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December23,2016
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
Deep Dive: London—a Top
Hub for Startups
LondonisthetopEuropeanstartuphubandoneoftheworld’sbestplacesforstartupstogrow.Thecityprovidesyoungcompanieswith:
1) Marketreachandanenvironmentconducivetogrowth:Londonoffersstartupsaccesstoalargedomesticmarketaswellasinternationalmarkets,andtheabilitytogrowfasterthancompaniesbasedelsewhere.
2) Accesstocapital,astrongnondigitalinfrastructure,anentrepreneurialcultureandaskilledworkforce:Asafinancialhub,Londonoffersstartupsgreateropportunitytoraisefunds.Thecityalsohasastrongtransportationsystem,afavorablebusinessenvironment,ahistoryofstartupsuccessesandalargepoolofhighlyskilledworkers.
Deborah Weinswig
Managing Director,
Fung Global Retail & Technology
US: 646.839.7017
HK: 852.6119.1779
CN: 86.186.1420.3016
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December23,2016
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
TableofContentsExecutiveSummary........................................................................................................................................3
Introduction...................................................................................................................................................4
London:ALeadingStartupHub......................................................................................................................4
HowLondonCompareswithOtherStartupHubs...........................................................................................6
LondonRanksSixthinthe2015GlobalStartupEcosystemRanking..............................................................7
LondonLeadstheEuropeanDigitalCityIndex2016......................................................................................8
Retail-FocusedAcceleratorsinLondon.........................................................................................................10
JLAB..............................................................................................................................................................11
TrueStart.......................................................................................................................................................14
London-BasedAcceleratorsandIncubators..................................................................................................16
KeyTakeaways.............................................................................................................................................20
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December23,2016
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
ExecutiveSummaryInthisreport,weprovideanoverviewofthestartupecosysteminLondon,whichisthetopEuropeanstartuphubandoneoftheworld’sbestplacesforstartupstogrow.StartupsinLondonattractmoreinvestmentandgenerategreaterrevenuethanthoseinotherEuropeancities.Forexample,in2014,London-basedstartupsattracted€5.19billionmoreininvestmentandgeneratedalmostfivetimesmorerevenuethanBerlin-basedstartups,accordingtoStartupHubsEurope,aplatformthattracksandanalyzesinformationonstartupsacrossEurope.
ThestrongpresenceofanumberofindustriesinLondonmakesthecityafavorableenvironmentforstartups.StartupsinLondonhaveaccesstofunding,thankstothecity’slargefinancialsector;accesstonetworkingopportunities,thankstoavibrantcreativeindustry;andaccesstoexpertiseandahighlyskilledworkforce,thankstoLondon’sworld-classuniversities.Moreover,thecityhasabusiness-friendlyregulatoryenvironmentconducivetostartups’growth.
Inthisreport,weexaminehowLondoncompareswithotherstartupclustersinEuropeandacrosstheglobe.Weconsidertworankings,StartupCompass’s2015GlobalStartupEcosystemRankingandNesta’sEuropeanDigitalCityIndex2016.Londonrankssixthandfirst,respectively,inthesetwocompanies’rankings.Thecityexcelsonthefollowingindicators:
• Marketreachandperformance:AccordingtoStartupCompass,Londonoffersstartupsaccesstoalargedomesticmarketaswellasinternationalmarkets,andtheabilitytogrowfasterthancompaniesbasedelsewhere.
• Accesstocapital,nondigitalinfrastructure,entrepreneurialcultureandskills:AccordingtoNesta,Londonalsooffersaccesstocapital,astrongnondigitalinfrastructure(includingexcellentairportandtrainconnectivity),anentrepreneurialculture(afavorablebusinessenvironmentandatrackrecordofsuccessfulstartups)andahighlyskilledworkforce.
