David Peto on attracting funding for your startup
By Tanya Combrinck on November 22, 2011
How do you attract funding as a UK-based startup?
The CEO of video management company Aframe talks to Tanya Combrinck about getting the angels and super angels on board
This article first appeared in issue 215 of .net magazine - the world's best-selling magazine for web designers and developers.
.net: What does Aframe do?
David Peto: Aframe is a massively powerful online platform for the professional video production industry. It stores video securely in a data centre ready to be delivered to anyone on the web, making it fast and easy to collaborate.
I used to run a post-production company and we’d have people with 30,000 files who couldn’t find their way around what they’d made because it didn’t have any metadata. It’s common for people to use a system called logging where teams of kids put metadata onto paper, believe it or not; or a spreadsheet or bespoke system. It’s slow, inefficient and unreliable – it gets lost and you often can’t find what you’re looking for.
We’ve built an outsourced metatagging service that makes tagging fast for a person to do and interesting enough for them to want to do it. It’s collaborative, so the metataggers work on the footage as a team, making the tags as detailed and diverse as possible. You’d think that the TV and film industry would be really technically advanced, but in fact it can be quite slow to adapt. People are amazed that no one has done this before.
.net: How did you go about getting investment?
DP: At the start we followed a very traditional way of raising money. I raised very small amounts of seed money, and then did an angel round in October 2009. We also got some grant money from the government because of the pioneering nature of what we’re doing. Once we’d built the system up, we raised what we called a super angel round, which is an interesting aspect of the state of UK fund raising at the moment.
It used to be that venture capitalists might put seed money of around £250k into a start-up, and angels might put in around £30k each. Recently, a lot of VCs have backed away from very early stage companies, and it’s been interesting to see the rise of the super angel – individuals who’ll put £100k or £150k into a start-up. We were very lucky – we had ordinary angels who put in £30k, and also several super angels who put in over 100k.
We’re a blend of a traditional web company and one that’s quite infrastructure-heavy, because we built our own storage. So we needed quite a sizeable sum of money to get going. It’s been interesting for us because we’ve had a small amount of VC, but mainly we’ve been funded by individuals from the TV and advertising industries.
.net: How difficult is it starting up in the UK? Would it have been easier in another country?
DP: We’ve been lucky to raise anything in the current market: it’s really tough out there. An accusation often levelled at the VC industry here is that the London offices are just for show; they don’t really have any decision making power, so in reality you’re competing against companies that are in front of the decision makers every day in Silicon Valley or New York.
One interesting thing I’ve heard is that the UK isn’t really competing against America for money, it’s actually competing against China and India. Often start-ups in those countries are seen as more attractive because the markets over there are so much bigger. I think it’s going to get better though, because we have the Silicon Roundabout [The East London area around Old Street and Shoreditch] springing up and if you get a cluster of companies it does inspire people to take a look and possibly invest.
.net: Is there a conflict between wanting to spread the word about yourself to attract investment, and the danger of someone stealing your idea?
DP: Yes. I made everyone sign an NDA. There’s a big thing about this: you might hear some people say something like “If someone wants me to sign an NDA then I won’t even talk to them because if they don’t trust me then why should I invest...” My belief is that if someone’s not willing to sign that kind of thing then you shouldn’t be talking to them anyway, especially in that really early stage. Literally everyone we spoke to signed an NDA before they came to see us and often even before I would give them the overview of what the business was. Obviously VCs don’t do NDAs, but they are governed by FSA regulations on confidentiality.
.net: Is Aframe up and running now?
DP: Yes. The whole system is live, we have half a petabyte of storage and we’ve got customers using it. We have data centres in London and Sunderland so that if London got nuked, the data would be safe in Sunderland. It sounds crazy, but that’s how seriously we take data security.
http://www.netmagazine.com/node/1580
Thursday, 24 November 2011
LinkedIn and how to use it: a graduate job seeker's guide
Creating a LinkedIn profile enables you to build a network and gain access to industry insiders. Clare Whitmell reveals her step by step guide to getting started, and making the most of your profile
From Guardian careers by Clare Whitmell
LinkedIn offers much more than job listings. It enables you to build a network and gain access to industry insiders. It's also the easiest way to create a professional identity online, as a LinkedIn profile appears among the first results when your name is googled. And with the option to add files, presentations and updates, your profile can become a more dynamic version of your CV.
Getting started
Your first step is to create your profile. Aim for 100% completion so you show up in more searches. To do this, you'll need to include your educational history, current position and three recent ones, upload a photo, write a summary and then get three recommendations.
The settings tab (underneath your name in the top right hand corner) allows you to change things like privacy settings. You can edit your profile any time, add updates or applications, or rearrange the sections of your profile by clicking on the section header, then dragging it to its new location.
