Off Balance #45

In partnership with

👋🏾 Hi friends!

We’re coming up to the end of this season of Nothing Ventured, this week we have Nicola Sinclair, Founding Partner at Twin Track Ventures on the pod, but check out who we’re bringing on for the last episode of the season in a few weeks 🤯👇🏾

None other than Piers Linney - ex Dragon on the BBCs Dragons' Den but more importantly massive advocate for SMEs, tech, startups and good governance from the government all the way down.

Be sure to subscribe so you don’t miss out on this absolute banger of an episode 💪🏾

I’m taking my annual trip down to Italy later this week, keep your fingers crossed that the ol’ Tesla doesn’t conk out on me - I already had to replace 2 of the tyres this last week which wasn’t a particularly pleasant thing to have had to do.

But for now, let’s settle in for another dive into the world of venture capital ✨

I’m well underway writing about all the things I’ve learned from the last couple of decades as founder, CFO and CEO, so sign up for early access to Off Balance - The Book and feel free to share with anyone else you think might enjoy it 😄.

Now let’s get down to business…

In this weeks Off Balance:

🎙️ Nicola Sinclair, Founder of Twin Track Ventures on Nothing Ventured
📑 HSBC Innovation Banking's 2024 Venture Capital Term Sheet Guide: Key Insights for Founders and Investors

𝙃𝙖𝙫𝙚 𝙬𝙚 𝙧𝙚𝙖𝙘𝙝𝙚𝙙 𝙥𝙚𝙖𝙠 𝙙𝙧𝙤𝙣𝙚?

In the latest episode of Nothing Ventured, I sat down with Nicola Sinclair - Founder and General Partner of Twin Track Ventures, a dual use venture capital firm based in London backing founders raising pre-seed and seed rounds with a focus on teams building deeptech solutions for critical challenges.

Prior to Twin Track, Nicola was fund manager of the Air Innovation Fund having spent close to two decades as an officer in the Royal Air Force.

My top takes:

➡️ 𝗧𝗵𝗲 𝗘𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗼𝗳 𝗠𝗶𝗹𝗶𝘁𝗮𝗿𝘆 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻

Nicola shared her firsthand experience of the transformation in military technology from the dark ages of defense services to the present day. She highlighted the shift from outdated communication methods, like pen and paper, to the integration of advanced technologies like drones and AI in defense operations. This evolution underscores the importance of embracing innovation to enhance military capabilities and efficiency.

➡️ 𝗗𝘂𝗮𝗹-𝗨𝘀𝗲 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗲𝘀

We explored the concept of dual-use technologies, which are commercial technologies with applications in both civilian and defense sectors. Nicola noted the significance of investing in technologies that not only benefit national security but also have broader societal impacts. By focusing on dual-use technologies, businesses can drive innovation while addressing critical challenges in various industries.

➡️ 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗖𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗜𝗺𝗽𝗮𝗰𝘁

The discussion also touched upon the ITAR exemptions and the implications for businesses in the UK and Europe. With the AUKUS pact and the focus on emerging technologies, there is a growing need for streamlined regulations to facilitate collaboration between nations and enhance technological advancements in defense. This regulatory shift is crucial for companies looking to engage with the US Department of Defense and expand their market reach.

We also talked about:

💻 Living through the dark ages of the defence when 8 people would use one laptop.
🔫 What do you do when you get sent a drone with a gun on it?
🖨️ Printing aircraft parts at the point of use to bring time to repair down by weeks.
🤝 Countries have different priorities, how to leverage interoperability whilst maintaining a point of difference.
🔬 The role of science within defence.
🌐 How to reconnect disconnected communities.
🕵🏿‍♂️ How there aren’t many people who have worn a uniform but also understand how to fund innovation.

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Now let’s get into it.