⛳ Planting your flag, Krucial and Microplate Dx raise, AI Accelerator
This week, we hear news from Krucial, the AI Accelerator, Alitu, Microplate Dx, and more!
Here's your Campfire for the 18th of September, 2023.
Before we begin: Fill out the Founders Survey and share your views about the investment landscape in Scotland. It's an entirely volunteer-led initiative, so we need the support of the community. You can use this link for sharing.
💼 This issue of Campfire is sponsored by Shepherd and Wedderburn's initiative to supercharge start-ups and scale-ups. Be sure to follow the Start to Scale LinkedIn page for useful videos and posts designed to help founders.
⛳ If you want to plant your flag, own the consequences
by Robert Gelb
There's been a consistent stream of folks coming out against the trend towards inclusivity, corporate activism and encouraging new ways of working that's been prevalent over the past several years. Whether it's railing against the move towards work from anywhere or declaring their companies are no longer places to discuss politics, more leaders are feeling more comfortable 'going against the grain'.
I honestly have no issue with someone who doesn't want their company to take a political stance, or who do want to mandate a return to the office. You have the right to have differing opinions, or indeed, no opinion at all. The problem I have is what often accompanies these types of decisions: hypocrisy and an unwillingness to take personal or corporate responsibility and own the fallout.
Looking at how Coinbase or Basecamp/37 Signals were criticised for their decisions to reduce political discourse in the workplace is an interesting case study. Coinbase came across as problematic, but clear, whereas Basecamp, with its corporate and founders' history of thumbing their nose to authority and opinionated challenging of others in the industry, came across as hypocritical when they appeared to suddenly stop similar challenging discussions happening internally.
The return to work shift also has its challenges, with companies simultaneously requiring staff to come back to the office (including staff that had been hired with flexibility sold to them) while also complaining about high staff turnover and a difficulty in recruiting as a result.
Mandating everyone come back to the office, I have no problem with. Basing your decision on feelings rather than data, then throwing your toys out of the pram when the result of that leads to your staff walking, and then blaming those staff and not taking responsibility for your decision is where you lose me.
Mike Hopkins from Amazon was surprisingly honest when talking about why returning to the office was necessary: "I don’t have data to back it up, but I know it is better.” It's not the data, it's the comfort that presenteeism brings to many when they don't have a good understanding of what productivity looks like. If you really want to say "It just feels better", then say it. But own it, and whatever consequences it brings (good or bad, and it might be good!).
Diversity without Inclusion doesn't win
A final area I'll touch on that definitely affects founders is thinking about your early team members. If you honestly believe that hiring a bunch of people that look and sound like you is the best way to get what you want built, then embrace that. Don't pretend to be inclusive until it becomes hard: that's just virtue signalling. Virtue-signalling is bad regardless of your position on an issue. The insincerity does a disservice both to the people you're trying to deceive as well as those who might agree with your position.
I had an interesting conversation with Danae Shell from Valla who made the point that in the short term, while diverse teams perform the best, the second best is the other extreme of a super homogenous group while a useless mix of the two performs the worst.
Monocultures are seen to be weak, blind to potential pitfalls and not as innovative (which studies back up). But (again, only in the short term) homogeneous teams still perform better than teams that have diversity but without inclusion.
When you're in innovation-mode, it can feel like a short-cut: you feel like you're just able to get more done when you're more comfortable working with people who look, sound like, think like and come from a similar background to you. When that happens, that can often feel like an efficiency attributed to a monoculture. But that perceived speed of decision-making could actually be tied to your mental model alignment and the benefits of smaller teams more generally.
While I believe that a diverse approach to building a company is the strongest, it's hard. But it brings with it resilience, awareness, and an insight to be able to serve more customers and make more money. Sometimes when pushed up against that discomfort, it's a convenient and easy route to roll over and make claims about efficiency rather than dealing with the discomfort and growing.
What does this mean for founders? We all have a certain familiarity with cognitive dissonance. We need it to have the audacity to believe in something when others won't. But we also suffer from how that leads to more cognitive dissonance. Sometimes we actually need to learn and adapt, and sometimes we need to stay stubborn.
Obviously, I'd argue that you should want to be challenged even if it's uncomfortable. But if you are constantly reflecting on yourself and think a decision, a way of building a company, the way you approach your team is the right one (even if it's not popular), then you should own it. Being sincere in the short term gives you clarity in the long term. It might be the wrong decision and people like me might disagree with it, but it will serve you better than the alternative.
