Last week, the UCL School of Management, in association with the UCL Institute of Ophthalmology and the UCL Venture Capital & Private Equity Club, hosted a guest lecture by Jeff Lynn, Founder of the equity crowdfunding platform Seedrs. Launched in 2012, Seedrs revolutionised the startup investment landscape by becoming the first regulated equity crowdfunding firm in Europe. To date, Seedrs has facilitated over £2.8 billion in investments across more than 2,200 deals, with notable successes including fintech giant Revolut.
Jeff Lynn’s vision of democratising venture capital has ignited a startup investment revolution, enabling countless businesses worldwide to secure much-needed funding. The guest lecture offered a deep dive into founding a disruptive business, crowdfunding, and the resilience required in entrepreneurship. Key discussion points included:
- The importance of both “finding out” and planning is crucial in the entrepreneurial journey. Planning for the startup stage can be challenging, especially in terms of time. Initially, Lynn thought it would only take a few months for Seedrs to be regulated, but it ended up taking several years. Embracing the non-linear discovery process for your business and managing the associated variability is more beneficial than solely relying on detailed forecasting.
- The importance of understanding the nature of resistance to a new idea (i.e. dealing with constraints). When Seedrs was seeking approvals from the authorities, he listened carefully to all the stated reasons for rejection. Some people seemed to be holding onto a traditional investment model from the Victorian era. This model suggests that investment should come from friends, family, and angel investors who have resources. Seedrs’ approach to making investment access more open and democratic was too different from their traditional view of how investment should work.
- The many roles of regulations. Rather than being a constraint, regulation is a necessary control on the creative disruption of innovative businesses. Regulation is crucial for building trust and signaling safety and integrity to potential collaborators. However, regulators and policy-makers often struggle to keep up with the rapid pace of technological change. Lynn addresses this challenge directly through Startup Coalition, an organisation he chairs and co-founded. The organisation acts as a collective voice for technology start-ups in their interactions with the government.
Fiona Reid, Deputy Director for Innovation at the UCL Institute of Ophthalmology, commented: “This session with Jeff Lynn offered a blend of practical advice and inspirational storytelling. There is a special kind of resilience needed for disruptive businesses. A business that creates a revolution involves patience, pragmatism and understanding that the entrepreneur is acting to shape the environment into which the innovation will work, as much as the innovation itself. There seem to be similarities between fintech disruptors like Seedrs and the ‘othering’ attitudes towards digital health we sometimes see in healthcare.”
Pierre-Jean (PJ) Hanard, School Lead for Entrepreneurship at the UCL School of Management, added: “Jeff Lynn is not only a pioneer through his work with Seedrs but also an enabler in the startup ecosystem. By supporting emerging tech businesses and fostering an inclusive investment culture, Jeff has significantly contributed to the growth and dynamism of the startup community. His insights and experiences provide invaluable lessons for aspiring entrepreneurs. This collaboration also creates opportunities for students from both the School of Management and the Institute of Ophthalmology to mix and network, enhancing their learning and professional development.”
His experiences and advice will undoubtedly inspire the next generation of entrepreneurs to pursue their visions with determination and creativity. For more information about upcoming events and initiatives at the UCL School of Management, please visit UCL School of Management’s events page.