U.K. Tech Entrepreneurs Are Soaring

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Dec. 02 (Bloomberg) -- Emily Brooke, CEO of Blaze, and Nick Hungerford , CEO of Nutmeg.com , discuss the U.K. tech environment and the impact of crowd funding. They speak on Bloomberg Television's “The Pulse.” (Source: Bloomberg)

Up scene.

The economy seems to be taking off.

What is the reality of the situation?

Use feyou spent time in silicon valley.

When i left london seen so far behind.

Coming back now there seems to be so much investment from the whole ecosystem in creating a value for entrepreneurship.

We are really starting to see things taking off.

I think it has been transformational.

The last five years have been a wonderful time.

We just need to make sure that the government, the chancellor this week has a great -- keep on propelling with the rocket fuel that they can provide more startups.

What is your impression, emily?

I just started my own start up recently.

I think it is fantastic.

Especially here in east london.

There's a real collaborative community around start up.

Obviously the google campus.

It is a club for it we all of the same problems.

We are talking and having a bit of fun at the same time and helping each other.

A lot of it is software.

There are notices on the billboard looking for programmers.

You're building a black light.

That is a hardware store is.

Tech is very exciting.

Hardware is quite new.

Typically large companies build hardware for large companies.

Now with funding from crowd sources like kickstart it is possible for individuals to get consumer hardware too many people.

This is my university project and now it is a company.

There are four little hardware companies just near where i am.

It is really exciting.

It is really kicking off.

You're not going to the next round of funding after kickstart her.

First of all, silicon valley has stanford.

Cambridge is up the road.

We used the university tech link as well as we should be?

That is how it should work.

I don't think we are is a plain and simple answer.

We need to get more academic institutions involved in the start up scene in london and beyond throughout written.

It is quite simple to see why.

Academic institutions providing incubations base -- an incubation space.

That is where people like mark zuckerberg at harvard, the google and yahoo!

People have come from that.

It is a safe environment.

Emily will probably share those thoughts.

Professors help you for free, you have students china products.

Especially in london, london school of economics, ucl, kings, just to mention a few.

I second that.

When i did well at school and work hard, i wanted to know what would happen in the city.

It was never discussed that you could start a company yourself.

Incredibly talented people go straight into a job in the city when actually it could be an incredibly exciting first job to work for a company.

How to change that?

When you go to silicon valley everybody has their pet roger.

-- has their pet project.

They start off quite early.

You get fresh graduates.

You don't have to go straight into a suit job.

We have entrepreneurship as an acceptable job now.

We haven't got to the stage where it is an acceptable career.

That is the mind shift we need to have.

People need to think him i want to be an entrepreneur, i want to work in start ups for the whole of my career.

It is acceptable to fail and start again.

Let's talk about funding.

How big a difference have projects like kickstart are made to startups?

Getting the first bit of money and is very difficult.

Then you have all kinds of problems in the second round.

How big a difference will it make for start ups him into the ranks now?

Have you used it?

It is incredible.

Three reasons the on the money.

Verification of the idea.

Before i could be to retailers and manufacturers ahead to prove that people would pay for it.

782 people stick up their hands and tell me what they like or don't like.

The community that we built by kickstart her are now our first stop because they are our fans.

I think it is a great model.

We didn't do equity -- literally , it kickstart my company and got it off the ground.

Success breeds success.

We need to get more projects like kickstart are going to get first projects out there.

It shows we're going to be a country full of entrepreneurs with great products.

Will leave it at that.

Thank you.

Francine come over to you.

This holiday season, amazon is hiring thousands of extra part-time workers for their distribution centers.

We will look inside the web giant and the staggering cost of this growing business.


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