Disagree? Let us know! Want to write about an aspect of being a founder? Get in touch and suggest a topic!
🤝 Cofounder Curious
New listings this week include:
I do technology and culture, building and leading tech teams for over a decade. I'm hands-on too, good with AWS serverless (or GCP) Typescript and Python, with a Java legacy. I'm moving on from remote CTO for a 30-person scale-up in London. Keen to contribute here in Edinburgh.
Plus more!
Want to connect with any of them? Be sure to fill out your profile and join our Scottish-based Cofounder Curious list.
🌊 Updates & Opinions
🏢 Build in Glasgow apparently: Glasgow has the highest business creation per capita in Scotland, with Edinburgh coming in second according to a new study. TS
🎙️ Inverness-based Alitu, (podcast editing, recording, and hosting) just launched an AI powered show planner tool to help you develop a podcast plan in minutes - check it out! SS
🤖 The University of Edinburgh's AI Accelerator (AIA) has announced its seventh cohort: AgriTech Analytics, Black Goblin, FCLabs, My SMASH Media, Bennu.ai, Looper, Open Power, Soil Benchmark, Allos, Dyneval, Eye to the Future Ltd, Happitech, and SympaHealth. DGT
🛰️ Glasgow-based Krucial (satellite and cellular connection switching for IoT devices) raised £3m from the Scottish National Investment Bank (SNIB), The University of Strathclyde, Scottish Enterprise, and AzurX. FS DGT TS SS AGF
🦠 Edinburgh-based AlveoGene (inhaled gene therapy for respiratory diseases) raised an undisclosed amount from Old College Capital (OCC) and Oxford Science Enterprise (OSE), and the Harrington Discovery Institute. SFN
🔬 Glasgow-based Microplate Dx (rapid antibiotic susceptibility testing) raised £2.5m in seed funding from Deepbridge Cpital, University of Strathclyde, Scottish Enterprise, SIS Ventures, and Tharim Bio. IN DGT UKTN
🟨 Gold no more? Scotland's only gold mine is in jeopardy after its owner Scotgold Resources had its shares suspended. SFN
⛴️ What does EV stand for? Electric Vessels will be deployed in a three year trial in Orkney starting next year. DGT
📣 Asks & Offers
📣 We've launched the Founders Survey! Please fill it out, it takes less time than you spend making that artisanal pour-over coffee in the morning. If you have a mailing list of startup founders, and would be willing to share the survey, let us know!
🔒 Cyber Security Questionnaire: Rada Cyber Security is looking for anyone working in small or medium sized businesses in Scotland to fill out a quick questionnaire about cyber security to help in their research: Answer here.
👭 Interested in connecting with possible co-founders? Fill in your listing on Cofounder Curious today! Connect with others for possible cofounder matching here.
🙏 Looking for a mentor? A senior software engineer with a background working for early to mid stage tech startups as well as running engineering teams for NGOs providing data analytics to public health in the developing world is looking to mentor a junior developer. They have extensive experience in DevOps, API design and implementation, data analytics and cloud security. They are looking to find a junior to mid-level software engineer who would enjoy one-to-one mentoring in technical skills as well as early career development (no cost). Reply if interested.
✍️ Want to write something for Campfire? Have an opinion you'd like to share? get in touch!
🦸 Absolute Superheroes
"John Morrison and Joe Fitzgibbon are absolute superheroes within the Scottish ecosystem. They're always there to help my company and other startups. From free mentoring in the early days, quality advice, even the occasional office space to use in Edinburgh and London, they are genuinely there to help out while still being cost-effective." - John Gordon, CEO & Co-founder, Incentive Games
Shepherd & Wedderburn's innovative and personable approach helps companies from first incorporation onwards (including through to an exit – if that’s the goal). Their global reach means they can scale and grow with you, like they have with clients like Epic Games, FanDuel, Parsleybox, and TVSquared.
👉 To learn more, send an email to starttoscale@shepwedd.co.uk & set up a chat.