Source:Shutterstock
StartupsinLondonattractmoreinvestmentandgenerategreaterrevenuethanstartupsinotherEuropeancities.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
IntroductionLondonisaleadingstartuphubgloballyandthetopEuropeancityforstartupdevelopment.Youngcompaniesbenefitfromthecity’sstrongindustries,world-classeducationalinstitutionsandbusiness-friendlyregulatoryenvironment.
ThisreportprovidesanoverviewofLondonasastartupecosystem,andexamineshowthecitycompareswithotherstartupclustersinEuropeandacrosstheglobe.Weconsidertworankings,StartupCompass’s2015GlobalStartupEcosystemRankingandNesta’sEuropeanDigitalCityIndex2016.
Finally,thereportprofilestwoLondon-basedstartupacceleratorsthatfocusonretailandtechnology,aswellassomeofthestartupsthathavegraduatedfromtheirprograms,andprovidescomprehensivelistsofthemainstartupacceleratorsandincubatorsinLondon.
Source:Shutterstock
London:ALeadingStartupHubLondonisthetopEuropeanstartuphotspotandoneoftheworld’sbestplacesforstartupstogrow.ComparedwithBerlin,thesecond-largestEuropeanstartuphub,Londoncomesoutaheadonanumberofmetrics,includingstartups’abilitytoattractinvestmentandgeneraterevenue.In2014,London-basedstartupsattracted€5.19billionmoreininvestmentandgeneratedalmostfivetimesmorerevenuethanBerlin-basedstartups,accordingtotheEuropeanCommission’sStartupHubsEuropeproject—despiteLondonhavingnoteventwicethenumberofstartupsasBerlin.
LondonisaleadingstartuphubgloballyandthetopEuropeancityforstartupdevelopment.
In2014,London-basedstartupsattracted€5.19billionmoreininvestmentandgeneratedalmostfivetimesmorerevenuethanBerlin-basedstartups.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
Figure1.StartupEnvironmentinLondonvs.Berlin:KeyFigures,2014
Indicator London Berlin
TotalInvestment €8.32billion €3.13billion
EmployeeCount 1.49million 666,187
Revenue €207billion €45.5billion
NumberofCompanies 276,280 171,112
Source:StartupHubsEurope
Londonhasadistinctadvantagecomparedwithotherstartuphubs,thestrongpresenceofanumberofindustries,includingfinance,media,creative,marketing,governmentandtechnology.ThesestrongsectorsunleashsynergiesthatmakeLondonconducivetostartups,andthecity’sbusiness-friendlyregulatoryenvironmentalsobenefitsyoungcompanies.
Financialsector:ThepresenceofasubstantialfinancialsectorisamajorcompetitiveadvantageforLondon-basedstartups,asithasencouragedthegrowthoftheventurecapital(VC)industry(London’sVCsectoristhelargestinEurope),aswellasthegrowthofthefintechsectorandthecrowdfundingofstartups.
Creativeindustryandworld-classuniversities:TwootherfactorsthatmakeLondonatopstartuphubarethepresenceofavibrantcreativeindustryintheso-calledSiliconRoundaboutareaandthepresenceofanumberofworld-classuniversities,includingUniversityCollegeLondon,ImperialCollegeLondon,King’sCollegeLondonandtheLondonSchoolofEconomics.
Source:Shutterstock
Favorableregulatoryenvironment:London’sfavorableregulatoryenvironmenthasalsocontributedtoitssuccessasastartuphub.TheUKhasabusiness-orientedgovernmentthataimstocreateanenvironmentconducivetostartups.In2011,thegovernmentlaunchedastrategytoofferbusinessadviceandsupporttoentrepreneurslookingtostartand
London’sfavorableregulatoryenvironmenthasalsocontributedtoitssuccessasastartuphub.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
growtheirbusinesses.Since2012,thegovernmenthasmade£250million(€295million)instartuploansavailable.Moreover,in2014,theCoalitionforaDigitalEconomy—anonprofitorganizationoftechstartups—publishedTheStartupManifesto,whichmakesrecommendationsthatencouragethegovernment’sstartup-friendlypolicyinitiatives.
