Interesting news from ‘tech city’, which has always seemed a bit of a political bun fight loaded with tons of conflicting interests. While the headline seems to overplay the demise of Quango, its future seems like it’s at the very least, in question.
Tech City UK’s remit has crossed over many other public organisations leading to quiet grumbles from behind the corridors of power.
Despite having a relatively small budget (for instance, less than 0.4% of the Technology Strategy Board’s whopping £440m annual budget), their annual reports have been criticised for claiming credit for things that also come under the remit of other bodies including the Mayor’s office, local councils in the area and private sector led initiatives.
While the article mentions that Joanna Shields stepped down as CEO, it doesn’t mention (but does elsewhere on the site) that she, "will continue in her unpaid roles of Chairperson at the organisation and Business Ambassador for digital industries."
via Exclusive: Is this the end for Tech City London? – Tech City News | Tech City News.
I shared a story yesterday about the Euro ad tech scene. It’s definitely hotter than I’ve ever seen but with AppNexus’s snapping up of Alenty, I think the message is now being broadcast loud and clear: Not all innovation is coming out of the Valley or NYC.
At the AppNexus summit this week there were, of course, the familiar sponsor logos of Microsoft, Oracle, Millennial, and Peer39. However, there were also quite a few small, new, European startups. They came from the UK, France, Netherlands, and elsewhere. Companies like Grapeshot, FlxOne, Wywy, Adomik had a strong showing and I think raised the EU tech flag in a very visible and encouraging way.
The work I’m doing with AtlanticLeap aims to support these fast-growing companies as they look west to expand into the biggest ad market in the world, the US. Historically, the story has always been that there’s a sluggish pace of innovation and venture cash in Europe. That seems to be changing lately and the AppNexus acquisition of French tech company Alenty is certainly feeding the speed of that change.
I’ve been very impressed with the number of European companies that have been innovating and pushing the limits without huge amounts of funding. The model where you have to raise tens of millions to prove out an idea isn’t the only way to innovate. Our partnership and acquisition of Alenty is an interesting model for the future, where entrepreneurs are rewarded for creating real value, even if it’s not the entire value chain. Brian O’Kelley, CEO AppNexus
via AppNexus Tries M&A, Mulls 2015 IPO | AdExchanger.
There’s been quite a bit of activity in the EU ad tech space lately. Alenty getting acquired by AppNexus is the latest EU startup getting rolled into a US giant. While Europe isn’t often thought of as a hotbed of start ups and VC, that is, in some spaces, starting to change.
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The Future of Raising Angel & Venture Capital Funding Tickets, London – Eventbrite.