Technology startups with innovative digital solutions to transform and automate the public sector are being given the chance to partner with the UK’s largest business services company to turbocharge their growth.
The TechMarketView Innovation Partner Programme (TIPP) has once again teamed up with Capita Scaling Partner, the corporate venture unit of Capita plc, to find startup and scaleup companies delivering game-changing solutions. Applications are now open for eligible firms ahead of a pitch event in March.
The successful company will join the Capita Scaling Partner (CSP) portfolio in a unique equity-for services model, ensuring mutual success and business growth. Since 2018, CSP has earned an esteemed reputation for scaling tech startups by providing full-time, dedicated employees to open new sales channels and widen networks in both public and private sectors. As a result, companies within the CSP portfolio see an average growth per annum of over 200%.
Matt Bunn, Co-Founder and Managing Director of CSP, said: “It’s extraordinarily difficult for startups to work with the public sector. As a leading partner to Government at a local and national level, Capita has a huge amount of value to add to scaleups with the ambition of winning business in the public sector. Our unique engagement model, along with the quality of our people and the access they provide, has fuelled the growth of the fantastic firms in our portfolio. Alongside this, the benefits to Government working with SME’s is clear, they offer innovative solutions and cutting-edge technology at a fraction of the cost to develop a similar solution in-house.”
Anthony Miller, Managing Partner at TechMarketView, added: “We have worked with Capita Scaling Partner since 2018 and have witnessed how their innovative partnership model has proven an effective alternative to VC funding in unlocking the potential of startups and scaleups.”
The deadline for applications is the 24th of February 2023. Eligible firms must have a B2B, digital solution for the UK public sector offering transformation and automation. It must also have established use cases and a strong desire to grow, with annualised recurring revenue between £150,000 and £2 million.
One of the success stories from the CSP portfolio is OBRIZUM, a cloud-based adaptive learning platform allowing organisations to create, deliver and monitor online learning. Since signing the partnership 18 months ago, OBRIZUM has seen Annualised Recurring Revenue (ARR) grow by 15 times. The Cambridge-based firm has had more than 300 qualified introductions resulting in contracts with Capita clients including Tesco Mobile, BSI and Gas Safe Register.
Another example is Distributed, an AI-powered platform of fully managed, globally distributed software developers and data engineers. In the first 22 months of the partnership, Distributed has seen 26x run rate growth. The solution has been integrated into three multi-million pound public sector Capita bid submissions, while securing Capita as its first corporate client, enabling them to gain credibility among other large enterprises.