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Exposed: Tech City yet to deliver on promises made to Future Fifty winners

Sam Shead | Jan. 10, 2014
Tech City UK's heavily-PR'd Future Fifty programme that was set up to champion and support some of the UK's most promising technology companies and encourage them to list on UK markets is getting off to a slow start, Techworld can reveal.

Meanwhile, Huddle, a London-based cloud service with a collaboration and content management platform, said that the programme is yet to do much more than put Huddle in the spotlight a bit. Indeed, many of the companies on the Future Fifty list received more media attention after the PR-engine behind Tech City ramped up its efforts to plug the organisation's third anniversairy in December.

Huddle CEO Alastair Mitchell added that he was concerned that the programme will lose credibility if it starts supporting companies outside the UK and Europe, with one Huddle spokesperson adding that there were "a few raised eyebrows (in Tech City) by the appearance of non-European companies in the Future Fifty list." One such company that isn't technically headquartered in the UK but did make the list is Box - a possible rival to Huddle.

However, it's worth noting that Tech City UK said from the outset that companies with a significant UK presence, no matter where they are from, would be considered for the programme.

Tech City UK initially declined to comment on what support has been given to companies on the Future Fifty programme. However, it stressed that the Future Fifty team is in the process of conducting a needs assessment for all companies on the programme, which will determine what type of support each company will receive.

Following publication of this article, Philipp Stoeckl, Future Fifty programme lead at Tech City UK, said: "It's imperative we conduct proper needs assessments and find the best way to assist companies already achieving great success. It's our aim to conduct all needs assessments by the end of January.

"For many companies, though, the programme is well underway. Several have already been connected with programme partners and have received support on complex issues such as intellectual property, tax, immigration, accessing growth capital and capital markets, and property. Furthermore, a number have recently participated in overseas business delegations to China and India with the Prime Minister."

 

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