Last month the Court of Appeal confirmed that two directors were liable for over £2 million in compensation after the dismissal of a whistleblower in their organisation, writes David Mills, partner at Mills & Reeve LLP. 

The former CEO had established that the directors concerned were behind the decision to end his employment because of protected disclosures he had made and were personally liable for his losses.

This claim would not have been possible before changes to the legislation in 2013 opened up the possibility of individuals being personally liable under whistleblowing legislation, in much the same as they have long liable been under our discrimination law. 

The employer remains jointly liable, but in this case there was an added incentive to pursue the individual directors because the company had become insolvent.

In most circumstances, the employer will remain the main target for claims, but there are some situations where its officers and employees could also be in the firing line. In this case the two directors were covered by insurance, though this did not have any influence on the Court of Appeal’s final decision.

Businesses will now wish to review their insurance arrangements to ensure that appropriate cover is in place to cover liabilities of this nature. 

It is likely to be a requirement of such cover that members of its senior management receive adequate training about their exposure to these claims, and the steps that should be taken to ensure that both they and their organisation are fully compliant with whistleblowing legislation.

• For more information, email David.mills [at] mills-reeve.com

Darktrace and Ieso Digital Health are the only two Cambridge companies to make Deloitte’s 2018 UK Technology Fast 50.

Darktrace is fourth and Ieso 42nd. The rankings show the 50 fastest-growing technology companies in the UK based on the last four years of revenue data. Over that timespan, Darktrace is shown to have grown revenue 4,829 per cent and Ieso 624 per cent.

Darktrace also achieved the accolade of Cambridgeshire and East regional winner.

Poppy Gustafsson (pictured), CEO EMEA for Darktrace, said: “To soar from a ‘Rising Star’ in 2017 to securing a top four position in the Deloitte 2018 UK Technology Fast 50 is testament to the exceptional growth Darktrace has experienced in the past year.

“Artificial intelligence is now fundamental in the battle against cyber-attackers and Darktrace is proud to be at the forefront of this change.”

Ieso Digital Health, the UK’s flagship provider of digitally-enabled mental healthcare is a winner in the Deloitte Fast 50 UK awards for the second year in a row. 

Ieso is redefining the way that mental health care is delivered by making high-quality care accessible, accountable and affordable for the first time. 

CEO Dan Clark said: “We are delighted that our commitment to making a difference in the lives of people living with mental health conditions by using powerful new technology solutions to accelerate new standards in mental health treatment and outcomes has yet again been recognised by the Deloitte Fast 50 UK awards for the second consecutive year. 

“Our digital technology is transforming people’s experience of mental health services and challenging the unacceptable boundaries between physical and mental health.

“Ieso’s consistently strong growth trajectory has been driven by our ongoing investment in world-class technology, an exceptional team, unique mental health data science insights and our growing network of outstanding clinicians all of which is enabling faster and more convenient access to evidence-based mental healthcare.”

Darktrace and Ieso Digital Health are the only two Cambridge companies to make Deloitte’s 2018 UK Technology Fast 50.

Darktrace is fourth and Ieso 42nd. The rankings show the 50 fastest-growing technology companies in the UK based on the last four years of revenue data. Over that timespan, Darktrace is shown to have grown revenue 4,829 per cent and Ieso 624 per cent.

Darktrace also achieved the accolade of Cambridgeshire and East regional winner.

Poppy Gustafsson (pictured), CEO EMEA for Darktrace, said: “To soar from a ‘Rising Star’ in 2017 to securing a top four position in the Deloitte 2018 UK Technology Fast 50 is testament to the exceptional growth Darktrace has experienced in the past year.

“Artificial intelligence is now fundamental in the battle against cyber-attackers and Darktrace is proud to be at the forefront of this change.”

Ieso Digital Health, the UK’s flagship provider of digitally-enabled mental healthcare is a winner in the Deloitte Fast 50 UK awards for the second year in a row. 