Tips
Use the headline under your name to reflect your career goals – not necessarily your current job title.
Claim your name on your LinkedIn url (from the edit button next to Public Profile).
Use keywords in your summary and experience sections. Be specific about responsibilities, achievements and educational experience.
Don't be too formal. Inject some personality into your summary section by writing in the first person and giving an idea of your interests and goals.
Making contacts
LinkedIn suggests names based on your work history or mutual contacts. You can also invite people to connect by using the contacts tab on the top of the page to search through past or present colleagues and university (alumni) contacts, or through importing your email address book.
Groups
Joining and participating in groups raises your profile and expands your network. LinkedIn suggests relevant groups, but you can also search or create your own. To help you decide the usefulness of a group, check the group statistics feature, which gives information about demographics, growth and activity. Group membership has obvious benefits: you can invite other members to connect, view jobs which might not be posted elsewhere, and stay up-to-date with industry trends by reading and taking part in discussions.
Company pages and job opportunities
Use the navigation bar to find companies you're interested in, then follow them to receive their updates. You can see if any of your contacts work at the company – useful if you need an introduction or information you wouldn't normally get from a job description or company website.
Use the applications
LinkedIn is constantly rolling out new developments; a recent one being the skills feature (accessed under the 'More' tab) which allows you to include crucial keywords. Other additions particularly relevant for grads are the new profile sections designed to highlight university achievements. These include projects, awards, organisations, courses and test scores and you'll find them from the "add sections" bar immediately under the main profile.
Resources
From Guardian careers by Clare Whitmell
LinkedIn offers much more than job listings. It enables you to build a network and gain access to industry insiders. It's also the easiest way to create a professional identity online, as a LinkedIn profile appears among the first results when your name is googled. And with the option to add files, presentations and updates, your profile can become a more dynamic version of your CV.
Getting started
Your first step is to create your profile. Aim for 100% completion so you show up in more searches. To do this, you'll need to include your educational history, current position and three recent ones, upload a photo, write a summary and then get three recommendations.
The settings tab (underneath your name in the top right hand corner) allows you to change things like privacy settings. You can edit your profile any time, add updates or applications, or rearrange the sections of your profile by clicking on the section header, then dragging it to its new location.
Tips
Use the headline under your name to reflect your career goals – not necessarily your current job title.
Claim your name on your LinkedIn url (from the edit button next to Public Profile).
Use keywords in your summary and experience sections. Be specific about responsibilities, achievements and educational experience.
Don't be too formal. Inject some personality into your summary section by writing in the first person and giving an idea of your interests and goals.
Making contacts
LinkedIn suggests names based on your work history or mutual contacts. You can also invite people to connect by using the contacts tab on the top of the page to search through past or present colleagues and university (alumni) contacts, or through importing your email address book.
Groups
Joining and participating in groups raises your profile and expands your network. LinkedIn suggests relevant groups, but you can also search or create your own. To help you decide the usefulness of a group, check the group statistics feature, which gives information about demographics, growth and activity. Group membership has obvious benefits: you can invite other members to connect, view jobs which might not be posted elsewhere, and stay up-to-date with industry trends by reading and taking part in discussions.
Company pages and job opportunities
Use the navigation bar to find companies you're interested in, then follow them to receive their updates. You can see if any of your contacts work at the company – useful if you need an introduction or information you wouldn't normally get from a job description or company website.
A dedicated jobs portal for students and graduates allows you to refine your search by sector and location.
You can also find opportunities (through the "jobs you may be interested in" feature or through a search) and be found by companies and recruiters.Use the applications
Show off your expertise by embedding your blog, adding a file (such as your CV) via the box application, or including a slideshare presentation. Keep your profile active with updates or by integrating your LinkedIn updates with Twitter (you'll need to add your Twitter account, then decide what – if anything – you want to merge).
Stay up-to-dateLinkedIn is constantly rolling out new developments; a recent one being the skills feature (accessed under the 'More' tab) which allows you to include crucial keywords. Other additions particularly relevant for grads are the new profile sections designed to highlight university achievements. These include projects, awards, organisations, courses and test scores and you'll find them from the "add sections" bar immediately under the main profile.
Resources
The LinkedIn blog explains new features.
Recruiters also share their insights on how they use LinkedIn. Follow experts such as Bill Boorman and Andy Headworth to get tips and insider advice.