Business-friendlyenvironment:Generallyspeaking,however,itisthebusiness-friendlyenvironmentoftheUKthatencouragesthedevelopmentofstartups.ThetablebelowrankstheeconomiesintheOrganisationforEconomicCo-operationandDevelopment(OECD)inwhichitiseasiertosetupabusiness,accordingtotheWorldBank.ThisindicatorshowsthattheUKfaresbetterthanmanyothermarketswithstrongstartupecosystems,includingIsrael,theUSandGermany.
Figure2.SelectedOECDEconomies:EaseofStartingaBusiness
Economy StartingaBusiness
NewZealand 1
Canada 2
Australia 3
Ireland 4
SouthKorea 5
Estonia 6
Sweden 7
UK 8
Israel 17
US 19
Germany 32
Source:WorldBank
ThemaindrawbackoftheLondonstartupecosystemisthehighcostofoperatinginthecity,ashousing,officerentalandsalariesforhighlyskilledpositionstendtobehigherinLondonthaninmanyothercities.
DespitetheuncertaintycreatedbytheBrexitreferendum,London’sattractivenessasatechhubhasbeenrecentlyreinforcedbypostreferendumannouncementsfromFacebook,Google,Amazon,IBMandApple,allofwhichhavesaidthattheyplantoexpandtheirofficepresenceinLondonoverthenextfewyears.
HowLondonCompareswithOtherStartupHubsInordertobetterunderstandwhatcharacteristicsmakeLondonatopstartupecosystem,weconsideredtwoindexes,oneglobalandoneregional,thatrankstartuphubsaccordingtospecificindicators:the2015GlobalStartupEcosystemRankingandtheEuropeanDigitalCityIndex2016.
ThemaindrawbackoftheLondonstartupecosystemisthehighcostofoperatinginthecity.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
Source:Shutterstock
LondonRanksSixthinthe2015GlobalStartupEcosystemRanking
Londonisthesixth-bestecosystemforstartupsglobally,accordingtothe2015GlobalStartupEcosystemRankingcompiledbyStartupCompass,aSanFrancisco–basedcompanythatprovidessolutionsforautomatedmanagementreportsandbenchmarksforsmallandmedium-sizedonlinemerchants.Theindexranksstartuphubsonfivecomponents:
1) Performanceofthefundinginvestedinthestartups2) VCfundingandthetimeittakestoraisecapital3) Talentavailability4) Marketreach5) Startupexperience,suchasmentorshipbyveteranstartup
founders
Thecomponentsarebasedoninsightscollatedfromdifferentsources,includingsurveysandinterviewswithstartupsandentrepreneurs.TheindexdoesnotcoverChina,SouthKoreaorJapan.Intermsofspecificindicators,Londonperformsparticularlywellonmarketreachandperformance.
Marketreach:StartupsinLondonhavegoodaccesstoforeigncustomersandtoalargedomesticmarket.Inthe2015GlobalStartupEcosystemRanking,Londonranksfourthgloballyinbothlocalandglobalmarketreach.ToptargetmarketsforstartupsinLondonaretheUK,theUSandChina.
Performance:StartupsinLondonalsoenjoyfastergrowthcomparedwithstartupsinotherecosystems,andLondonrankshighestonStartupCompass’sGrowthIndexamongtheworld’stopsixstartuphubs.
Londonisthesixth-beststartupecosystemglobally,accordingtothe2015GlobalStartupEcosystemRanking.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
Figure3.2015GlobalStartupEcosystemRanking:LondonRankingforEachIndicator
Indicator Ranking
MarketReach 3/20
Performance 5/20
Talent 7/20
Funding 10/20
StartupExperience 13/20
Rankingisoutof20,with1/20thebestresultand20/20theworstresult.Source:StartupCompass
Figure4.2015GlobalStartupEcosystemRanking:GrowthIndex,TopSixStartupHubs
TheGrowthIndexiscalculatedbasedonannualgrowthinthenumberofstartups,growthinVCinvestmentandthetwo-yearmovingaveragegrowthoftheannualsumofexitvaluation;theaveragescoresacrosstheseindicatorsarethenconvertedintoa10-pointindex.Source:StartupCompass
LondonLeadstheEuropeanDigitalCityIndex2016
TheEuropeanDigitalCityIndex2016,compiledbynonprofitorganizationNesta,ranks60Europeancitiesbasedonhowwelltheysupportdigitalentrepreneurs.Therankingsarebasedonindicatorssuchasavailabilityoffinancingandskilledworkers,andqualityofsupportinginfrastructureandnetworks.In2016,Londonrankedatthetop.
