Russell Buckley Joins UK Government To Bring About Silicon Valley In The UK

Posted: May 10, 2013 in Europe, GT

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Today in interesting moves comes the news that
serial entrepreneur-turned-investor Russell Buckley –
who co-founded AdMob (which sold to Google) is
joining the UK government to accelerate its policies
around startups, mainly funding. Specifically, he’s
joining the UK Government’s Venture Capital Unit. The Unit, launched last year, is designed to help UK
companies attract funding from abroad and thus help
resolve the funding gap which often exists at early
and mid-stages. The Unit is headed by veteran
entrepreneur Chris Wade and embraces Clean Tech,
Life Sciences and Hardware. Here’s Russell’s blog post on the matter: My New Job It’s been about two years since I left Google following
the AdMob acquisition and as I forecast here at the
time (http://mobhappy.com/blog1/2011/03/30/on-a-
personal-note/) I’ve been practicing a portfolio career
of being a very active angel investor (Ballpark
Ventures has about 25 investments), mentoring at Springboard (soon to be TechStars), doing various
Speaking gigs and being a Non-Exec Director of a
handful of more mature UK businesses. To sum up this little role, I wrote: So, trying to draw this together in one cogent theme,
I’m planning to spend the next 10 years helping the
UK to become a world class part of the tech scene
and one which regularly produces mega-successes
like the next Twitter, the next Facebook or the next
Amazon. There’s plenty of reasons why The Valley has the advantage over us – early stage funding and
a huge natural early adopter market, are my personal
bugbears. But if we think big and harness the
creativity and talent available, I believe it’s a
realisable dream. I’m delighted to say that I’ve been offered the
opportunity to help realise this vision on a more
macro-scale, by joining the UK Government’s Venture
Capital Unit. The remit of the Unit is to help UK
companies attract funding from abroad and thus help
resolve the funding gap I was writing about above. My focus will be on tech companies, though the Unit as a
whole (headed by veteran entrepreneur Chris Wade)
embraces Clean Tech, Life Sciences and Hardware. To be quite frank, it is the only job that anyone could
have offered me that I would have accepted at this
stage in my career. It fits perfectly with my personal
mission, so when I was approached about the role it
didn’t need a lot of thinking about and I find the
opportunity to make a real difference to the UK tech scene very exciting. In the first instance, my focus will be on developing a
portfolio of the very best UK tech companies to
showcase what a fantastic place the UK already is.
And in time, my new colleagues and I will use our
best efforts to help find overseas investors, to
complement the UK investment community, to help these companies flourish. If you run such a company,
or know of anyone who should be on this prestigious
list, drop me a line here Russell AT mobhappy DOT
com and we’ll get the ball rolling. Exciting times!

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