The UK start-up scene trend seems to be:
Try to start-up an Internet business in the UK, become disheartened with the lack of support, resources, funding, cost of living, and move out to Silicon Valley where the environment is so much more positive and the support unlimited in comparison, get funding and live the dream!
It’s very tempting and I’ve been on the fringe of this trend before.
Back in Nov 06, I was involved with an Entrepreneurship programme in Milton Keynes, UK and mentored one of the business start-ups; boso.com. for a VC pitching competition, funded by the Govt. I provided some advice in terms of their business plan and pitching to VCs and Angels for funding, mind you my job was easy as that person happened to be a Cambridge Judge MBA grad! Boso.com won the pitching event which was very Dragon’s Den like, in front of a panel of judges that included Peter Jones and a live audience of ~200 people! Today Boso.com is still going strong (phew!) and interestingly one of their founders is now doing very well out in California (he got frustrated with the UK), and is steaming ahead with his second start-up. Funnily enough he wrote a short series of articles for the BBC on this – read it here.
What I want to know is, the Brits that make it out in California, will they come to the UK with their millions and invest in Entrepreneurship here? Or perhaps the weather is just too good over on the west coast!