Ieso is redefining the way that mental health care is delivered by making high-quality care accessible, accountable and affordable for the first time. 

CEO Dan Clark said: “We are delighted that our commitment to making a difference in the lives of people living with mental health conditions by using powerful new technology solutions to accelerate new standards in mental health treatment and outcomes has yet again been recognised by the Deloitte Fast 50 UK awards for the second consecutive year. 

“Our digital technology is transforming people’s experience of mental health services and challenging the unacceptable boundaries between physical and mental health.

“Ieso’s consistently strong growth trajectory has been driven by our ongoing investment in world-class technology, an exceptional team, unique mental health data science insights and our growing network of outstanding clinicians all of which is enabling faster and more convenient access to evidence-based mental healthcare.”

Darktrace and Ieso Digital Health are the only two Cambridge companies to make Deloitte’s 2018 UK Technology Fast 50.

Darktrace is fourth and Ieso 42nd. The rankings show the 50 fastest-growing technology companies in the UK based on the last four years of revenue data. Over that timespan, Darktrace is shown to have grown revenue 4,829 per cent and Ieso 624 per cent.

Darktrace also achieved the accolade of Cambridgeshire and East regional winner.

Poppy Gustafsson (pictured), CEO EMEA for Darktrace, said: “To soar from a ‘Rising Star’ in 2017 to securing a top four position in the Deloitte 2018 UK Technology Fast 50 is testament to the exceptional growth Darktrace has experienced in the past year.

“Artificial intelligence is now fundamental in the battle against cyber-attackers and Darktrace is proud to be at the forefront of this change.”

Ieso Digital Health, the UK’s flagship provider of digitally-enabled mental healthcare is a winner in the Deloitte Fast 50 UK awards for the second year in a row. 

Ieso is redefining the way that mental health care is delivered by making high-quality care accessible, accountable and affordable for the first time. 

CEO Dan Clark said: “We are delighted that our commitment to making a difference in the lives of people living with mental health conditions by using powerful new technology solutions to accelerate new standards in mental health treatment and outcomes has yet again been recognised by the Deloitte Fast 50 UK awards for the second consecutive year. 

“Our digital technology is transforming people’s experience of mental health services and challenging the unacceptable boundaries between physical and mental health.

“Ieso’s consistently strong growth trajectory has been driven by our ongoing investment in world-class technology, an exceptional team, unique mental health data science insights and our growing network of outstanding clinicians all of which is enabling faster and more convenient access to evidence-based mental healthcare.”

In the last 18 months Cambridge Capital Group (CCG) members have invested more than £5 million into a new portfolio of exciting technology ventures, writes Struan McDougall, chairman of Cambridge Capital Group. 
 
Our activity levels have doubled in the last few years both in terms of investors accessing deal flow and the number of new businesses we support, highlighting the continuing development of the Cambridge cluster and attraction of sophisticated investment.

Key sectors are Medtech, Robotics & Agritech, LegalTech, Biotechnology, VR & Mixed Reality, Spacetech, Cybersecurity, Business travel and Education platforms, Cambridge university spinouts in sensors and battery technology, and Electric Vehicle technology.

We co-invest with other leading players in the early-stage investment market in Britain, including angel networks, seed funds and family offices.  Our international members complement the activities of regional members with co-investment and joint events in both Cambridge and the Channel Islands. 

2016 was a stellar year for our members with four trade sale exits and our best performing portfolio companies are on track to produce similar results in the near future.

Cambridge Capital Group is a business angel network of private investors, family offices and venture funds that have been investing in startups in the Cambridge hi-tech cluster for 18 years. 

Our group has over 80 highly successful members from a variety of backgrounds ranging from finance, technology and commerce to life sciences, agriculture and engineering including two UKBAA Investors of the Year. 

Individual members invest from £10k to 500k into screened and qualified opportunities via a collaborative process.

We are supported by several corporate and VC funds investing in early-stage tech, and have a range of outstanding corporate sponsors such as Taylor Vinters, PwC, Gill Jennings & Every, Signia Wealth and Bailey Fisher.

