Update from Business Sheffield Tech Scaleup Advisors

Contacts: Morgan Killick, Morgan@levelupsolutions.co.uk  

Chris Wheater, cdw4020@gmail.com

  • We have been doing more to collect and analyse data about the clients we support and are pleased to be able to say that in the period 1/4/21 to date, we have 67 businesses in the portfolio, and have actively worked with 53 of these during the period. 31 of these are either undergoing investment readiness work or actively negotiating with investors. 
  • Collectively they have raised just over £4m in the period are there is a further £16.8m of investment currently being sought. Much of the latter has come to light in the last 3-4 months in particular and whilst we don’t think there will be many more deals secured this financial year, we expect 2022-23 to have a ‘bumper crop’. 
  • We are attributing the increase in demand for our services to a number of ‘pandemic era’ startups starting to come to fruition and explore support, and also to the excellent work of both Cooper Project and TEAM SY in bringing high quality tech businesses into the fold. 
  • In addition to 1:1 support, our advisors are regularly out and about participating at sector events including: The MD Club,  SY Angel Hub Investment Roundtable, Startup Meetup, GovTech Academy Showcase, MakerLab Open Day and AWRC Wellbeing Accelerator sessions. We are also once again discussing bringing Investor Ladder to the city, potentially in June. The original April date had to be postponed due to the impact of Omnicron on in-person event schedules.
  • Finally, negotiations over the creation of a new localised equity fund are about to restart. Although this is a complex area, more concrete news on this will hopefully follow later in the year.