Business Rocks 2017 cancelled
Manchester technology festival Business Rocks has been cancelled after just two years, with organisers blaming a lack of commitment from sponsors and speakers.
Described as a global tech and investment summit brought to life by music, the event was due to take place at Manchester central on May 3 and 4 but now the company behind the festival, Business Rocks (UK) Ltd, is being placed into liquidation.
Organisers, who had wanted to emulate the success of South by Southwest in Texas or Dublin’s Web Summit, said that despite having received assurances from key sponsors and keynote speakers, too few had confirmed their commitment ahead of the event.
Jonny Cadden, founder of Business Rocks, hinted to TheBusinessDesk at last year’s event that 2016 sponsor Virgin could become more involved this year, and even suggested that the company’s high profile boss Richard Branson could make an appearance.
Cadden said: “I have put my everything into this vision for the last three years but regrettably have had to accept that my everything is not going to be enough, on this occasion.
“I would like to say a huge thank you to those people who have supported and helped me over the past three years. I am eternally grateful to each of you.”
Cadden is the former managing director of Fluid, a Manchester-based recruitment and executive search agency, which he founded in 2006. Although he retained his stake in the business, Cadden relinquished his directorship to concentrate on building the Business Rocks brand.
Last year’s festival, which cost £600,000 to stage, was hailed a success as it attracted more than 5,000 delegates.
It was standing room only for those who squeezed into the main auditorium on the first day to hear keynote speaker Apple co-founder Steve Wozniak, who is understood cost organisers £120,000.
Scott Fletcher MBE, the chairman and founder of cloud and managed services provider ANS, made a £250,000 investment in the Business Rocks festival before last year’s event to become a major shareholder.
Fletcher told TheBusinessDesk that he had lost money on the venture, adding: “This time last year, Jonny came to me and asked me to rescue the event – he had Steve (Wozniak) coming over and had booked the venue. I did that – it was a real risk but the right thing for Manchester.
“I don’t want an events business and wasn’t willing to do that again. He’s had loads of offers of investment that haven’t come through… even a few weeks ago there were potential sponsors who said they would support it but have gone silent.
“These events can be very successful but to have carried on I think it would have needed another £200,000 investment at least.”
Fletcher suggested the event had perhaps tried to grow too quickly, following its first year in 2015, when the event was hosted at UKFast’s campus, but said he expected to see Cadden bouncing back with a new project soon.
“Jonny is a ball of energy and is thick skinned, it’s not the last we’ve heard of him I’m sure,” he said.
