Don’t forget human connection in the pursuit of funding and ROI

Just last week we had the pleasure of hosting a midpoint meet-up for our Scaleup Programme, which we’re delivering in partnership with Barclays Eagle Labs, supporting scaleups nationwide to solve society’s biggest challenges.

The 25 companies from our Scaleup Programme cohort assembled at our Plexal Stratford HQ to connect with each other alongside participating in a Finance and Funding Workshop in the afternoon. Following this, we held an Investor Networking Dinner with VCs ranging from pre-seed to Series B stage at Darkhorse in East Village.

But let’s be clear, the purpose of the evening wasn’t designed to be funding pitch practice in between courses. Instead, it was an opportunity – one guided masterfully by Ian Merricks, Proposition Lead at VenturePath. First and foremost? Everyone was required to understand each other on a human level; something that can be lost in the pursuit of funding and ROI.

Nobody’s path was the same, yet that didn’t stop us from gathering as a collective, reinforcing how enriching diversity of backgrounds, experiences and lives can be. As our differences united us, we heard how attendees had:

  • Grown up on a beach before relocating to the Himalayas 
  • Started a samosa street food business at Borough Market before scaling and selling 
  • Managed bands and launched radio stations 
  • Generated a following as a fantasy football influencer 
  • Hitchhiked with musicians 
  • Posed for Vogue in silver paint

With an array of colourful backgrounds and life experiences, everyone had compelling advice to share with one another, including:

  • Growth means nothing without a clear route to profitability 
  • Passion is essential to make real impact – being cold-blooded won’t cut it 
  • You CAN get from A to B without fundraising 
  • Don’t use VC backing as just a badge of honour 
  • Stay true to yourself and trust your gut

Evidently, we must walk our own path, so the key is to choose the advice right for yourself and seize the opportunities and networks before you.

Steve Brown, Head of Barclays Eagle Labs, said: “UK scaleup businesses are critical to economic growth. From job creation to skills development, from inward investment to regional productivity and prosperity. At Eagle Labs, our programmes focus on convening business, investors and industry expertise to help foster business growth. That’s why we love working with incredible partners like Plexal. It was great to meet and connect with a range of scaleups solving challenging societal issues and innovating in emergent technologies.”

Andrew Roughan, CEO at Plexal, added: “Thank you to Barclays for enabling this and allowing us to share a valuable evening. Thank you to the investor community for meeting and supporting these scaleup companies. And thank you to the scaleups on the programme – as 25 really impressive companies, we’re proud to associate ourselves with you and be part of your scaling journey. You are the stars of the future of this economy.”