As 2017 comes to an end, Tom Wilson, investment partner at Seedcamp, shares his take on the strengths and weaknesses of the UK tech sector.
2017 has been a positive year for early-stage tech startups and the growth of the European ecosystem as a whole. We’ve seen significant developments and success in territories such as Romania where UiPath (full disclosure also a Seedcamp investment) closed the largest ever Series A ($30M) led by Accel. In France, the launch of the impressive Station F in Paris is a huge boost to the tech scene and in the UK the government moved to increase the number of exceptional talent visas and promise additional investment to emerging sectors such as artificial intelligence.
At Seedcamp, we remain very bullish on the prospects for the region and for the potential to create not just $bn but $10bn and $100bn companies. While the outlook is positive, there are certain challenges that come up time and time again and can inhibit breakout growth. The end of any year is as good a time as any to reflect, highlight some of the main challenges early-stage companies continue to face and identify some ways to overcome or even embrace them. ...