Accesstofunding,abuzzingentrepreneurialcultureandaskilledworkforcearesomeofthefactorsthatmakeLondonthebestEuropeancityforstartups.Thecityperformsparticularlywellintermsofaccesstocapital,entrepreneurialculture,workforceskillsandnondigitalinfrastructure.
3.3
2.92.7
2.11.8 1.8
London TelAviv Boston SiliconValley NewYorkCity
LosAngeles
LondonisthetopEuropeancityfordigitalentrepreneurship,accordingtotheEuropeanDigitalCityIndex2016.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
Accesstocapital:Londonisthehighest-rankingcityinEuropeintermsofavailabilityoflate-stagefunding,crowdfundingandangelfunding.
Entrepreneurialculture:Thecityhasbeenhometoanumberofhighlysuccessfuldigitalcompanies,andthebusinessenvironmentischaracterizedbyacultureoftrustandawillingnesstotakebusinessrisks.
Skills:StartupsinLondonthatarelookingtohirehaveaccesstoasignificantpoolofuniversitygraduateswithstrongskills.English-languageliteracyishighamongtheworkforceandmanypeopleintheareaworkintheinformationandcommunicationtechnologysector.
Nondigitalinfrastructure:London’sexcellentairportandtrainconnectivitycontributestoitshighscoreonthisindicator.
Figure5.EuropeanDigitalCityIndex2016:LondonRankingforEachIndicator
Indicator Ranking
AccesstoCapital 1/60
EntrepreneurialCulture 1/60
Skills 2/60
NondigitalInfrastructure 4/60
Market 5/60
Mentoring 5/60
KnowledgeSpillovers 5/60
DigitalInfrastructure 42/60
BusinessEnvironment 45/60
Lifestyle 54/60
Rankingisoutof60,with1/60thebestresultand60/60theworstresult.Source:Nesta
StartupsinLondonthatarelookingtohirehaveaccesstoasignificantpoolofuniversitygraduateswithstrongskills.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
Figure6.NotableLondonStartups,byCapitalRaised(EURMil.)
Source:EuropeanDigitalForum/Nesta
Retail-FocusedAcceleratorsinLondonFungGlobalRetail&TechnologycollaborateswithretailandtechnologyacceleratorsinLondon,includingJLABandTrueStart,inordertomonitortheinnovativesolutionsdevelopedbyparticipantsintheirstartupprograms.Below,weprofilethesetworetail-focusedacceleratorsandsomeoftherecentgraduatesoftheirprograms.
Source:Shutterstock
68.1
108.5
133.8
135.8
165.5
284.1
442.8
Made.com
TransferWise
Shazam
Wonga
Borro
Farfetch
Deliveroo
FungGlobalRetail&TechnologycollaborateswithretailandtechnologyacceleratorsinLondoninordertomonitortheinnovativesolutionsdevelopedbyparticipantsintheirstartupprograms.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
JLAB
JLABisaretail-focusedacceleratorfoundedin2014byBritishretailerJohnLewis.TheJLABprogramisdesignedtofast-trackthegrowthofstartupcompaniesintheretailspace.
