Connect with us

Top Stories

VOTING BEGINS TO FIND THE 2016 GROWTH CHAMPION OF THE YEAR

Published

on

VOTING BEGINS TO FIND THE 2016 GROWTH CHAMPION OF THE YEAR
  • Public vote to crown the inaugural Growth Champion of the Year, supported by Smith & Williamson, now live at com
  • Eight outstanding growth companies are competing to determine the overall winner, to be announced at the Growth Investor Awards on 3 November 2016
  • Visitcomto view the finalists in all Growth Investor award categories

Eight outstanding UK high growth companies are now going head to head to determine which will be crowned 2016 Growth Champion of the Year, supported by Smith & Williamson. The winner will be announced at the Growth Investor Awards black tie dinner on Thursday 3 November at the Marriott Grosvenor Square Hotel in Mayfair, London. Visit growthinvestorawards.com for information on attending the event.

The Growth Champion of the Year award recognises top performing small and medium-sized enterprises (SMEs) that have best optimised Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS) or Venture Capital Trust (VCT) funding to scale up their businesses. The public vote will count for one-fifth of the overall tally for each finalist, after which five judges will reach a decision based on a number of growth metrics (including revenues, job creation, and regional/international expansion) to determine the outright winner.

Guy Rigby, Head of Entrepreneurial Services at Smith & Williamson – sponsor of Growth Champion of the Year – commented: “It is in the interests of government to make Britain a hotbed for innovation, entrepreneurship and business growth. Tax incentives like EIS are therefore vital for businesses seeking the growth capital needed to scale. We are delighted to sponsor this new Growth Champion of the Year award because it demonstrates how this type of investment is being optimised to move Britain forward.”

Simon Devonshire OBE, Entrepreneur in Residence at Business, Energy and Industrial Strategy: “We’re asking the public to join us in celebrating the success of companies that have used growth capital in the best ways possible, with the aspirations to scale up their business, expand their market share, deliver economic benefits to their region or local community and even to fund international expansion.”

Michael Hayman MBE, Co-founder of Seven Hills and StartUp Britain, comments: “These companies have created jobs, generated tax revenue and helped drive Britain’s economic recovery. They’ve also been a catalyst for a regional revival, fostering growth across the UK.”

Guy Tolhurst, Managing Director of Intelligent Partnership, organiser of the Growth Investor Awards, said: “It’s crunch time. Out of 30 initial entries, we are now down to just eight. We’ve opened up this award to an online vote, and there are some well-known brands on this list that will resonate with many people. We hope voters will give every finalist due consideration, and vote for those companies that best meet the criteria. These are all exceptional growth businesses with great stories to tell.” 

Between them the eight finalists have received over £120 million of venture capital, with an average investment of just under £17.5 million. Together, they employ over 2,800 people and are expected to achieve turnover in excess of £310 million this year. Half of the finalists are already expanding overseas, three of them are located outside London, and the sectors they work in range from Food & Drink, to Media, Technology and general business enterprises. You can find out more about the eight finalists on the next page, and you can view exclusive interviews with founders and senior management of each company at growinvestorawards.com.

Car Wow: changing the way consumers purchase new cars
Launched in 2013, Car Wow acts as a marketplace in which users can compare prices from car dealerships all around the UK. The team has grown from 15 at the start of 2015 to over 80 now, working from central London offices. The site now receives 2 million monthly unique visitors. In March, the company launched into Germany and plans to expand into other territories over the next three years. Having massed one million users in just three years, carwow hopes to hit 2 million users by mid-2017.

Darwin & Wallace: bringing style and glamour to London pubs and bars

Darwin & Wallace was founded in 2012 with the vision of developing contemporary bar restaurants in affluent London “villages” and to date has raised £7 million of funding via the EIS. It has made a significant contribution to the economy through employs some 175 staff. Recent openings, in Clapham, Richmond and Chiswick have had an enormous positive impact on their local communities. Its strategy is to expand the brand to further sites in Greater London, and in time, outside of the capital.

Eve Sleep: on a mission to become a global sleep brand
Eve Sleep launched its direct to consumer ‘mattress-in-a-box’ concept in February 2015. Initial seed invested enabled it the business to start with an ambitious performance marketing campaign and take that much needed ‘first mover advantage’. More importantly it gave the company the funds necessary to scale its performance marketing. Starting with four founders round a kitchen table, eve Sleep now has more than 50 staff and offices in London, San Francisco and Germany, France and the US, with further European expansion planned this year.

FlyVictor: the world’s largest on-demand marketplace for private jets
Founded in 2011, Victor has developed sophisticated technology to intelligently match end users with private jets 24/7 enabling transactions, settlement, and customer servicing. Victor has access to a global fleet of 7,000, and now has more than 60,000 registered users and employs 77 staff. Growth funding has helped the company further expand into North America, with the acquisition of a California-based broker and an East Coast presence, with offices in New York.

