Hamish Stevenson

We’re thrilled to share a landmark moment for us at Haylo: we have acquired Plessey Semiconductors Ltd, the UK’s leader in microLED display technology. For me, as a co-founder of Haylo, this isn’t just another deal, it’s a bold step towards shaping the future of AR/VR, optical computing, and AI-powered devices, industries set to be worth around £600bn by 2034. Over the next five years, we will: - Invest over £100m to scale from low-volume manufacturing to high-volume global production - Create and protect highly skilled jobs in Plymouth and the wider region - Build the hardware foundation for the next era of immersive, intelligent computing MicroLEDs will power the next generation of devices, from ultra-efficient AR/VR displays to optical processors that make AI faster, cooler, and far more sustainable. With Plessey’s end-to-end capabilities, world-class team, and deep IP portfolio, we’re ready to turn microLED breakthroughs into mass-market reality. This is a proud moment for me personally, for our brilliant team, our partners, and for the future of computing. And the journey is only just beginning. https://lnkd.in/ev7Hczth

208

30 Comments

The numbers tell a story, and it's not a pretty one for Rachel Reeves. UK 30-year gilt yields have hit 5.69% - the highest they've been since May 1998. That's a 27-year high. For those wondering what this actually means: gilt yields are the amount the UK govt is having to offer to borrow money. And the 30-year gilt is basically a 30-year loan so the principal is repayable in 30 years' time with interest in the meantime. Think of it like this: if you had a poor credit score, lenders would demand higher interest rates from you. The same logic applies to countries. The markets are essentially saying: "UK, we're not entirely confident in your future financial position." With the autumn budget looming, this adds serious pressure to the Chancellor's plans. Higher borrowing costs mean either less money for public services or higher taxes to balance the books. And it gets more interesting: because inflation is also going up whilst interest rates are going down (normally these would move in the same direction). What are the root causes of all this? Persistent inflation and rising public debt have spooked investors. They're demanding higher returns to compensate for what they see as increased risk. But the Bank of England is conscious that keeping interest rates where they are or raising them will weaken an already weak economy. For investors, this creates an interesting dynamic. Higher yields mean better returns on government debt - but only if you believe the UK can actually service these obligations long-term. It's a reminder that in finance, as in life, confidence is everything. And right now, the markets aren't feeling particularly confident about Britain's fiscal trajectory. The question for Reeves: how do you restore that confidence without choking off economic growth? That's the £1 trillion question. #UKEconomy #Gilts #PublicFinances #Investment

107

23 Comments

At Oxford Science Enterprises (OSE), we help transform Oxford’s world-leading science into companies with the ambition and potential to solve the world’s biggest challenges. But true global impact and scale requires access to the world's most important markets. We see it as part of OSE's role to help open up those markets for our companies early on. How? We’re building strategic international partnerships that open doors and accelerate new market entry for Oxford’s breakthrough innovations. Our ambition is to create a global network of "launchpads" to help connect Oxford’s high-growth companies with the local innovation networks, customers, partners and capital that they need to expand commercially beyond the UK.   This year, we took two important steps in that journey: in the United States and Japan. 🌏 ➡️ Earlier this year, we joined forces with leading US healthcare provider Cedars-Sinai to bring leading-edge UK health tech innovation to the all-important US market. Together, we aim to co-build and co-invest in new ventures emerging from Oxford with the potential to transform patient care, accelerating their entry and growth in the US. Our first joint investment was in Neu Health – a University of Oxford spinout developing a smartphone-based neurology care platform for Parkinson’s and dementia patients. With Cedars-Sinai’s clinical expertise and US commercial insights, Neu Health is now piloting its technology in Los Angeles, accelerating its journey to impact patients on both sides of the Atlantic.   ➡️ This month, as part of our international acceleration strategy, we’re delighted to also be partnering with Scrum Ventures and Tokyu Land Corporation to join the Sakura Deeptech Shibuya Accelerator in Tokyo. This collaboration gives our deep tech start-ups direct access to Japan’s thriving innovation and investor networks, plus workspace, mentorship, and connections to leading Japanese partners. For our portfolio, it’s a fast-track route into one of the most advanced technology markets in the world. Our ambition with these partnerships is to create a two-way street of opportunity: alongside opening pathways for our companies to commercialise globally, we also want to draw international partners and investors from those markets back into Oxford’s rapidly expanding innovation ecosystem – sparking new international collaborations and driving growth. Learn more about our Japan partnership here: https://lnkd.in/eK_9vu3U   #OxfordInnovation #GlobalLaunchpads #DeepTech #HealthTech #GlobalPartnerships #ScalingScience #BillionDollarScience

