Blick Rothenberg have launched the Tech Business Awards - a business programme for UK-based tech start-ups worth over £100,000.
London Chartered Accountants Blick Rothenberg LLP, The Investors Chronicle, Tech City News and Channel 4 News have joined together to find ten exceptional tech young/start-up companies.
The companies will be given a year of free and subsidised financial and business advice from Blick Rothenberg, which was the first accountancy firm to get involved in London’s Tech City.
Nilesh Shah, Senior Tax Partner at Blick Rothenberg, said: “Young tech companies often fall at the first hurdle, not because the technology they have developed is poor but simply because they have not put in place the right financial infrastructure nor have the right mentor as the business is growing.”
He added: “Our role in this project is to provide advice and guidance around finance and tax but also use our considerable experience of dealing with tech companies to mentor founders on the disciplines of running and growing a business.”
A competition will be held to find the ten companies and will be judged by a panel of experts, including Nilesh Shah, John Hughman, Editor of the Investors Chronicle, Ryan Fowler, Editor of Tech City News and Geoff White, Technology Producer from Channel 4 News.
John Hughman said: “We are excited by the increasing level of innovation shown by companies in the UK, and we are hopeful that this initiative will help more companies navigate the difficult long road between having a good idea and achieving commercial success.”
Ryan Fowler said: “We are delighted to be able to support Blick Rothenberg with their Tech Business Awards. The decision to leave a job or spend your life savings to start up a new business is extremely difficult.”
He added: “It is often only done after encouragement and support from a lot of family and friends. After that decision is made, one of the first things an entrepreneur encounters is the frustrating and time-consuming financial processes that need to be put in place. This can be discouraging so the value that firms such as Blick Rothenberg can add to process cannot be understated.”
Geoff White said: “The UK is a world-leading tech centre. Every day, people with new ideas and technology are starting their own businesses, following their dreams. One may think that is the hardest part, but actually turning an idea into a successful business is the hardest. The Tech Business Awards will help successful applicants to ensure the financial building blocks of their start up are in place to give their business the best possible chance of success/growth.”
Criteria for the competition are as follows:
- They must be UK company incorporated and active for less than 2 years;
- Be an owner managed business;
- Must have up to £500,000 of external funding achieved or secured;
- Achieved revenues from the previous 12 months of more than £100,000; or have a tried and tested product at beta stage or about to launch;
- A strong management team
- To apply for our Tech Business Programme, please click here.