GO Outdoors: Sheffield-based retailer changing the market for outdoor clothing and equipment
GO Outdoors (GO) sells everything for the outdoors, from tents, camping and fishing equipment to climbing gear, running kit and ski wear. Originally starting life in 1998 as a single store in Sheffield, the initial growth investment helped fund a management buyout and further investments allowed it make acquisitions and to accelerate the number of stores in operation. GO now has 2,000 employees and operates from 57 stores across the UK, as well as operating a fast growing e-commerce website.

Gousto: a ‘recipe box’ company that is revolutionising the online grocery market
Gousto is leading the way in changing how we purchase, cook and eat food. From delivering to 12 customers a week in 2012, it is projected to deliver 2 million portions in the second half of 2016. Capital from multiple rounds of fundraising has supported continued growth of the business and each round of investment has had a huge impact on the fast pace of growth to date. Gousto currently employs over 150 people, and expects this to increase to 200 before 2017.

NotOnTheHighStreet: championing the best small creative businesses in the UK
From humble beginnings of two founders in 2006, Notonthehighstreet.com now employs over 200 people. The business received its first external investment from Spark Ventures a year after its inception, which accelerated the business through a significant investment in technology. This investment led to gross sales in 2014 reaching £127 million and delivering a compound growth rate of 135%. International expansion is the next initiative: in 2015, the company shipped to 154 countries.

Outplay Entertainment: developing high quality games for mobile devices
Outplay is an award-winning mobile game developer, but it was loss-making until it received venture capital finance in 2014, which enabled it to build crucial support capability in marketing and data driven insights into how play its games. Outplay’s growth has created many job opportunities. It has 133 employees in its Dundee studio, making it one of the largest mobile games studios in in Europe. Outplay currently has seven live games, and plans to release a further two games by the end of 2016.

Top Stories

Bitcoin, ether hit fresh highs

Published

on

Bitcoin, ether hit fresh highs 1

SINGAPORE (Reuters) – Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier.

The world’s most popular cryptocurrency rose to an record $56,620, taking its weekly gain to 18%. It has surged more than 92% this year.

Bitcoin’s gains have been fuelled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.

Ether, the second-largest cryptocurrency by market capitalization and daily volume, hit a record $2,040.62, for a weekly gain of about 12%.

Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the crypto world, the terms ether and ethereum have become interchangeable.

Ether futures contracts launched on derivatives exchange CME earlier this month.

(Reporting by Vidya Ranganathan; Editing by William Mallard)

Continue Reading

Top Stories

World Bank pushing for standard vaccine contracts, more disclosure from makers

Published

on

World Bank pushing for standard vaccine contracts, more disclosure from makers 2

By Andrea Shalal

WASHINGTON (Reuters) – The World Bank is working to standardize COVID-19 vaccine contracts that countries are signing with drug makers, and is pushing manufacturers to be more open about where doses are headed, as it races to get more vaccines to poor countries, the bank’s president said on Friday.

World Bank President David Malpass told Reuters he expected the bank’s board to have approved $1.6 billion in vaccine funding for 12 countries, including the Philippines, Bangladesh, Tunisia and Ethiopia, by the end of March, with 30 more to follow shortly thereafter.

The bank is working with local governments to identify and fill gaps in distribution capacity, after they purchase vaccines under a $12 billion World Bank program, and also to standardize the contracts they are signing with manufacturers, he said.

The bank’s International Finance Corp, its private financing arm, has $4 billion to invest in expanding existing production plants or building new ones, including in developed countries, but needs more data on where current production is headed, he said.

“We are eager to be investing in new capacity, but it’s hard to do because you don’t know how much of the existing capacity is already committed to the various off-takers,” Malpass said in an interview with Reuters. New or expanded plants could be used to produce other types of vaccinations in the future, he said.

The bank’s funds could be used to expand plants in advanced economies, if the production was earmarked for developing nations, he said.

Malpass welcomed Friday’s pledge by the Group of Seven rich countries to intensify cooperation on the pandemic, saying it could help jump-start deliveries of vaccines to poorer countries, which are lagging far behind rich countries in getting shots in arms.

Data compiled by Our World In Data, a scientific online publication, showed Israel was leading the world in COVID-19 vaccinations, with nearly 82 of 100 people vaccinated, while India and Bangladesh reported less than one person per 100, Many African countries have not started at all.

Malpass said he was heartened by news about new vaccines coming down the road, and about Pfizer Inc and BioNTech SE seeking permission to store their vaccine at higher temperatures, which would ease another obstacle to deliveries in lower-income countries.

(Reporting by Andrea Shalal; Editing by Heather Timmons and Leslie Adler)

Continue Reading

Top Stories

Google to evaluate executive performance on diversity, inclusion

Published

on

Google to evaluate executive performance on diversity, inclusion 3

By Paresh Dave

(Reuters) – Alphabet Inc’s Google will evaluate the performance of its vice presidents and above on team diversity and inclusion starting this year, the company said on Friday in one of several responses to concerns about its treatment of a Black scientist.

