Monthly Archives

December 2016

Long on vision, short on execution?

By | Startup general interest | One Comment

magic-leap-whale-bs

I love the idea of Magic Leap and wish them every success in the world. Who wouldn’t want to see whales leaping out of floors like the one in the picture above?

I also don’t have any inside information about how they’re doing. But I have noted that some in the press are questioning their prospects, alleging that their videos are in effect fakes (including the one from which the still above was taken).

One of the articles I read, finished with a list of tell-tale signs that indicate a company is long on vision, but short on execution (or in this case real tech):

  • Refusing to give a launch date.
  • Refusing to talk about the tech, claiming confidentiality or trade secrets.
  • Using news of investments or hires as evidence of technological progress.
  • Promoting itself on a big stage rather than in a small room.
  • Offering a well-crafted message and vision but becoming immediately vague when pushed on actual details.
  • Offering “exclusive access” – with restrictions.
  • Confusing working hard with making progress.

I offer this list up because some of you will be writing investment decks over the holidays to start fundraising in the New Year and if that’s you, these are mistakes you want to avoid making. At the early stages at which Forward Partners invest, the most common mistakes on this list are being strong on the vision but weak on the details (particularly the short term plan) and assuming time spent on a project equates with progress.

In essence, make sure that when preparing to pitch for funding you have an inspiring big vision, but also ensure the picture you paint is underpinned with a strong plan for execution.

UK: Tech talent remains

By | Startup general interest | No Comments

screen-shot-2016-12-06-at-12-57-05

This is a chart from Atomico’s 2016 State of the Nation report. As a UK investor and citizen it’s pleasing to see that we’re the top destination for tech industry migrants by quite some distance.

What’s interesting is that this is a self-reinforcing metric. As noted elsewhere in the report, when people move country to start their company, access to talent is their primary consideration. More talent, therefore, will attract more founders, who will in turn attract more founders.

The UK has always been a very open country, and immigration from the US and India (two countries with whom we have strong historical ties) are a big driver of this statistic – although we are also the top destination for intra European tech migrants too.

We built this success story in the pre-Brexit era. Our challenge now is to maintain it post-Brexit.