Figure7.JLAB
Source:JLAB.co.uk
Eachyear,JLABacceptsfivestartupstoparticipateina12-weekprogram.Thestartupsreceivesupportintheformof:
• ProductvalidationfromJohnLewis’sexpertsandfromconsumers
• MentorshipfromJohnLewis’sseniorleaders
• InvestmentfromtheJLABMicro-Fund
• Accesstoanetworkofexternalmentorswithretailexpertise
• FreeofficespaceinJohnLewis’sLondonheadquarters
• Afirst-classeducationprogrambasedontheDisciplinedEntrepreneurshipmethodfromtheMassachusettsInstituteofTechnology(MIT)
EachJLABstartupiseligibleforaninvestmentofupto£100,000(€117,077)fromamicro-fundattachedtotheprograminexchangeforequityinthecompany.ThestartupsthatparticipatedintheJLAB2016programincludedDigitalBridge,DingLabs,LinkBig,RoboticalandWeddingPlanner,whichwedetailbelow.
JLABisaretail-focusedacceleratorfoundedin2014byBritishretailerJohnLewis.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
DigitalBridge:DigitalBridgeoffersaplatformthatallowsausertotakeaphotoofaroomwiththeirphoneortabletthatcanthenbeusedtovisualizehowtheroommightberedecorated.Thesolutionautomaticallyrecognizeswalls,floors,ceilings,objectsandlightingconditionsintheroom,allowingtheusertoseehowitmightlookwithdifferentwallpaper,carpet,paint,artwork,furnitureandfixtures.
Figure8.DigitalBridge
Source:DigitalBridge.eu
DingLabs:DingLabsoffersasmartdoorbellthatenablesahomeownertotalkwiththepersonatthedoorfromwhereverthehomeownerisintheworld.Thedoorbellismadeupoftwoparts,asubtledoorbellbuttonthatsitsnearthedoorandadoorbellchimethatsitsinthehome.Thechimealertsthehomeownerbothathomeandbyphone,allowinghimorhertotalkwiththepersonatthefrontdoorfromaremotelocation.
Figure9.DingLabs
Source:DingProducts.com
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
LinkBig:LinkBigenablescompaniesonInstagramtosellproductsdirectlyfromtheirInstagramprofile.LinkBig’ssmartlinkleadsthecompany’sfollowersonInstagramtothetransactionalwebsitethatsellsthespecificproducttheyareadvertisinginaparticularpost,therebydrivingtrafficandsales.
Figure10.LinkBig
Source:Link-Big.com
Robotical:RoboticalisthemanufacturerofMarty,afullyprogrammable,wifi-enabled,walkingrobotthatfeaturesexpressiveeyeswithmovingeyebrows.
Martyisdesignedtobeanengagingwaytolearnaboutallaspectsofrobotics,includingprogramming,mechanicalengineering,electronicsandsensors.Therobotpartscanbe3D-printed,anduserswillbeencouragedtomodifythedesignsandsharewhattheymakewitheachotherthroughtheRoboticalAppStore.
Figure11.Robotical
Source:Robotical
LinkBigenablescompaniesonInstagramtosellproductsdirectlyfromtheirprofile.
RoboticalisthemanufacturerofMarty,afullyprogrammable,wifi-enabled,walkingrobotthatfeaturesexpressiveeyeswithmovingeyebrows.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
WeddingPlanner:WeddingPlannerisanonlinewedding-planningplatformthathelpscouplesorganizetheirweddingbyprovidingfreeplanningtoolsalongsideintegratedsupplierrecommendationsandinspirationalideas.Throughtheportal,userscanviewsuppliers’pricesandavailability,alongwithreviewsandsmartrecommendations.
Figure12.WeddingPlanner
Source:WeddingPlanner.co.uk
TrueStart
TrueStartisanacceleratorthatfocusesonstartupsthatcreateretail,e-commerceandin-storetechnologies.TheacceleratorisasubsidiaryofTrueCapital,aprivateequityandVCfirmspecializinginseed-stagestartups.
