Entrepreneur launches tech venture community with £100m funding goal
Tech companies across South Yorkshire will benefit from Venture.Community, an industry network with start-up and scale-up acceleration, launched as part of UK Tech Week in Sheffield.
Venture.Community aims to advance the development of hundreds of tech companies and help start-ups in South Yorkshire secure £100m in venture funding over the next five years.
It is the brainchild of tech entrepreneur Peter Hopton, the founder of data centre cooling company Icetope and VeryPC, which provides sustainable computers and IT systems to schools and businesses globally.
Iceoptope has raised over £58m in venture funding since its formation.
Instead of a traditional accelerator that limits both the duration of support and the number of participants supported, Venture.Community will provide resources and a rolling program of education and events open to any founder who wants to access them.
Start-ups with the most potential will receive mentorship from experienced founders in the community and support achieving specific outcomes, such as funding.
The network’s concept has been developed over the last two years through mentorships focused on supporting strategy, fundraising and executive team building with five start-ups, including Productive Machines, BOW and TUBR, which raised more than £5m in funding between them in the period.
Venture.Community has so far established a community of more than 175 tech founders through a dedicated events arm led by Nick Dytczak Midworth.
It aims to become self-sustaining through supporters, partners, sponsorships and success fees. It has curated a roster of venture capital and service provider partners with a proven track record of helping tech start-ups achieve their goals.
They include Squire Patton Boggs, Fuel Ventures, SFC Capital, EHE, Finance Yorkshire, Anticus Partners, AngelGroups, Medici Global Ventures, UK Business Angels Association, Sedulo, Creative Space Management, Roaring Mouse Public Relations, British Blockchain & Frontier Technologies Association, Pinpoint Ventures and Mantra Media.
Hopton said: “This is a new approach to tech acceleration that is scalable, sustainable and open to all ventures and venturers.
“Sheffield and South Yorkshire is the UK’s secret start-up capital and probably the most collaborative tech ecosystem on the planet. This is the perfect place to pilot Venture.Community.
“Tech founders frequently swim in a sea of sharks, so we are providing safe harbour, an inclusive community where founders support founders and entrepreneurs can connect with trusted experts that provide genuine, meaningful support.”
