BBC – Rackspace announces UK start-up programme for 2013


Just doing my rounds on the BBC news page and found that Rackspace is entering the UK market in 2013. Article found here…

Most interesting points….

Cloud hosting firm Rackspace is to offer £12,000 of hosting and mentoring for start-ups on the programme.

A survey of more than 50,000 entrepreneurs ranked London as the seventh best city to launch a start-up.

Rackspace, whose start-up programme has aided more than 850 US start-ups in their early stages, said they felt the timing was right to launch its push in the UK.

“This feels a lot about how I saw Instagram for the first time – two guys sitting at a table coding like mad, two years later they’re worth a billion dollars. It has that feel to it.”

Rackspace is one of the world’s largest cloud hosting firms – second only to Amazon.

The cloud, as it is known, is a term given to storing data on servers in a variety of locations – rather than on a local machine.

Cloud hosting gives small companies flexibility when starting out. Rather than pay for the rental of dedicated servers, which can be expensive, it means start-ups can just pay for what they need.

Companies tipped to be likely IPO candidates in the new year include Mind Candy – creators of children’s social network Moshi Monsters – and online loans company Wonga.

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