The Great British Startups Cup 2014: The Final
Hotly anticipated, this is the climax of a month-long festival of new businesses, the final of the 'Start-ups World Cup'. But who will take it, YPlan or Seedrs? Find out now...
Referees: Oli Barrett and Doug Richard
See the full judging criteria
FINAL: YPLAN V SEEDRS
62 games, high scores, shock exits, and it all came down to this. Not the World Cup Final between old foes Argentina and Germany, but this, the Great British Startups Cup.
As the reigning Simply Business Startups Business of the Year YPlan may have been much-fancied coming into the tournament, but after seeing big names and great businesses such as Crowdcube, Adzuna, and Cadence Performance fall in the group stages the Great British Startups Cup has been anything but predictable.
Seedrs too have gained a strong reputation as a go-to place for ambitious young businesses seeking early-stage finance and raised their own record-breaking round of £2.58m from 900 investors. Inevitably, the game was a sell-out with both known for their crowd-pulling.
A tight, but high-scoring first half saw Seedrs’ slick pitch put the alternative finance firm into the lead. And a goal assist from YPlan’s fans helped them bundle in from close range to help them avoid Seedrs extending their lead thanks to social presence. Nevertheless, Seedrs went into the break with an important edge.
HALF TIME SCORE: 3-4
|Referee’s comments: YPlan|
“YPlan is not, as it turns out, the latest diet sweeping North America. It is, in fact, a thoroughly well (to the tune of $12m) backed start-up from Britain. And an impressive one at that. Describing itself as “tonight’s going out app”, this is all about seizing the moment (Y plan, when you can be spontaneous? Get it? Keep up at the back!). The app (which is available on android) is good-looking and easy to use, making great play of being able to “pay in two taps”. With half a million downloads in Britain and the US, they score highly across the board and must be seen as a hot favourite in this year’s championship.”
The second half followed a similar pattern. No quarter given with both squads showing great depth, demonstrating the teams’ economic strength. While YPlan boast more than 50 on their roster to Seedrs’ more conservative 20-plus, referees Oli Barrett and Doug Richard proved equally impressed.
Moving into the final stages of a spellbinding final, it was Seedrs 7.5% success fee from entrepreneurs’ fundraisings allied with another fee of 7.5% of proceeds above the initial investment if investors are paid a dividend or exit that helped Seedrs extend their lead.
While clearly impressed, referee Barrett was more officious in his judgement of the commission-based model whereby YPlan takes between 10% and upwards of 30% for every event ticket sold through partners.
You could see both sides were close to spent, heavy-legged after a month of firing on all cylinders to chase the cup. There was little left in the tank and with Seedrs holding a two-goal lead the sense that this festival of business was coming to an end was tangible.
What a month it’s been and both sides’ performances will live long in the memory. We’ll definitely be seeing a lot more of these teams in the coming years as the key market players mature, but there could only be one winner and it was to Seedrs the spoils.
FINAL SCORE: 5-7
|Referee’s comments: Seedrs|
“Seedrs, which allows startups to seek early stage investment from angels, helps entrepreneurs, investors, and the economy grow. I like that their minimum investment is very low, that they don’t charge start ups a fee to seek investment, provide active support in preparing the legal documentation required to raise a round of financing, and that they have expanded in to Europe.”
|Social presence||4 + 1 Goal assist||5|
Seedrs are this year’s champions.