Tech leaders encourage entrepreneurs and investors to embrace boldness

In a powerful panel discussion at the Rainmakers conference, highlighting the UK tech ecosystem’s potential, industry leaders called for a more confident approach to innovation, challenging a traditional northern reticence to celebrate success.

KPMG Acceleris’s Patrick Molyneux set the tone, urging tech businesses and investors in the regions to stop being overly modest and start championing its technological achievements.

This rallying cry encapsulated the core message: the North has immense untapped potential in the tech sector.

Despite persistent challenges in venture capital funding, the panel painted an optimistic picture of opportunities for tech entrepreneurs.

David Richards, a Silicon Valley veteran turned investor, emphasised that geographical limitations are increasingly irrelevant. “It’s now feasible to create huge successful businesses right here in the North of England,” he declared.

Ably chaired by Anna Cooper, the discussion candidly addressed the funding landscape’s current disparities. With only 15% of UK angel investors being women – compared to 46.7% in the US – there’s significant room for improvement.

Helen Oldham from an angel investment group highlighted this gap, actively encouraging professional women to consider angel investing, with investment tickets starting as low as £2,000. AI emerged as a transformative force, with experts suggesting it’s not just about technological prowess but deep domain expertise.

Richards also noted that the real value lies in “deep domain industry expertise and having data sets” – areas where northern companies excel.

Kit Muir-Rogers, a Manchester-based tech founder of GigPig, which links venues with musicians and artists, shared a compelling narrative of persistence. In raising funding for the business, he navigated challenging funding landscapes by bootstrapping, securing significant client wins, and carefully selecting investor partnerships that offered genuine support beyond capital.

The panel unanimously agreed that the startup ecosystem requires more than just financial investment. Steve Purdham, who built one of the North’s first tech unicorns SurfControl, stressed the importance of investing in people, technology, and opportunities, rather than getting bogged down in restrictive term sheets.

Critically, the discussion challenged the narrative of a North-South divide. The message was clear: geographical location is no longer a barrier to global success.

With the right support, networks, and attitude, northern tech companies can compete on the world stage.

In summary, key recommendations emerged for entrepreneurs and investors alike: Celebrate regional successes boldly; Support founders through comprehensive networks; Encourage more diverse investment, particularly from women; Focus on deep industry knowledge and data expertise; Embrace AI as a transformative tool, not just a technology.

As Patrick Molyneux noted, the ingredients for success are present.

There are signs that the tech ecosystems of the North are thriving, with initiatives like the Founder Hub and increasing investor engagement signalling a promising future, despite obvious challenges.

The panel’s collective wisdom suggests that the North’s tech scene is not just catching up – it’s preparing to lead. By breaking down traditional barriers and embracing a more confident, collaborative approach, northern tech entrepreneurs can transform potential into global success.