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Tack on the challenges with land, bee population decline, heavy use of ecologically destructive fertilizers and pesticides and extreme food waste and this adds up to a real global challenge. . It’s hard to grow enough food to meet these needs, not to mention in a sustainable way and in a world where water is increasingly in short supply.
The fact of the matter is, most startups, particularly ones built by young professionals with no network and no track record, aren’t going to get funded. Teach ‘em Finance and Chase or Accenture will come and pick ‘em up 30 at a time. Undoubtedly the code sucked, but at least he got something up and running.
It’s often some combination of the idea not being big enough to sustain a venture exit or the company just not being appropriate for venture financing. My company was not well executed enough to achieve venture capital financing—and that wasn’t the city’s fault, it was mine. I was there, too. They’re not “dumb Wall Street money”.
Terms of the deal were not disclosed but it’s understood Spherics had raised £1.25m in equity financing from angel investors and £300,000 in grants. Bristol seems to be making a habit of Climate Tech, also producing Ecologi Zero , real-time carbon footprinting software for businesses.
He highlights a couple of priority projects: One to create a network to link entrepreneurs and policymakers with the wider ecosystem, and another to connect incubators and accelerators to build out a national support network for founders — both of which have been inspired by approaches taken in other European countries.
In practice, this means building a brand, cultivating networks, and saying a lot of ‘nos’ without losing access to deals. Apophenia is a term that explains this tendency to see patterns in randomness, across domains of finance, art, science, and games of chance. Part of the reason the brain does this is survival.
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