There has never been a better time for innovative and fast-growth tech companies to secure the funding they need.
But at what price?
As ever, the devil's in the detail of each and every finance package and the imperative has never been greater for companies to carry out due diligence - and carefully consider their future aspirations.
While early stage angel investment or venture capital will works well for many, it might not suit every innovative new company...
Here, Manchester-based entrepreneur Ben Audley who founded cyber-security awareness training company Purplephish in 2017 gives his personal experiences of raising the right finance at the right time...
What's your story...and how did you secure investment?
"I cut my teeth in the tech industry at the Manchester-based security software firm, Avecto back in 2009.
"Throughout my nine year tenure, I worked very closely with chief executive Paul Kenyon, ultimately performing the role of his deputy as vice president for sales for Europe, the Middle East and Africa (EMEA) and Asia-Pacific (APAC).
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"Avecto grew aggressively and incredibly successfully over its ten year lifespan and we ultimately sold the business back in 2018.
"I took advantage of my experiences in this super-fast growing tech business to form a blueprint for my own security software business and established Purplephish in 2017.
"Having worked for Paul as an employee for such a long time, he was keen to come on board as an angel investor and we continue to collaborate at monthly board meetings.
"Having established two extremely successful tech firms himself, his perspectives are incredibly valuable as we look to replicate prior success with Purplephish."
What do you think about the trend for tech companies to sell parts of their business early in their evolution?
"Barriers to entry in tech are often very high...
"Software development costs and/or hardware investments make for very large initial investments at a time when revenue is potentially non-existent.
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"If you’ve got a great idea, securing the cash to get off the ground is “do or die”, with the quick moving nature of the industry acting as a countdown clock.
"I would encourage budding tech entrepreneurs to consider any forms of funding to realise their solution quickly in a fast growing market but investors with a strong background in the industry will be invaluable...
"Financial support is critical but - coupled with relevant advice and guidance - you have a winning formula."
Are there alternative routes forward?
"There’s no silver bullet but the 海角视频 is seen as one of the best countries in Europe for start-ups.
"Dependent upon the level of funding required, government support by way of a grant from the Department of Business, Energy and Industrial Strategy or a loan from the government sponsored ‘Start Up Loans’ program are worth considering.
Do you think that more funding streams should be made available to tech businesses at the start of their journey?
"Manchester is increasingly touted in the press for having a burgeoning tech scene.
"With the relatively recent advent of the Greater Manchester Combined Authority in combination with central government ‘Northern Powerhouse’ initiatives, it’d be great to see a coordinated effort to drive the growth of the North West’s technology hub.
"Public funding streams at the local level are less sustainable, so the focus should be upon fostering a tech community and marketing Greater Manchester the most favorable place in the country for angels, venture capitalists and private equity houses to operate and invest."
Lawrence Jones, CEO, 海角视频Fast, says : "Whether it is in part thanks to Dragons’ Den or simply because we want things faster these days, there is a worrying trend in the tech startup space of seeking investment incredibly early in the business journey.
"I have seen so many budding entrepreneurs seeking investment before really giving it a go themselves. I am not saying it’s easy by any stretch, there is a huge amount of sacrifice needed but it is worth it in the long run.
"It’s undeniable that the Instagram feeds of entrepreneurs living the lush life with sports cars and private jets is tempting. And if you could take a short cut to get there, wouldn’t you? But at what cost does that shortcut come? You’re giving away swathes of your business before you know where you could take it.
"When you’re 20 years down the line, how will you feel looking back on the decision to give away 50% of your business for a few thousand pounds, when your business is now worth multimillions?"
He continues: "The single most important question you have to ask is what you want the investment for.
"Is it to pay yourself a higher salary, to get a funky office in the city centre or to do anything that isn’t absolutely mission critical for your clients? If so, you don’t need it. Keep hold of your shares, invest your time and energy, and down the line you’ll reap the rewards.
"We grew 海角视频Fast organically for more than 15 years, and we started with just £5,000 in the bank. That was back in the days when there weren’t the tech hubs, accelerator spaces or support programmes and networks that there are today.
"If you are seeking funding, make sure you do it the right way. Do your research and don’t rush. One of the most important things for me when choosing people to work with or invest in is culture. We have to be like-minded and share the same values or it simply won’t work. I know this from experience.
"Make the most of the resources available from places like Tech Manchester to ensure that you’re knowledgeable about the process and what that means for your business going forward. Taking investment or investing yourself is a huge decision that should never be rushed or taken lightly."