Friday, 18 November 2011
How to be more organised
 | Not the enemy An organised designer might sound like an oxymoron, but being creative doesn’t mean you can’t be organised – you need to have some kind of organised conduit to fulfil that creative. You’re operating as part of a business and you need to be able to deliver. |
 | Learn shortcuts It’s worth taking the time to learn as many keyboard shortcuts as possible. It may take longer to look them up, but it will speed you up in the long run. I worked with a designer who knew every Illustrator shortcut off by heart – her work rate was three times faster than everyone else’s. |
 | Don’t overthink Be careful not to overthink things. You don’t always need some grand conceptual idea that is one day going to get into the D&AD Annual. Sometimes, you really do just need to put the type that the client wants onto a poster. |
 | Business hours Some people are night owls and achieve more outside of traditional business hours, but if you have a 9-5 job you need to work within those hours. This is a more operational way of working and you should be able to push on through and get on with it. |
 | No need to reply Email can be very invasive, but you don’t always need to respond – make an effort to read and monitor what’s going on without getting sucked into a culture of always needing to hit Reply. One trick is to put a response in the subject line and add ‘no need to open’. |
| Words: Jamie Wieck. Icons: Anton WeflöFind plenty more advice like this in The Design Manual, every month in Computer Arts. |
What to leave off your CV and job applications
You don't need to tell all to an employer – sometimes what you leave off your applications is as important as what you include...
http://careers.guardian.co.uk/cv-job-application-mistakes
http://careers.guardian.co.uk/cv-job-application-mistakes
D&AD Awards 2012: What you need to know
Now's your chance be rewarded for the hard work you and your team have done this year -- by entering into the D&AD Professional Awards 2012. You never know, you could win a coveted Yellow or Black Pencil
http://www.computerarts.co.uk/blog/dad-awards-2012-what-you-need-know-112730
http://www.computerarts.co.uk/blog/dad-awards-2012-what-you-need-know-112730
The power of experience
Stephen Gautier doesn’t know what he’ll be doing in two years’ time, let alone 10. But he does know he’ll still be learning .....
http://www.computerarts.co.uk/features/power-experience
http://www.computerarts.co.uk/features/power-experience
How do I: Write the perfect CV?
It may translate as "course of life" but that doesn't mean your curriculum vitae should give an exhaustive summary of every aspect of your life including pages of interests, hobbies, irrelevant qualifications and every odd job you've undertaken since you were 11.
A survey by Careerbuilder.co.uk recently found that nearly one-third of British employers said they spend one minute or less reviewing a CV, so make it short and sharp, ideally no more than two pages long.
If the job is skills-based, consider a functional CV that lists your talents and qualifications first and includes job history nearer the end, detailing dates, positions and career achievements.
After your name and contact details, include a skills profile of two or three sentences in which you explain why you are right for the role. If you get this right, employers will read on to your biographical information below.
"It's crucial to make sure each and every CV you send off is relevant for the job you are applying for," says Corinne Mills, managing director of Personal Career Management and author of You're Hired! How to Write a Brilliant CV. "Do you homework and tailor each application accordingly."
"Nine out of 10 CVs I see have spelling errors or sentences that don't make sense," Mills says. "So make sure you get someone you trust to proofread yours for you. The easiest way to fail the paper sift is to misspell something in your opening paragraph."
And be sure to use plain text rather than any fancy fonts, layouts or formats in your document. Mills explains: "Most large employers and recruitment agencies use databases to automatically read CVs and if you get too creative with its format your attempt will fall at the first hurdle."
Likewise don't start your CV with the heading "curriculum vitae" as some software packages will read this as your name. "Start with your name and don't list your age or marital status. It's old-fashioned and will make your application look dated," Mills says.
http://www.independent.co.uk/student/career-planning/getting-job/how-do-i-write-the-perfect-cv-6263269.html
A survey by Careerbuilder.co.uk recently found that nearly one-third of British employers said they spend one minute or less reviewing a CV, so make it short and sharp, ideally no more than two pages long.
If the job is skills-based, consider a functional CV that lists your talents and qualifications first and includes job history nearer the end, detailing dates, positions and career achievements.
After your name and contact details, include a skills profile of two or three sentences in which you explain why you are right for the role. If you get this right, employers will read on to your biographical information below.
"It's crucial to make sure each and every CV you send off is relevant for the job you are applying for," says Corinne Mills, managing director of Personal Career Management and author of You're Hired! How to Write a Brilliant CV. "Do you homework and tailor each application accordingly."
"Nine out of 10 CVs I see have spelling errors or sentences that don't make sense," Mills says. "So make sure you get someone you trust to proofread yours for you. The easiest way to fail the paper sift is to misspell something in your opening paragraph."
And be sure to use plain text rather than any fancy fonts, layouts or formats in your document. Mills explains: "Most large employers and recruitment agencies use databases to automatically read CVs and if you get too creative with its format your attempt will fall at the first hurdle."
Likewise don't start your CV with the heading "curriculum vitae" as some software packages will read this as your name. "Start with your name and don't list your age or marital status. It's old-fashioned and will make your application look dated," Mills says.
http://www.independent.co.uk/student/career-planning/getting-job/how-do-i-write-the-perfect-cv-6263269.html
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