Figure13.TrueStart
Source:TrueStart.co.uk
ParticipatingstartupsinTrueStart’sprogramreceivesupportintheformof:
• Seedfunding
• Accesstotheteam’sglobalretailandconsumernetworks
• Mentorship
• Legalandaccountingservices
• Officespace
TrueStartisanacceleratorthatfocusesonstartupsthatcreateretail,e-commerceandin-storetechnologies.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
TheTrueStartprogramrunstwiceayear,andinvestmentsrangefrom£0to£50,000(€58,538).Inexchangefora£25,000(€29,269)investment,TrueStartasksfora4.5%equitystakeinastartup.Inexchangefora£50,000investment,itasksfora9%stake.Theacceleratoralsorunsayear-roundseedprogramthroughwhichitinvestsupto£750,000(€878,076)invariouscompanies.ExamplesofstartupscurrentlyparticipatingintheTrueStartprogramincludeBlockverifyandQuikkly.
Blockverify:Blockverifyusesblockchaintechnologytotrackproductsthroughoutthesupplychain.Thetechnologyassignsauniquecodetoaproduct,whichcanbetrackedonaregisterandmonitoredatallstages,fromproductiontotheendconsumer.Thisenablestheidentificationofdivertedproducts,stolenmerchandise,fraudulenttransactionsandcounterfeitgoods.Blockverifyisusedtomanagethesupplychainofhigh-valueitems,includingpharmaceuticals,luxurygoods,diamondsandelectronics.
Figure14.Blockverify
Source:Blockverify.io
Blockverifyusesblockchaintechnologytotrackproductsthroughoutthesupplychain.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
Quikkly:Quikklymakesasmartphone-scannablebarcodecalledQuikklyTagthatenablesshopperstolanddirectlyonthetransactionalwebpageforthespecificproductassociatedwiththebarcode.QuikklyTagcanbedisplayedin-storeincloseproximitytoanitemoronabillboardad.
Figure15.Quikkly
Source:QuikklyTags.com
OtherstartupsparticipatingintheTrueStartprogramincludeInduo,whichweprofiledinourreportProfilingInduo,OfferingWater-RepellentCotton.
Figure16:Induo
Source:Induo
London-BasedAcceleratorsandIncubatorsJLABandTrueStartaretwoexamplesofretail-focusedacceleratorsbasedinLondon.Below,weprovidealistofotherLondonacceleratorsandthenalistofLondonincubators.Acceleratorsandincubatorsofferdifferenttypesofsupporttostartups,whichwedescribeinmoredepthinourreportAccelerators&IncubatorsinLondon.
OtherstartupsparticipatingintheTrueStartprogramincludeInduo.
Acceleratorsandincubatorsofferdifferenttypesofsupporttostartups.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
Figure17.LondonAccelerators
Name URL BriefDescription
Accelerator http://accelerator-london.com/ LondonMetropolitanUniversity’saccelerator,focusedoninformationandcommunicationtechnologyanddigitalmedia
AllianzX https://www.allianzx.com/ Buildsinsurancetechnologycompaniesandhelpsthemgrow
AngelsCube http://angelscube.com/ Investment-ledacceleratorhelpingfoundersbuildsuccessfulbusinesses
BarclaysAccelerator http://www.barclaysaccelerator.com Fintech-focusedaccelerator
BBCWorldwideLabs http://www.bbcwlabs.com/ TheBBC’sworldwidedigitalmediastartupaccelerator
BethnalGreenVentures https://bethnalgreenventures.com/ Anacceleratorprogramthatinvestsinandsupportsnewideastohelpbuildsolutionstosocialandenvironmentalproblems
CapitalOneGrowthLabs http://www.capitalonegrowthlabs.co.uk/
HelpsfintechstartupsgetaccesstoCapitalOne’sexpertiseandcapabilitiestodevelopandtesttheirinnovations
Climate-KICAccelerator http://www.climate-kic.org/for-entrepreneurs/accelerator/
TheonlyEUaccelerationprogramfocusedonclimateimpactbycleantechcommercialization
Collider http://collider.io Dedicatedtomarketingandadvertisingstartups
