Inicio.ai wins £1.35m in One To Win pitch competition

By Molly Matthews

1 minute 57 seconds

Press Release

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Quick Read: Inicio.ai, a fintech tech startup based in the West Midlands has been awarded £1.35 Million at Birmingham Tech Week’s Tech Awards as part of the One To Win pitch competition. One to Win is spearheaded by TechWM, Rigby Group plc, SCC, Haatch, and the West Midlands Co-Invest Fund (delivered through Midven, part of Future Planet Capital), and boasts the largest single prize for any pitch competition in the UK.

Four months after the competition was announced at London Tech Week, Inicio AI, the home of Budgie AI, a virtual agent that provide consumers with financial support without fear or embarrassment of waiting to speak to a human agent has been picked as the region’s most promising start-up business. Backed by leading investors, stakeholders, and key tech players, the pitch competition demonstrates the belief in the region’s ability to become a global tech superpower and shines a light on the region’s vibrant and thriving tech sector on the national stage.

Inicio.ai was part of a shortlist of three West Midlands based startups including ChangeMaker3D, a 3D concrete printing company aiming to reduce carbon emissions and material costs; Skyfarer, a startup focusing on revolutionising the use of drones, particularly for medical uses.

The four finalists pitched on Wednesday 23 October to a panel of judges including Steve Rigby, CEO of Rigby Group plc; Yiannis Maos MBE, CEO of TechWM; Fred Soneya, Co-founder and General Partner at Haatch; Charlie Weavers-Wright, B2B SaaS Investor at Haatch; Hephzi Pemberton, Founder and Chair of Equality Group; and, Rupert Lyle, Fund Principal at West Midlands Co-Investment Fund. Together, this panel were looking out for the West Midlands business that’s demonstrating game-changing innovation and is on track to further impressive growth.

The initiative is also set to support those from the region who didn’t meet the entry criteria, offering alternative support: including opportunities for trade missions; investor connections; access to mentors and workshops; guidance on accelerators and incubators; and links to corporate innovation programmes.

Yiannis Maos MBE, Founder, Birmingham Tech Week and CEO TechWM commented:

“The One to Win competition is a testament to our ongoing efforts to nurture, support and promote the thriving tech ecosystem in the West Midlands. We firmly believe that our region is a hidden gem in the global tech landscape, and we’ve been working tirelessly to showcase its immense potential.

“Innovative initiatives like One to Win provide invaluable platforms for local startups to shine. Thanks to the generous support of our stakeholders, partners, and sponsors, we’re able to offer the winner a life-changing opportunity to receive the UK’s largest pitch competition prize.

“This win is not only a significant milestone for the winner but also a testament to the region’s growing reputation as a hub for tech innovation.”

Steve Rigby added:

“Congratulations to the winner on their well-deserved success, I look forward to following their progress. I also wish the very best to the other finalists, who I am sure will achieve great things. One to Win has shown that the West Midlands is home to some great entrepreneurial tech talent and I hope that this fantastic competition will create some momentum to encourage other entrepreneurs and investors to find success in our region.”

What's new

TechWM Announces Change In CEO, Appointing Tech Expert As Successor

Since being founded by Yiannis in 2019 , the organisation has helped businesses raise over £100 million and inspired thousands of people to get into the tech sector. It has also become known for its most popular showcase event, Birmingham Tech Week, the UK’s largest regional tech festival .

Sharing why now is the right time for a change in leadership, Yiannis Maos MBE shared:

“Having hosted our sixth Birmingham Tech Week in October – the largest to date – it feels right to scale TechWM. It's been an amazing journey, starting with a simple desire to make the tech ecosystem more accessible and evolving into a strategic force for growth.
I’m proud of our journey, from 5,000 attendees at our first Tech Week to recent recognition from giants like IBM and a visit from the Secretary of State. This fuels our ambition to reach a £100 billion tech sector by 2030 and solidify our narrative: 'Making Tech Succeed In The Most Human of Places.
As we transition to CEO leadership, our focus will be strategy, innovation, and preserving our agile spirit. We'll continue creating opportunities for local talent, ensuring they don't need to move to London. This is about building a thriving, collaborative community, recognising our collective strength is key to unlocking the West Midlands' tech potential.”

Photo (l-r): Jason Sahota, Andy Hague, & Yiannis Maos MBE

Stepping into the role is Andy Hague, a tech entrepreneur and board member with over 20 years of experience in leading teams to success. As an expert in cybersecurity, with in-depth knowledge and understanding of investment funding, Hague will see the start of a new era of growth for the West Midlands tech ecosystem, as AI and cybersecurity continue to thrive.

With the new year bringing new beginnings for TechWM, Andy expresses his excitement for joining the organisation:

“Leading TechWM, an organisation aligned with my values and my work throughout the last two decades, became an irresistible opportunity after my recent work in industry and government. My priority is maintaining TechWM's momentum and strategically focusing the team's immense dedication to maximise impact. Strengthening their "can-do" reputation is vital for solidifying TechWM as the key player in public-private tech partnerships.
Yiannis's remarkable legacy, especially Birmingham Tech Week's national prominence, and his continued involvement were crucial to my decision in taking this role. I know from the past 8 years just how much of yourself you need to put into anything to take it from an idea to a reality. I am absolutely delighted that he will be staying involved , and I don’t think I would have considered the role without that knowledge. I look forward to being able to continue the growth of the community that Yiannis, and TechWM, have developed for the region!”

This next chapter of the region’s journey to becoming a global tech superpower holds promise as the nation continues to expand support for tech businesses and startups – reaching out beyond London and into the regions. TechWM itself has experienced growth, more than doubling its revenue last year, with recent changes to the board bringing new outlooks to the organisation.

Jason Sahota, Chair of the TechWM board, comments:

“The board is delighted to welcome Andy as CEO as TechWM is just getting started with the ecosystem showing promising alignment and the opportunity for significant growth.We’ll see a shift from collaboration to partnership, inspiration to opportunity, and celebration to impact. We cannot wait to see the big things that will happen in the upcoming years - keep your eyes peeled!”

For further details on TECHWM’s CEO appointment and growth, visit

www.techwm.com

By Molly Matthews

20 Feb