until 2015, which the Chancellor hinted at when he claimed that, although the government planned to support the economy with the infrastructure it needs, he would only look at throwing £3 billion a year at broadband and mobile telephony investments from 2015 to 2016.

“The reduction in the growth outlook means there will be no new money for infrastructure until 2015/16,” this large reseller told us. “This means we are left in limbo as an economy. This will have a knock on effect on the IT sector, which thrives through new initiatives and businesses.”

The other added: “The Budget is more focused on helping smaller businesses, so surely delaying this could have a knock on effect on the economy”.