CyLon https://cylonlab.com/ Europe’sfirstcybersecurityaccelerator
EdtechUK http://www.edtechuk.com/ AcceleratorfocusedontheUK’sedtechsector
EmergeEducation http://emerge.education/ Edtech-focusedacceleratorforstartupsaimingtoimproveeducationaloutcomesworldwide
EntrepreneurFirst https://www.joinef.com/ Supportsengineersandcomputerscientistswhoarebuildingworld-classtechcompaniesfromscratch
FintechInnovationLab:London
http://www.fintechinnovationlablondon.co.uk
Launchedin2012,thefirstfintechacceleratorinLondon;focusedonbankingandinsurancetechnologycompanies
InnovationLab2016 http://bmwinnovationlab.co.uk/ BMWGroupFinancialServices’startupaccelerator
InnovationWarehouse http://www.innovationwarehouse.org/accelerator/
Communityforentrepreneursinvolvedinhigh-growthandhigh-impactstartupbusinesses
InnovifyVentures http://innovify.com/ventures/ Aprogramfortechstartupstosecureseedandangelfunding
LMarks http://www.lmarks.com/ Helpsbigbusinessesjointhestartuprevolutionandtapintothedisruptionhappeningintheirindustry
Level39 http://www.tech.london/incubators/level39
Europe’slargestacceleratorforfinanceandretailtechnologystartups
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Source:Tech.London
Name URL BriefDescription
MassChallengeUK http://masschallenge.org/programs/uk
Connectshigh-impact,early-stagestartupswithmentors,partnersandinvestors,whileprovidingfreesupportduringathree-monthacceleratorperiod
OxygenAccelerator http://www.oxygenaccelerator.com/ OneofEurope’smostwell-establishedtechaccelerators
RedBullAmplifier http://www.redbullamplifier.com Anovelacceleratorprogramformusicstartups
RiseLondon https://thinkrise.com/ WorksinpartnershipwithBarclaystoofferstartupsanexclusiveplacetodevelop,collaborate,scaleandinnovatetogether
Seedcamp http://seedcamp.com/ Europe’sleadingpre-seedandseed-stageaccelerationfund
StartupBootcampFinTechLondon
https://www.startupbootcamp.org/accelerator/fintech-london/
Anacceleratorfocusedonfinancialinnovation
TechstarsLondon http://www.techstars.com/programs/london-program/#1
TheTechstarsglobalecosystemempowersentrepreneurstobringnewtechnologiestomarket
TheAcceleratorfromtheYoungFoundation
http://www.growingsocialventures.org/
Enablessocialventurestoscaleuptheirimpactinasustainablemanner
TheBakery http://www.thebakery.com/#!/ Wherebrandsmeettechstartupstogetinnovativetechnologytomarketmorequickly
TheSandpit http://www.thesandpit.com/ Abusinessbuilderforstartupsfocusedonmarketingtechnology
Wayra https://wayra.co.uk/ Telefónica’sstartupaccelerator;helpsthebestentrepreneursgrowandbuildsuccessfulbusinesses
WellsFargoStartupAccelerator
https://accelerator.wellsfargo.com/ Ahands-onprogramdesignedtoadvancestartupsthatcreatesolutionsforenterprisecustomersinsideandoutsidethefinancialindustry
WintonLabs http://www.wintonlabs.com/ Acceleratorprogramfordata-sciencestartups
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Figure18.LondonIncubators
Source:Tech.London
Name URL BriefDescription
BreedReply http://www.reply.com/en/breed-reply/ AdvancedincubatorforstartupsfocusedontheInternetofThings(IoT)insectorssuchasfitnessandwellness,healthcare,smarthomes,manufacturing,transportation,andenergy
Cogniance http://cogniance.com/ Product-developmentpartnertoventure-backedstartups,corporateinnovationlabsandVCfirms
EcoMachinesVentures http://ecomachinesventures.com/ Incubatorfocusedonenergyandindustrialhigh-techcompanies
Healthbox http://www.healthbox.com/ Anincubatorfocussedonhealthcareinnovation.