CCG’s objective is to support the best early-stage technology ventures emanating from Europe’s leading hi-tech super-cluster – Cambridge, London, Oxford – the so-called Golden Triangle. 

Our investors come together at quarterly members-only pitching events in historic college venues to view a selection of screened investment opportunities. Members also have full access to our online deal portal where new opportunities are regularly uploaded.

We invest in early-stage B2B businesses, with strong intellectual property and have a portfolio of more than 70 hi-tech businesses at different stages of development. 

We provide seed, start-up and early-growth investment opportunities to our members under EIS and SEIS. Cambridge Capital Group is a long-standing syndicate member of the UK Business Angels Association.

cambridgecapitalgroup.co.uk/

The Cambridge Cluster has seen another year of growth in both the number and value of deals completed, with over £700 million invested in more than 120 deals in the year to October 2018, according to Beauhurst, more than double that achieved in 2017.

The scale of this investment activity reflects the high quality of the many exciting businesses forming and flourishing in our Cluster, writes Victor Christou, CEO of Cambridge Innovation Capital. 

A significant proportion of these businesses are built on the Cluster’s strengths in particular areas of deep technology – robotics, genomics, artificial intelligence, sound recognition, Internet of Things and next generation biologic therapeutics. 

Cambridge Innovation Capital (CIC) was established to provide the investment and expert support needed for such technologies to develop to commercial maturity. CIC has now invested over £100 million in 24 companies that reflect the strengths of the Cluster. 

Robotics coming of age

Over the last year, we have continued to support our portfolio, including participating in the largest investment of the year in Cambridge. In June 2018, CMR Surgical secured $100 million to advance its robotic system Versius, designed for minimal access surgery, through regulatory approvals, into scale-up and commercial sales. 

Minimal access surgery is physically tiring, and the use of robotics can accelerate training and increase productivity of surgeons. Versius has been designed to mimic the human arm, with the surgeon using controllers, similar to a gaming console, to control it. Versius will provide hospitals with a flexible, value for money robotic solution to improve patient outcomes.

The place to be for sound technology

Cambridge has established a reputation as a world-leading centre for sound technology development. This has been endorsed by the acquisitions of Evi by Amazon, with its technology now incorporated in Alexa, and VocalIQ and Entropic, which were acquired by Apple and Microsoft, respectively. 

Many global technology companies now actively scout in Cambridge for sound and speech technology development capabilities that can give them a lead over their competitors and several have based dedicated development teams here. The creation of AudioTelligence, for which CIC led the initial £3.1 million funding round in September 2018, is the latest in the long heritage of cutting edge sound-focused companies.  

Loud background noise makes it difficult to hear or understand a conversation: not just a problem for humans but also for voice activated devices. 

AudioTelligence has developed a software-based solution to separate speech from background noise that can be cost-effectively integrated into consumer products for the smart home and hearing assistance.

Cluster maturing 

AudioTelligence is a spinout of CEDAR Audio, itself a spinout from the University of Cambridge, demonstrating that the Cluster is maturing and now creating offspring from mature businesses that have grown within it. 

It also illustrates that companies may need space to pivot or reinvent themselves to meet evolving market opportunities. Supporting a company to make this change requires understanding investors who appreciate deep tech. 

Entrepreneurs such as William Tunstall-Pedoe, founder of Evi and a member of CIC’s Advisory Panel, are invaluable in providing expert guidance to such companies. 

Forefront of artificial intelligence

Artificial intelligence is another area in which Cambridge technology leads the world. SWIM.AI, a business founded in Silicon Valley, has opened a research office in Cambridge to capitalise on this expertise. 

CIC led a $10 million Series B funding in the summer to help SWIM.AI implement its strategy. The company is at the forefront of edge computing, which enables real-time analysis of streaming data on ‘edge’ devices such as traffic controllers and smart meters. 

