Tech Nation provide ambitious tech entrepreneurs and scaling businesses with the coaching, content and community they need on their journey; fuelling their growth so they can transform societies and economies in a positive manner.
Now in its sixth year, Tech Nation’s Upscale programme consists of 33 of the UK’s best performing, most promising tech scale-ups.
It was created to support the growth of those businesses by exploring and anticipating their fundamental challenges – together with peers, established tech founders, advisers, and coaches, such as Tom Blomfield, founder of Monzo Bank. Other partners to the programme include Silicon Valley Bank and the law firm, Cooley.
Despite the pandemic, UK tech scale-ups remain a hotbed of innovation, investment, and job creation. And the companies in the Upscale cohort are growing rapidly, having already raised over £275m of external capital.
This is why we’ve partnered with Tech Nation, in a move Steve Leith, our Head of Tech & High Growth, describes as a “no-brainer”:
“Scale-ups need to optimise for speed of service. They need advisers who are experienced in dealing with the varying challenges of rapid growth and fundraising. And they need everything delivered at fee levels proportionate to the size of the business, too.
“The scale-ups in the Upscale cohort are typically reaching that inflexion point, where professionalising their finance function is coming into focus, and solving finance-related challenges is becoming critical to their next phase of growth.
“Often, it’s at this point that scale-ups consider working with an accounting firm with the right experience to support the next stage. We are that firm. And we have the culture to match the scale-up mindset to boot.
“That’s why it was a no-brainer to partner with Upscale and offer that support, adding perspective, experience and value to these businesses – during and after the programme.”
HOW DO WE SUPPORT SCALE-UPS?
Despite being consistent in their growth stage, the Upscale cohort won’t all be facing the same challenges. So, understanding strategy and trajectory comes first, then, we’ll be able to flush out which finance-related challenges they should (and shouldn’t) be worrying about.
That could include:
1) Considering whether they need to appoint a new adviser who can cover audit and tax-related matters, giving them speed of advice when they need it most;
2) Joining up this work with their R&D claims process to drive cost and time savings;
3) Supporting their fundraising activity at Series A with our specialist Raising Finance team; or
4) Finding solutions to any issues around corporate expansion, including international aspects like market entry, transfer pricing and IP considerations, employing people across borders, permanent establishment issues, cross border VAT and sales-taxes, and share option planning.