UK start-up Huddle has hailed a start-up event held at 10 Downing Street last week a success.
The Pitch10 event saw 10 young technology companies present their business ideas to an audience of investors and senior civil servants, including digital minister Ed Vaizey, digital advisor to the PM, Joanna Shields and prime minister David Cameron himself.
Chris Boorman, Huddle’s chief marketing office, attended the event and said it was good to see the government putting 10 fast-growing UK companies in the same room as late-stage investors.
“I think it’s really good to highlight the successes of what’s happening with young start-ups in the country,” said Boorman. “And also connecting them with later stage investors and enterprises who they can sell to. I think that’s a very good initiative.”
Many start-ups have said its relatively easy to get early stage funding in London but the late stage funding rounds, which typically involve raising in excess of £10 million, have not been as easy to come by.
Huddle itself - an enterprise collaboration and content management platform used by the likes of Nasa, KPMG and the Cabinet Office - moved its head office from London to San Francisco after CEO Alastair Mitchell struggled to gain the venture capital he needed to grow the business in the UK.
“This needs to carry on with a growing momentum," he said. "One of the things that government can do is not only invest in young companies but also facilitate a way of bringing together the organisations that can help technology and industry flourish.”
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