New advisory team formed to help boost growth of North’s tech sector

Dow Schofield Watts, the independent advisory business, has launched a new technology team to boost the growth of the North’s tech sector.

The team will aim to achieve this by helping businesses bridge the funding gap with the South.

Roger Esler, who heads the Yorkshire & North East office, will join the team along with David Smith, a tech investor and adviser and a former director of AXM Fund Managers, former technology developer Keith Benson, and Dave Graham who has a background in the mobile industry.

While the team will offer technology companies a full range of advice on how to grow and exit their business, access to finance will be the key focus - and in particular how to tap into venture capital in the London market.

Venture capital investment has long been concentrated in the capital. According to figures from CB Insights, UK tech firms secured a record £2.46bn in venture capital in 2015, although 63% went to companies in London.

Roger Esler, who has advised tech companies including Open Objects Software, Vebnet, PPL Therapeutics and Masternaut 3X, believes lack of access to finance is holding back the development of the tech sector in Yorkshire, Humber and the North East.

He said: “The North has strong talent offering high-quality investment opportunities. Start-ups are becoming more sophisticated and professional each year.

“We also have several vibrant, research orientated universities in the region. However, with a few notable exceptions, venture capital remains focused on London and investors rarely venture into the regions - even though strong competition for investments in London is pushing up prices.

“A key part of our role will be to help bridge the gap by introducing Northern technology companies to sources of investment in the capital.

“We will also provide a conduit to enable London-based venture capitalists to access opportunities in the North, where they are likely to get far more for their money.”

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