92

6 Comments

"How much do Non-Executive Directors actually get paid in SMEs?" A question I’m asked at least once a week. And while it’s tempting to say “it depends,” I’ve pulled together the most up-to-date research from across the UK market (as of mid-2025) to give a proper answer. So, if you’re joining a UK-based SME as a Non-Executive Director, you’ll typically earn between £15,000 and £40,000 per year. Of course, that varies significantly depending on size, sector, and responsibilities. Here’s a breakdown: Private SMEs (non-regulated) Typical base fee: £15,000 to £35,000 Add another £5k to £10k if you're chairing a committee. It's unusual an SME would have sub-committees. NOTE: Early-stage or founder-led SMEs may offer lower cash but include equity or options to align interests. 🧮 Larger private / AIM-listed SMEs Base fee: £30,000 to £60,000 Add-ons for committee roles or Chair duties Total income: £50,000+ is not unusual if the business is growing and complex 💳 Regulated SMEs (e.g. financial services, fintech) Base NED fee: £50,000 to £80,000 is typical. SID / Committee Chair / Risk Oversight roles: £80,000 to £100,000+ (Source: Sayer Haworth’s 2025 report) 📈 Real job market data? Glassdoor reports the average UK NED salary at: 👉 £81,243/year With the 25th percentile sitting around £58,000. That said, the lower end (e.g. £10k to £25k) is still common for SMEs, especially when time commitment is light or it's a non-remunerated "value-add" seat (common in early-stage or exit-focused businesses). So… what impacts NED pay? ✅ Company size and complexity ✅ Sector (regulation = more money) ✅ Time commitment (meetings, prep, stakeholder calls) ✅ Committee or SID roles ✅ Your experience (especially digital, ESG, M&A, or sector-specific insight) ✅ Whether you’re bringing cash or connections (some roles expect ‘skin in the game’) If you're building a portfolio career, or considering your first NED seat, this gives you a realistic view of what to expect. It’s not all about the money either - the right NED role gives you: - Access to founders/investors - Exposure to new sectors - Board-level governance experience - Optionality to invest or exit with the company If you’d like to see live examples or benchmark your own non-exec aspirations, I’m happy to share what we’re seeing across the Virtualnonexecs platform. 👉 Over 50,000 boardrooms 👉 27,000+ NEDs and Chairs 👉 Dozens of new board opportunities each week - many off-market. Happy to chat. If you are thinking of adding a non-exec to your board: https://lnkd.in/de69SinR #nonexecutive #NED #boardcareers #portfolio #privateequity #SMEboards #investingdirectors #leadership #virtualnonexecs #NEDremuneration #boardroles

44

14 Comments

Some entrepreneurs just get it done. In Aberdeen’s energy scene, Steven Gray Stuart McLeod and the team at Ventex Studio Robert Aitken, Eddie Moore, Chloe Watson, Luis Toral are ones to watch. In the past six months they have: ✅ Establish a climate tech venture studio turning existing energy businesses into net zero leaders. ✅ Made their first investments into high performance robotics and rahd.AI – repurposing oil and gas expertise for renewables and decommissioning. ✅ Built a venture model anchoring low carbon innovation and local jobs using homegrown talent. They move fast. They get stuff done. Their brand is already known and respected, and their presence on Union Street fits right into Aberdeen’s regeneration vision championed by leaders like Geoff Aberdein, Fergus Mutch Ryan Crighton Allister Thomas at True North Advisors, Bob Keiller Our Union Street and Russell Borthwick Aberdeen & Grampian Chamber of Commerce. This is a team to keep a close eye on. Big things ahead. #Energy #NetZero #Innovation #Aberdeen #Entrepreneurship #ClimateTech #CleanEnergy #VentureCapital #Decommissioning #Renewables #EnergyTransition #Startups

45

7 Comments

The Succession Gap That Puts Your Exit at Risk ... Every year, thousands of businesses shut down instead of being sold, not because they aren’t valuable, but because no one is ready to take them on. Too often, the founders have carried the weight themselves. They’ve led every deal, solved every problem, and made every big decision. When the time comes to step back, there’s no one prepared to continue. The missing piece is usually a developed layer of leadership. Without trusted senior managers who already know how to run the business, there is no obvious successor and no buyer willing to take the risk. The solution is to start early. Build senior leaders now, give them authority, and let them take on the responsibilities you usually hold. This creates resilience in the business today and a clear path for succession tomorrow. A strong team doesn’t just make the business easier to run, it makes it possible to sell when you’re ready to exit.

