Exeter Science Park welcomes disruptive technology firm
A venture technology firm which supports disruptive, fast-growth technology start-ups has experienced accelerated growth itself since relocating to Exeter Science Park Centre.
The 25 year old co-founder of Koncept, Jonathan Melhuish-Sprague, says that since moving into the Exeter Science Park Centre this summer, the support and collaboration opportunities available, have helped to increase his portfolio by more than 50%.
In return for an equity share in a start-up business, Koncept invests significant time and resources, helping to create a minimum viable product (MVP) that is ready for industry testing. Koncept then helps to put the product in front of suitable investors and develop a market plan and digital strategy in preparation for the product launch.
“Disruptive” innovation is driving a number of significant market changes. Koncept is working with start-ups that are developing and adapting technologies that will disrupt a variety of existing markets, including video streaming and sector specific recruitment.
Jonathan Melhuish-Sprague launched Koncept earlier this year with business partner and co-Founder, Tycho Luyben, choosing to move their business to Exeter Science Park because of the prime location and the desire to surround themselves with like-minded businesses. Jonathan launched his first business venture aged 14 and has already notched-up significant business successes having run an IT development company.
Jonathan hopes that being based at the Science Park Centre will provide him with the environment and connections he needs to grow his business. He is already working with the Science Park Centre Entrepreneur in Residence, Stewart Noakes, who was so inspired by the business model that he has now become a partner and is helping to shape the long term strategy.
Jonathan explained: “The advice I have received and the connections I’ve made since being at Exeter Science Park have been invaluable. Being surrounded by like-minded people and innovative businesses has been a catalyst for us, it’s motivated us to do more and aim a little bit higher. We’ve also had a lot of support from staff and other tenants which has helped us to grow more confident as a business and we met Stewart here, our new business partner, which has helped us to focus on plans for the future.
He continued: “It’s a much more relaxed working environment than my previous base and it has more of a tech ethos. I’m not in the right frame of mind for innovation when I am wearing a suit and tie - it’s too stiff and puts up barriers, so it’s refreshing to be in a workspace that is open to creativity and originality.”
Koncept is already working on some exciting new projects with a variety of start-ups and entrepreneurs such as PoGo, a new social polling app being designed by a group of students from the University of Exeter. There are 14 companies currently within the portfolio, with four businesses at the investment stage including Beatstream, a free live music and entertaining streaming app that is now available for bars and clubs across the UK to stream their live music events.
Gerry Shattock, General Manager of Exeter Science Park said: “Jonathan and his team are great tenants for the Science Park Centre. They are inspiring entrepreneurs with aspirations to grow their business and eventually employ a bigger team of people. Their business objectives match perfectly with the aim of Exeter Science Park in promoting collaboration and moving business ideas through to revenue streams.”
Jonathan added: “There’s a real lack of technology start-up ideas and businesses in the local area. When people do have good ideas, they often migrate to the bigger cities like London or Manchester where they think there is more chance of success, but this isn’t always the case.
“At Exeter Science Park we’re extremely well connected with all of the major UK cities and with Europe, thanks to the airport, M5 and mainline railway. We also benefit from cheaper living costs and an excellent lifestyle with the coast and countryside right on our doorstep. Exeter is the perfect city for technology start-ups.”
Jonathan would like to see Koncept grow at Exeter Science Park Centre to produce between 25 and 50 quality MVPs every year, eventually using the money they make from selling their shares in the MPVs to create their own investment fund.
For more information about the Exeter Science Park Centre, visit www.exetersciencepark.co.uk or call 01392 722 226 or follow the Exeter Science Park on Twitter @ExeterSciencePk.
Koncept are continually looking to expand their pool of investors. If you would be interested in working with Koncept, please contact Jonathan on 01392 248413. Visit www.koncept.co.uk to find out more or follow the team on Twitter @madebyKoncept