ImpactHub http://kingscross.impacthub.net/ Aninnovationlab,businessiIncubatorandsocialenterprisecommunitycenter.
Launch22 http://www.launch22.co.uk/london-home
Launch22Pprovideson-demandmentoring,low-costworkspaceandaccesstofinancetoearly-stageentrepreneurs.
LondonBioScienceInnovationCentre
http://www.lbic.com/ LondonBioScienceInnovationCentreisAahubprovidinglaboratoryandofficefacilitiesforbiotechstartupsbasedinCentralLondon.
LondonCityIncubator http://www.city.ac.uk/business-services/research-and-consultancy
Helpsearly-stage,high-growthstartupbusinessesprepareforinvestment.
MeWwe360ºIncubator http://www.mewe360.com/incubator-2/
Abusinessincubatorandventurefundforentrepreneursinthecreativeindustries.
Project42 http://p42.vc/ London-basedhardwareincubator.
RedBullAmplifier http://www.redbullamplifier.com/ Anovelacceleratorprogrammeprogramformusicstartups.
SussexInnovationCentreroydon
http://www.sinc.co.uk/sussex-innovation-croydon
UniversityofSussexincubatorfocussedonsupportingdigital,techandcreativestartupsinCroydon.
TheImperialIncubator http://www.imperialinnovations.co.uk/technology-transfer/incubator/
ImperialCollegeLondon’sstartupincubator.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
KeyTakeawaysLondonisaleadingstartuphubgloballyandthetopEuropeancenterforstartupdevelopment.ThecityrankssixthinStartupCompass’s2015GlobalStartupEcosystemRankingandfirstinNesta’sEuropeanDigitalCityIndex2016.
StartupsinLondonattractmoreinvestmentandgenerategreaterrevenuethanstartupsbasedinotherEuropeancitiesdo.ThemainfactorsthatmakeLondonaleadingstartuphubinclude:
• Thestrongpresenceofanumberofindustries:Inparticular,thecity’slargefinancialandcreativesectorshelpstartupsaccessfundingandnetworkingopportunities.
• Thepresenceofworld-classuniversitiesandafavorableregulatoryenvironment:StartupsinLondonbenefitfromtheskillsandknow-howprovidedbytopuniversitiesandtheirgraduates,aswellasfromLondon’s(andtheUK’s)business-friendlyregulations.
• Accesstomarketsandfactorsthatencourageperformance:Londonstartupshavebetteraccesstoalargedomesticmarketandtointernationalmarketsthanstartupsinmanyothercitiesdo,andhowtheyshowfastergrowthcomparedwithcompaniesbasedelsewhere.
• Excellentnondigitalinfrastructureandanentrepreneurialculture:Londonhasexcellentairportandtrainconnectivity,andastrongtrackrecordofsuccessfulstartups,asidentifiedbytheEuropeanDigitalCityIndex2016.TheindexalsoidentifiesaccesstocapitalandskillsastwofavorablefactorsthatmakeLondonaleadingstartuphub.
Source:Shutterstock
LondonisaleadingstartuphubgloballyandthetopEuropeancenterforstartupdevelopment.
Londonhasexcellentairportandtrainconnectivity,andastrongtrackrecordofsuccessfulstartup.
21
December23,2016
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2016TheFungGroup.Allrightsreserved.
DeborahWeinswig,CPAManagingDirectorFungGlobalRetail&TechnologyNewYork:917.655.6790HongKong:852.6119.1779China:86.186.1420.3016deborahweinswig@fung1937.comJohnMercerSeniorAnalyst
FilippoBattainiResearchAssociate
HongKong:8thFloor,LiFungTower888CheungShaWanRoad,KowloonHongKongTel:85223004406London:242-246MaryleboneRoadLondon,NW16JQUnitedKingdomTel:44(0)2076168988NewYork:1359Broadway,9thFloorNewYork,NY10018Tel:6468397017
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