Calastone Selected for Tech City UK’s ‘Future Fifty’ programme
NEWS | 17 October 2013
Fifty firms’ entrepreneurial spirit and quality of offering recognised as ‘ones to watch’ for the future of British technology
Calastone has today been named in Tech City UK’s list of the first 25 exciting, high-potential growth businesses to join the Future Fifty – a fast-track programme of public and private sector support to catalyse growth, create jobs and deliver significant economic impact to the UK.
The Future Fifty was launched in April by the Chancellor George Osborne and Joanna Shields, UK Ambassador for Digital Industries and CEO of Tech City UK. The year-long programme connects high-growth companies with expertise and tailored support to enable them to scale rapidly and lay the foundations for their next major liquidity event.
Calastone, the global fund transaction network, was in esteemed company including businesses such as Zoopla, Secret Escapes, Hailo, Housetrip, Lyst, Mind Candy, Just Eat and Huddle.
Companies were selected by a 13-strong advisory panel comprised of venture and growth capital investors, lawyers, accountants, communication specialists and management teams from a number of successful UK technology businesses.
Judges, which included experts from KPMG, Deloitte and Cass Business School, used a selection of qualitative and quantitative criteria. Quantitative measures included financial revenue growth and profitability, while qualitative metrics included an assessment of the company, its products, market environment, competitive position and strength of the leadership team as well as future opportunity and scalability.
Julien Hammerson, chairman and CEO of Calastone, said: “We applied to the scheme in order to be publicly recognised for the quality of progress, service and innovation that our teams deliver. Being able to take advantage of the support offered by Tech City UK and the government should allow Calastone to take its evolutionary plans further, faster and draw from a rich pool of talent and experience. We are honoured to have been selected amongst so many exciting companies and we are looking forward to achieving the success that the British technology sector so richly deserves.”
The Future Fifty will provide concierge-style support to address key business needs along with a continuous programme of press and promotional backing, modular 'opt-in' business support and educational content and bespoke events.
At the Tech City UK Announcement, the Prime Minister and Joanna Shields commented:
Prime Minister David Cameron said: “I am determined that we do everything we can to make Britain the best place to start, grow and do business. As well as backing the businesses of today, this Government is also backing the innovative, high-growth businesses of the future. The Future Fifty programme is action that will help these businesses to grow and achieve their potential, and help us to compete and thrive in the global race.
Joanna Shields, CEO of Tech City UK said: “As digital innovation transforms business and society on an unprecedented scale, entrepreneurs around the UK are creating new businesses and new jobs in record numbers. The Future Fifty programme will help the most promising companies make the UK their home and solidify London as the world's digital capital – the most attractive destination for entrepreneurs, start-ups and their investors.”