SWIM’s technology can optimise controls in, for example, smart cities and digital manufacturing where machine learning algorithms can identify issues before they arise. 

CIC’s investment in SWIM.AI complements other artificial intelligence companies in our portfolio. 

Geospock, a developer of extreme data management technology used to manage smart cities and transportation systems, raised £5 million in February 2018 and Undo, which de-risks software development, raised $14 million in July 2018. 

Strong business models 

This year has shown that Cambridge entrepreneurs are continuing to create companies with all the potential to be globally important businesses in the future. We are excited by the breadth and quality of high-tech businesses developing in the Cluster and look forward to continuing our pivotal role in the development of the best of these in the future.

The Raspberry Pi Foundation in Cambridge is part of a consortium that has secured more than £78 million in government funding to make sure every child in every school in England has access to a world-leading computing education.

Working with its partners, STEM Learning and the British Computer Society, Raspberry Pi – creator of a globally successful micro computer, will establish a new National Centre for Computing Education and deliver a comprehensive programme of support for computing teachers in primary and secondary schools. This will include resources, training, research, certification and much more.

All of the online resources and courses will be completely free for anyone to use. Face-to-face training will be available at no cost to teachers in priority schools and at very low cost to teachers in other schools. 

Raspberry Pi will also provide bursaries to ensure that schools can release teachers to take part in professional development. Raspberry Pi says this level of investment in computing education is unprecedented anywhere in the world. It is a once-in-a-generation opportunity to transform the way we teach computing and computer science.

The announcement follows the Royal Society’s report from last November, which drew attention to the scale of the challenge. The report was quickly followed by a commitment from the Chancellor in last year’s Budget statement that the Government would invest £100 million in computing education across the UK.

Earlier this year, the Department for Education launched a procurement process focused on England and today’s announcement is the outcome of that process.

The consortium has been tasked with delivering three pieces of work:-
• A National Centre for Computing Education, which will establish a network of Computing Hubs to provide continuing professional development (CPD) and resources for computing teachers in primary and secondary schools and colleges. The centre will also facilitate strong links with industry
• A teacher training programme to upskill existing teachers to teach GCSE Computer Science
• A programme to support AS- and A-level Computer Science students and teachers with high-quality resources and CPD.

The consortium brings together subject expertise and knowledge, significant experience of creating brilliant learning experiences and resources, and a track record of delivering high-quality professional development for educators. 

Raspberry Pi is working with the University of Cambridge team that created Isaac Physics to adapt and extend that platform and programme to support teachers and students of Computer Science A Level.

Google has provided practical support and a grant of £1 million to help Raspberry Pi create free online courses that will help teachers develop the knowledge and skills to teach computing and computer science.

Raspberry Pi says: “We’re working with the Behavioural Insights Team to make it as easy as possible for teachers to get involved with the programme, and with FutureLearn to provide high-quality online courses.

“We’ll also be working in partnership with industry, universities, and non-profits, pooling our expertise and resources to provide the support that educators and schools desperately want. 

“That’s not just a vague promise. As part of the bid process, we secured specific commitments from over 60 organisations who pledged to work with us to make our vision a reality. Over the coming weeks we’ll be sharing more about our plans. In the meantime, here’s how you can get involved.

“We are proud that the Raspberry Pi Foundation will be playing its part in transforming computing education in England. But our mission is global and our commitment is that the resources and online courses we create will be freely available to anyone, anywhere in the world.”

• Image courtesy – The Raspberry Pi Foundation

In my pre-Budget commentary I made the point that Phillip Hammond was facing two major problems in deciding what measures to implement in his Autumn Budget; the looming threat of Brexit, and the need to deal with the deficit whilst also attempting to honour Theresa May’s proclamation that austerity was coming to an end – writes James Francis, Partner, Ensors Chartered Accountants.

I also made the point that the Chancellor might try to avoid these issues by essentially deferring them until after Brexit negotiations have been finalised, and the UK has actually left the EU. This appears to be precisely what he has done.

