Having been launched in April 2013 by chancellor George Osborne and
Joanna Shields, CEO of Tech City UK, the Future Fifty initiative has announced its first list of companies.
The programme, which is looking to connect high-growth businesses with tools needed to secure an initial public offering (IPO), is drawing on companies in the financial services, leisure and consumer goods spaces.
The first 25 companies have been named, including: cloud content service Huddle;online fashion brand and shopping site Farfetch; furniture retailer MADE.com; peer-to-peer lender Zopa and travel search company Skyscanner.
Future Fifty’s selection process was led by an advisory panel of 13 individuals in the venture capital, growth capital, law, accountancy and communication fields. Serial investors such as Robin Klein of Index Ventures, Business Growth Fund CEO Stephen Welton and Tim Bunting of Balderton Capital contributed.
The initiative follows on from new reforms brought in by The London Stock Exchange and the government back in February 2013 which provided an easier, and less onerous, route to the capital markets.
Shields, who was former head of Europe for social media business Facebook, comments, ‘The Future Fifty programme will help the most promising companies make the UK their home and solidify London as the world’s digital capital – the most attractive destination for entrepreneurs, start-ups and their investors.’ Read more…
London’s Tech City picks first 25 firms for help to grow http://t.co/aoVxTJbQl2 via @reuters
— Will Corry (@slievemore) October 17, 2013