The Save our Startups campaign warns that many of the UK's 30,000 startups could collapse without further government support.

UK tech community calls on government for more startup support | Sifted

Some of the most influential figures in UK tech have backed a campaign to push the government to follow France and Germany in announcing a support package for startups to deal with the Covid-19 crisis. In an open letter to British prime minister Boris Johnson, the high-level group warned that, as a result, the country could “lose a generation of startups and high growth businesses to Covid-19” and fall behind the rest of Europe in terms of innovation. Over 20 industry bodies and organisations have also joined the campaign — including The Entrepreneurs Network, Draper Esprit, Virgin Startups, Vala Capital, Innovate Finance, Runway East, UK Business Angels Association (UKBAA), EISA, Tech London Advocates, Capital Enterprise, Seedrs and Coadec. The open letter contrasts the actions of the UK government with that of those of France and Germany, which have “raced to the rescue” of its startups and tech communities by committing billions in funding. In the last two weeks, the French and German governments have become the poster children of the European startup community, respectively committing €4bn and €2bn in specific relief for the sector. The campaign is, therefore, calling on the UK government to provide an equity-based liquidity package designed specifically for startups to save those at risk of collapse. Robin Klein, the cofounder of seed-stage venture capital firm Local Globe said that we should refrain from “knee jerk” responses to give away taxpayer money to startups. “Please don’t ‘knee jerk’ react to the call to ‘save our startups’ by deploying much needed Tax payers ££ directly,” he said in a Tweet . On Sunday, Wise said on Twitter : “Govt fund that ends up owning stakes only in those Cos where private investors will no longer act could be a disaster for the tech sector and public finances in the long run.” List of signatories: Darren Westlake — cofounder and chief executive, Crowdcube Luke Lang — cofounder, Crowdcube Brent Hoberman, Executive Chairman, Founders Forum; previously Co-Founder, Alex Chesterman — founder and chief executive, Cazoo; previously cofounder, LoveFilm and Zoopla Arnaud Massenet — cofounder, Net-a-Porter Mike Muller — cofounder, ARM Anthony Fletcher — chief executive, Graze Tania Boler — founder, Elvie Doug Monro — cofounder and chief executive, Adzuna Jeff Lynn — cofounder and executive chairman, Seedrs Saurav Chopra — cofounder and chief executive, Perkbox Daniel Korski — founder and chief executive, PUBLIC David Dunn — chair, UK Tech Cluster Group Philip Salter — founder, The Entrepreneurs Network Andrew Tibbitts — chief operating officer, TechHub Charlotte Crosswell — chief executive, Innovate Finance Jenny Tooth OBE — chief executive, UKBAA Jonathan Sibilia — partner, Draper Esprit Dom Hallas — executive director, The Coalition for a Digital Economy (Coadec) John Spindler — cofounder and chief executive, Capital Enterprise Mark Brownridge — director general, EIS Association Natasha Guerra — cofounder, Runway East Andy Fishburn — managing director, Virgin Startup Russ Shaw — founder, Tech London Advocates Alex Davies — founder and chief executive, Wealth Club Bruce Davies — director, UK Crowdfunding Association Andrew Roughan — managing director, Plexal Jasper Smith — founder, Vala Capital Gaby Hersham — founder, Huckletree Carlos Silva — cofounder, Seedrs

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