This was made clear most starkly in his comments the day before the Budget, that if there was a ‘no-deal’ Brexit, a new budget would be required. This effectively means that all of the measures the Chancellor announced on Monday are contingent on some form of deal being reached between the UK and the EU. 

Whilst some may view this as something of a ‘cop-out’, it seems to me that this is only sensible, as the UK leaving without a deal would have many immediate (and even more long term) implications that would have to be dealt with by the government. 

By flagging this up now Mr Hammond is giving himself room to manoeuvre, allowing him to make changes that would be needed in such a scenario in order to reassure and support the economy.

Much of the media reporting of the Budget has highlighted an apparent ‘spending spree’ by the Chancellor but this is only somewhat borne out by a closer reading of the facts. 

It is true that NHS funding has been increased, money has been announced for potholes, income tax thresholds have been raised and the Armed Forces budget has been expanded, amongst other things. 

However, many of these were measures that had already been announced (NHS funding), were bringing forward future commitments (income tax thresholds), or are being paid for out of funds already allocated (potholes). 

Nevertheless, it is fair to say that Mr Hammond has definitely spent more here than many predicted (including myself) and has moved towards to an ending of austerity and away from a balancing of the books. 

This is further reinforced by the fact that (not unexpectedly) relatively little was announced in terms of increasing tax revenues, the only significant item being the new digital services tax.

In terms of the economy generally the news was mixed. On the one hand the growth forecast for 2018 was decreased from 1.5 per cent to 1.3 per cent, a disappointing outcome apparently caused by poor weather in the spring. More positively the forecast for 2019 was increased from 1.3 per cent to 1.6 per cent and for 2020 from 1.3 per cent to 1.4 per cent. 

Despite these revised figures the UK continues to lag behind other major western economies such as Germany (1.9 per cent) and the USA (2.9 per cent), and there is little prospect of this changing in the near future, especially with the uncertainty surrounding Brexit.  

Overall, this was a relatively safe budget that was clearly designed to provide reassurance to stock markets and outside investors whilst introducing a few modest and popular measures that would take advantage of the unexpectedly lower public borrowing figures for 2018. 

The Chancellor, as with many people and businesses across the country, appears to be putting off any major decisions while he waits to see how Brexit finally plays out.   

ensors.co.uk

In my pre-Budget commentary I made the point that Phillip Hammond was facing two major problems in deciding what measures to implement in his Autumn Budget; the looming threat of Brexit, and the need to deal with the deficit whilst also attempting to honour Theresa May’s proclamation that austerity was coming to an end – writes James Francis, Partner, Ensors Chartered Accountants.

I also made the point that the Chancellor might try to avoid these issues by essentially deferring them until after Brexit negotiations have been finalised, and the UK has actually left the EU. This appears to be precisely what he has done.

This was made clear most starkly in his comments the day before the Budget, that if there was a ‘no-deal’ Brexit, a new budget would be required. This effectively means that all of the measures the Chancellor announced on Monday are contingent on some form of deal being reached between the UK and the EU. 

Whilst some may view this as something of a ‘cop-out’, it seems to me that this is only sensible, as the UK leaving without a deal would have many immediate (and even more long term) implications that would have to be dealt with by the government. 

By flagging this up now Mr Hammond is giving himself room to manoeuvre, allowing him to make changes that would be needed in such a scenario in order to reassure and support the economy.

Much of the media reporting of the Budget has highlighted an apparent ‘spending spree’ by the Chancellor but this is only somewhat borne out by a closer reading of the facts. 

It is true that NHS funding has been increased, money has been announced for potholes, income tax thresholds have been raised and the Armed Forces budget has been expanded, amongst other things. 

However, many of these were measures that had already been announced (NHS funding), were bringing forward future commitments (income tax thresholds), or are being paid for out of funds already allocated (potholes). 