Timnit Gebru, co-leader of Google’s ethical artificial intelligence research team, said in December that Google abruptly fired her after she criticized its diversity efforts and threatened to resign.

Alphabet and Google Chief Executive Sundar Pichai ordered a review of the situation. While Google declined to share specific findings, the company announced on Friday it will engage human resources specialists during sensitive employee departures.

Pichai in June said that by 2025, Google aims to have 30% more of its leaders come from underrepresented groups, with a focus on Black, Latinx and Native American leaders in the United States and female technical leaders globally. About 96% of Google’s U.S. leaders at the time were white or Asian, and 73% globally were men.

As a result of the investigation, the company also expanded a commitment announced in June to devote more resources to retaining and promoting existing employees, including by expanding a team addressing disputes among workers and their managers.

The diversity component of executive performance reviews was not previously announced, and the company did not immediately share details about what would be measured and how pay would be affected.

Alphabet for years had rejected proposals from shareholders and employees to set diversity goals and tie executive pay to them.

Irene Knapp, a former Google employee who advocated for one such proposal at a 2018 shareholder meeting, said on Friday, “I am pleased that they met our demand from 2018, which was a bare minimum that should have been easy to do immediately.”

Evaluating managers on diversity goals is becoming more commonplace. McDonald’s Corp on Thursday tied executive bonuses to diversity.

(Reporting by Paresh Dave; Editing by Cynthia Osterman)

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Articles

FTSE Russell to include 11 stocks from China's STAR Market in global benchmarks 4 FTSE Russell to include 11 stocks from China's STAR Market in global benchmarks 5
Trading2 hours ago

FTSE Russell to include 11 stocks from China’s STAR Market in global benchmarks

SHANGHAI (Reuters) – Index provider FTSE Russell will add 11 stocks from China’s STAR Market to its global benchmarks, according...

Foxconn chairman says expects "limited impact" from chip shortage on clients 6 Foxconn chairman says expects "limited impact" from chip shortage on clients 7
Business2 hours ago

Foxconn chairman says expects “limited impact” from chip shortage on clients

TAIPEI (Reuters) – The chairman of Apple Inc supplier Foxconn said on Saturday he expects his company and its clients...

Bitcoin, ether hit fresh highs 8 Bitcoin, ether hit fresh highs 9
Top Stories2 hours ago

Bitcoin, ether hit fresh highs

SINGAPORE (Reuters) – Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its...

UK insurers estimate to pay up to 2.5 billion pounds for coronavirus claims 10 UK insurers estimate to pay up to 2.5 billion pounds for coronavirus claims 11
Trading2 hours ago

UK insurers estimate to pay up to 2.5 billion pounds for coronavirus claims

(Reuters) – The Association of British Insurers (ABI) said on Saturday insurers are likely to pay up to 2.5 billion...

Citigroup considering divestiture of some foreign consumer units - Bloomberg Law 12 Citigroup considering divestiture of some foreign consumer units - Bloomberg Law 13
Banking2 hours ago

Citigroup considering divestiture of some foreign consumer units – Bloomberg Law

(Reuters) – Citigroup Inc is considering divesting some international consumer units, Bloomberg Law reported on Friday, citing people familiar with...

World Bank pushing for standard vaccine contracts, more disclosure from makers 14 World Bank pushing for standard vaccine contracts, more disclosure from makers 15
Top Stories2 hours ago

World Bank pushing for standard vaccine contracts, more disclosure from makers

By Andrea Shalal WASHINGTON (Reuters) – The World Bank is working to standardize COVID-19 vaccine contracts that countries are signing...

Google to evaluate executive performance on diversity, inclusion 16 Google to evaluate executive performance on diversity, inclusion 17
Top Stories3 hours ago

Google to evaluate executive performance on diversity, inclusion

By Paresh Dave (Reuters) – Alphabet Inc’s Google will evaluate the performance of its vice presidents and above on team...

EU seeks alliance with U.S. on climate change, tech rules 18 EU seeks alliance with U.S. on climate change, tech rules 19
Business3 hours ago

EU seeks alliance with U.S. on climate change, tech rules

By Sabine Siebold and Kate Abnett BERLIN (Reuters) – Europe and the United States should join forces in the fight...

Oil extends losses as Texas prepares to ramp up output after freeze 20 Oil extends losses as Texas prepares to ramp up output after freeze 21
Trading3 hours ago

Oil extends losses as Texas prepares to ramp up output after freeze

By Devika Krishna Kumar NEW YORK (Reuters) – Oil prices fell for a second day on Friday, retreating further from...

Dollar edges lower as investors favor higher-risk currencies 22 Dollar edges lower as investors favor higher-risk currencies 23
Investing3 hours ago

Dollar edges lower as investors favor higher-risk currencies

By Stephen Culp NEW YORK (Reuters) – The dollar lost ground on Friday as market participants favored currencies associated with...

Newsletters with Secrets & Analysis. Subscribe Now