32

2 Comments

Brilliant to host a roundtable this week with the British Business Bank and some of the UK’s most exciting scaleups to discuss the future of growth capital in the UK. We heard encouraging plans from the BBB - more freedom to invest, take risks, write bigger cheques, and in some cases, be the first to invest. Importantly, the BBB came to listen and our founders delivered a clear, timely message ahead of this year’s Budget. Risk appetite in the UK remains a defining challenge, but significant opportunities lie ahead, and progress has been made over the last few years. Founders highlighted critical barriers across deeptech, infrastructure, procurement, and the government's industrial strategy. Some of the key themes raised: ▶️ Unlocking public sector contracts to avoid the “feast & famine” cycle must be a greater priority. ▶️ Rethinking how the UK invests in deeptech & infrastructure and sees beyond B2B SaaS opportunities. ▶️ Broadening our definition of “innovation” to back bold ideas, not just tick boxes for grant providers. ▶️ Driving corporate & CVC risk appetite to better link blue-chip companies and founders. ▶️ Aligning procurement with investment to back UK companies - US companies are selected too frequently, buy British. ▶️ Exploring the role of secondaries to accelerate growth. Thank you to Louis Taylor CBE, Kristen McLeod CBE, Stephen Welton CBE and Leandros Kalisperas from the British Business Bank and to all the founders and investors who shared their perspectives so candidly - it’s clear that if we get this right, the UK has a generational opportunity to lead.

89

15 Comments

Imagine building a business on land you don’t own. That’s the reality for most creators today. Sam Gibbon spent years at the BBC, shaping how content reached new audiences on platforms like YouTube, social media, and streaming services. So it was fitting that over breakfast, our conversation circled around the strange reality of the creator economy today. A world that promised independence, but in truth, often leaves creators more exposed than ever. You might have 10,000 followers or 10 million – but if your audience lives on someone else’s platform, it isn’t really yours. One algorithm tweak or policy shift can undo years of work. (Just ask the creators hit by Meta’s October update, when earnings collapsed by 90% almost overnight.) This is the world Sam is building against with Kulcho. Not another content platform, but an infrastructure layer – tools that give creators direct ownership of their audiences and monetisation. Quiet foundations that matter more than the spotlight. A few themes from our conversation stayed with me: - Focus beats possibility. Even if you can serve everyone, starting narrow helps you learn faster and grow stronger. - Infrastructure is underrated. The layers under the surface can be the most defensible, even if they’re not the loudest. - Ownership matters. Whether it’s content, community, or technology – holding on to what you build changes everything. We also touched on the perennial founder topic of fundraising, comparing the UK and US landscapes and what it takes to raise a strong round while building on real, early revenue. Sam left me thinking about the irony of today’s platforms. They set out to hand power back to creators, but somewhere along the way, that mission blurred. Founders like Sam are working to put it back where it belongs. Thank you as ever to Vestd for supporting our series! ----- If you're a founder keen to meet, I'd love to have breakfast with you in London. Link to waitlists are in my featured section. Naturally, I can't meet with everyone, but I'll always try to make time to speak! Breakfast with Founders 🥐

41

6 Comments

As I head back to my desk in London, I’ve noticed a few founders (often in their first year or so) have been musing/seeking advice on holidays. Here’s the nuggets I’ve collated over the last 5 years, some obvious, some less so. Also, this is through the lens of a company that is shipping SAAS. Some businesses (European enterprise SAAS) will be very similar, others (e.g. B2C Christmas decoration e-commerce) will be wildly different: 1. Holidays are good. Probably necessary. Founding a category defining company is a 10 year+ game. If you work 18/7/365 you will almost certainly burn out. There’s probably some age dependence. I’d guess a typical 22 year old coming out of investment banking could last 2-3 years like this (not long enough); someone in mid 30’s likely a year-18 months (definitely not long enough) 2. Too much holiday is bad. Your business almost certainly performs hugely worse without you. If you’re taking 10 weeks fully off a year, your business is likely dead 3. I see two principal purposes: 1. Rest (to recharge your batteries and keep the intensity going long term) 2. Spend time with loved ones (compared to a more chilled job, many founders unthinkingly lose the relationships most important to them) 4. Rest is deeply personal. Different people recharge batteries in different ways. Nailing what effective rest is for you is similarly important to other aspects of maximising the impact of how you spend your time. It’s taken me a while to crack this formula. For me: 4 days intense partying with close friends, and then a week of complete isolation and quiet with my girlfriend seems optimal (I’ve iterated this over 5 years). For me a week of road biking would be the definition of hell and probably expedite burnout (but I know this is perfection for others) 5. Timing is vital. Practically no one buys shipping software in early August. So the impact on the business of me being “off” is an order of magnitude + smaller then. Many of the shipping SAAS CEO’s I respect most were “off” at the same time. 6. Don’t expect to be off 100%. I don’t think a founder can ever be off 100%. Something will come up. It’s less stressful to accept this upfront. And make sure those you are travelling with understand. That said I think cutting workload by 70-90% is totally possible. 7. What to cut when you’re “off”: -Internal meetings, the lack of which are not blocking team members that are “on” -Internal admin, the lack of which are not blocking team members that are “on” -External admin, which will not have meaningful business consequences -New business outreach 8. Things not to cut when you’re off: -Responding to client/prospect queries/requests -Excom meetings -Any work that has a major net positive impact on the cash position of the business -Running team responses to serious issues -Answering questions from team, where the lack of an answer would block them Now time to get back to my desk!! #shipsandshipping #maritime #founder #vc #seriesA

106

13 Comments