Nevertheless, it is fair to say that Mr Hammond has definitely spent more here than many predicted (including myself) and has moved towards to an ending of austerity and away from a balancing of the books. 

This is further reinforced by the fact that (not unexpectedly) relatively little was announced in terms of increasing tax revenues, the only significant item being the new digital services tax.

In terms of the economy generally the news was mixed. On the one hand the growth forecast for 2018 was decreased from 1.5 per cent to 1.3 per cent, a disappointing outcome apparently caused by poor weather in the spring. More positively the forecast for 2019 was increased from 1.3 per cent to 1.6 per cent and for 2020 from 1.3 per cent to 1.4 per cent. 

Despite these revised figures the UK continues to lag behind other major western economies such as Germany (1.9 per cent) and the USA (2.9 per cent), and there is little prospect of this changing in the near future, especially with the uncertainty surrounding Brexit.  

Overall, this was a relatively safe budget that was clearly designed to provide reassurance to stock markets and outside investors whilst introducing a few modest and popular measures that would take advantage of the unexpectedly lower public borrowing figures for 2018. 

The Chancellor, as with many people and businesses across the country, appears to be putting off any major decisions while he waits to see how Brexit finally plays out.   

ensors.co.uk

In my pre-Budget commentary I made the point that Phillip Hammond was facing two major problems in deciding what measures to implement in his Autumn Budget; the looming threat of Brexit, and the need to deal with the deficit whilst also attempting to honour Theresa May’s proclamation that austerity was coming to an end – writes James Francis, Partner, Ensors Chartered Accountants.

I also made the point that the Chancellor might try to avoid these issues by essentially deferring them until after Brexit negotiations have been finalised, and the UK has actually left the EU. This appears to be precisely what he has done.

This was made clear most starkly in his comments the day before the Budget, that if there was a ‘no-deal’ Brexit, a new budget would be required. This effectively means that all of the measures the Chancellor announced on Monday are contingent on some form of deal being reached between the UK and the EU. 

Whilst some may view this as something of a ‘cop-out’, it seems to me that this is only sensible, as the UK leaving without a deal would have many immediate (and even more long term) implications that would have to be dealt with by the government. 

By flagging this up now Mr Hammond is giving himself room to manoeuvre, allowing him to make changes that would be needed in such a scenario in order to reassure and support the economy.

Much of the media reporting of the Budget has highlighted an apparent ‘spending spree’ by the Chancellor but this is only somewhat borne out by a closer reading of the facts. 

It is true that NHS funding has been increased, money has been announced for potholes, income tax thresholds have been raised and the Armed Forces budget has been expanded, amongst other things. 

However, many of these were measures that had already been announced (NHS funding), were bringing forward future commitments (income tax thresholds), or are being paid for out of funds already allocated (potholes). 

Nevertheless, it is fair to say that Mr Hammond has definitely spent more here than many predicted (including myself) and has moved towards to an ending of austerity and away from a balancing of the books. 

This is further reinforced by the fact that (not unexpectedly) relatively little was announced in terms of increasing tax revenues, the only significant item being the new digital services tax.

In terms of the economy generally the news was mixed. On the one hand the growth forecast for 2018 was decreased from 1.5 per cent to 1.3 per cent, a disappointing outcome apparently caused by poor weather in the spring. More positively the forecast for 2019 was increased from 1.3 per cent to 1.6 per cent and for 2020 from 1.3 per cent to 1.4 per cent. 

Despite these revised figures the UK continues to lag behind other major western economies such as Germany (1.9 per cent) and the USA (2.9 per cent), and there is little prospect of this changing in the near future, especially with the uncertainty surrounding Brexit.  

Overall, this was a relatively safe budget that was clearly designed to provide reassurance to stock markets and outside investors whilst introducing a few modest and popular measures that would take advantage of the unexpectedly lower public borrowing figures for 2018. 

The Chancellor, as with many people and businesses across the country, appears to be putting off any major decisions while he waits to see how Brexit finally plays out.   

ensors.co.uk