No.10 Downing Street opens its doors to start-ups for first time

Comes a week after Techworld revealed government is pulling £50m Tech City fund

Prime minister David Cameron invited young technology companies to pitch at No. 10 Downing Street for the first time ever yesterday in a move that suggests the politician is keen to be seen supporting the tech start-up community.

At the Pitch10 event, 10 high-growth start-ups, largely in fintech or security, pitched their businesses to an audience of 70 venture capitalists, angel investors and invited guests. Digital minister Ed Vaizey and the newly appointed tech advisor to the PM, Joanna Shields also attended alongside Cameron.

Those invited to pitch included: Certivox, Digital Shadows, DueDil, Huddle, Kykcloud, LumeJetMimecast, ROLI, Swiftkey and Transferwise.

While the event makes it seem like David Cameron is getting behind start-ups by inviting them into his home, it's worth noting that the PM failed to spend the £50 million he promised London's Tech City community at the end of 2012, as revealed by Techworld last week.

Furthermore, the Tech City UK organisation - set up to support digital start-ups and chaired by Shields - is only funded with £1.7 million of public money, while quangos like the Technology Strategy Board receive half a billion pounds of taxpayer's money.

Downing Street described Pitch10 as an event for digital companies to showcase their technology.

It's not clear whether any of the financiers in the audience will actually be making any investments and it's fairly likely that most of them will already be familiar with the companies that presented.

A programme of the evening's agenda can be found here.

The event was spearheaded by two high profile figures within the tech community: Passion Capital investor Eileen Burbidge and TechStars founder and CEO Jon Bradford.

It was revealed that over 600 people were invited to attend Pitch10, after an aid at No. 10 accidentally Cc'd instead of Bcc'd those invited.

Techworld asked the prime minister's office for an invite to the event but a spokesperson said media weren't invited.

Join the CSO newsletter!

Error: Please check your email address.

Tags business issuesTech City UKappssecurityfinancestart-upsindustry verticalsTechnology Strategy Board

More about Technology

Show Comments

Featured Whitepapers

Editor's Recommendations

Solution Centres

Stories by Sam Shead

Latest Videos

  • 150x50

    CSO Webinar: Will your data protection strategy be enough when disaster strikes?

    Speakers: - Paul O’Connor, Engagement leader - Performance Audit Group, Victorian Auditor-General’s Office (VAGO) - Nigel Phair, Managing Director, Centre for Internet Safety - Joshua Stenhouse, Technical Evangelist, Zerto - Anthony Caruana, CSO MC & Moderator

    Play Video

  • 150x50

    CSO Webinar: The Human Factor - Your people are your biggest security weakness

    ​Speakers: David Lacey, Researcher and former CISO Royal Mail David Turner - Global Risk Management Expert Mark Guntrip - Group Manager, Email Protection, Proofpoint

    Play Video

  • 150x50

    CSO Webinar: Current ransomware defences are failing – but machine learning can drive a more proactive solution

    Speakers • Ty Miller, Director, Threat Intelligence • Mark Gregory, Leader, Network Engineering Research Group, RMIT • Jeff Lanza, Retired FBI Agent (USA) • Andy Solterbeck, VP Asia Pacific, Cylance • David Braue, CSO MC/Moderator What to expect: ​Hear from industry experts on the local and global ransomware threat landscape. Explore a new approach to dealing with ransomware using machine-learning techniques and by thinking about the problem in a fundamentally different way. Apply techniques for gathering insight into ransomware behaviour and find out what elements must go into a truly effective ransomware defence. Get a first-hand look at how ransomware actually works in practice, and how machine-learning techniques can pick up on its activities long before your employees do.

    Play Video

  • 150x50

    CSO Webinar: Get real about metadata to avoid a false sense of security

    Speakers: • Anthony Caruana – CSO MC and moderator • Ian Farquhar, Worldwide Virtual Security Team Lead, Gigamon • John Lindsay, Former CTO, iiNet • Skeeve Stevens, Futurist, Future Sumo • David Vaile - Vice chair of APF, Co-Convenor of the Cyberspace Law And Policy Community, UNSW Law Faculty This webinar covers: - A 101 on metadata - what it is and how to use it - Insight into a typical attack, what happens and what we would find when looking into the metadata - How to collect metadata, use this to detect attacks and get greater insight into how you can use this to protect your organisation - Learn how much raw data and metadata to retain and how long for - Get a reality check on how you're using your metadata and if this is enough to secure your organisation

    Play Video

  • 150x50

    CSO Webinar: How banking trojans work and how you can stop them

    CSO Webinar: How banking trojans work and how you can stop them Featuring: • John Baird, Director of Global Technology Production, Deutsche Bank • Samantha Macleod, GM Cyber Security, ME Bank • Sherrod DeGrippo, Director of Emerging Threats, Proofpoint (USA)

    Play Video

More videos

Blog Posts

Market Place