📅 Events
🤖 19/09, 09:30 🗺️ Stirling: Say Aye to AI?: Hear real world examples of how AI is already being applied by businesses and organisations. MORE INFO
🤖 21/09, 10:00 🗺️ North Lanarkshire: Unleash the Power of AI/Chat GPT for Business & eCommerce: This masterclass will delve into how you can utilise AI tools to help your business become more efficient and productive. MORE INFO
🧩 21/09, 13:00 🗺️ Edinburgh: Neurodiversity Meetup: This meetup is for anyone who is neurodivergent or interested in learning about neurodiversity & creating inclusive spaces. Open to everyone. MORE INFO
🤝 21/09, 17:00 🗺️ Aberdeen: SG Aberdeen Relaunch Party: Aberdeen is a hotbed of innovative, creative and high-growth startups and we can't wait to get together to inspire, educate and connect with you. Featuring Beena Sharma - CCU International. MORE INFO
🤝 21/09, 18:00 🗺️ Edinburgh: Edinburgh Tech Social: Social evening of drinks and conversation with fellow tech minded people! MORE INFO
🗣️ 22/09, 17:30 🗺️ Edinburgh: Eric McAfee Interview and Q&A: Join the Scottish Business Network for an exciting in-person event with Eric McAfee, a Silicon Valley entrepreneur and venture capitalist with a lifelong commitment to agriculture and renewable energy. MORE INFO
📝 25/09, 12:00 🗺️ Edinburgh: Setting Up For Success (Series): Whether you are still at idea ‘validation’ stage and looking to launch soon; just started with some early traction; or are ready to scale - then this event series will help you Set Up For Success. MORE INFO
⛓️ 25/09, 16:00 🗺️ Edinburgh: Build reliable financial systems with decentralized identity on blockchain: Join us for an immersive workshop, led by industry experts Jonathan Else and Maciej Zurawski. Bring a laptop to code with if there's time. MORE INFO
🍻 26/09, 17:30 🗺️ Edinburgh: ProductTank September Pub Night: Join ProductTank Edinburgh for an exciting evening of networking and camaraderie at our casual pub meetup! MORE INFO
🤝 26/09, 18:00 🗺️ Aberdeen: Nordic Scot Business Network: Nordic Scot Business Networking event to coincide with an in-bound NORWEP delegation. Come and meet with visiting delegates from Norway. MORE INFO
🤑 27/09, 12:30 🗺️ Kilmarnock: Selling on Global Platforms: Shopify: Shopify is a leading global commerce company. It provides tools to help you start, grow, market, and manage, a retail business of any size. MORE INFO
🤝 27/09, 18:30 🗺️ Edinburgh: Entrepreneurs Social Club (ESC): The social club for founders and aspiring entrepreneurs - skip the talks, presentations and lectures - and go straight to networking! MORE INFO
♻️ 28/09, 08:30 🗺️ Edinburgh: GreenTech Meetup: A chance for those in the sustainability space, or those who want to become more sustainable, to get together and learn from each other. MORE INFO
🤝 28/09, 12:00 🗺️ Dundee: AccelerateHER + Techscaler Meetup: Dundee and Tayside: For women and non-binary folk in the tech startup world, whether you're working on an idea or in the thick of scaling your tech venture. MORE INFO
🏳️🌈 28/09, 12:30 🗺️ Edinburgh: LGBTQ+ Meetup: This group is for people to discuss issues affecting the LGBTQ+ community and creating queer-inclusive spaces. Open to everyone. MORE INFO
❓ 28/09, 17:00 🗺️ Stirling: The Social: CodeBase Quiz: Are you a master of trivia? Do you have a thirst for knowledge? Or maybe you just love a good challenge!! No matter your motivation, The CodeBase Quiz Night is the social event you've been waiting for! MORE INFO
🤝 29/09, 17:30 🗺️ Edinburgh: TouchBase: An informal social event to give people in the CodeBase Edinburgh building and wider community the chance to touch base with one another. MORE INFO
🎯 Deadlines
🎯 Open 💡 Applications are open for the RBS Accelerator programme MORE INFO
🎯 01/10 ♻️ TechX Accelerator: Cleantech at a tech readiness level of 2-6, up to £100k in grant or SAFE note, 15 week programme with 3 weeks expected in Aberdeen. Looking for "diverse, innovative start-ups that will pave the way in clean energy." MORE INFO
🇬🇧 Upcoming Innovate UK deadlines:
UK-Israel Eureka Bilateral Collaborative R&D: Round 2 Applications close 13 September
Innovate UK Smart grants: June 2023 Applications close 27 September 2023
SSPP: Liquid food and beverages in refillable packaging Applications close 25 October
Collaborative AI Solutions to improve productivity in key sectors Applications close 8 November
MyWorld Collaborative Research and Development: Round 2 Applications close 23 November
Are we missing your event or deadline? 👉 Submit it here!
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That’s all for this week - have a great one!
Team 🔥Campfire