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Last week, Baltic Ventures partnered with DTM Legal, The Growth Platform and Professional Liverpool to host an event that brought together startup founders, investors, and ecosystem leaders to share their journeys, lessons learned, and advice for building successful ventures. The evening was packed with actionable insights, candid reflections, and strategies for scaling in today’s evolving landscape. 

Here are the key takeaways and nuggets of wisdom from the event.

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The Evolving Startup Landscape: Collaboration & Connectivity

Katie Nicholson, Director at Gateway Angels, kicked off the event by highlighting how Liverpool’s startup ecosystem has transformed over the past few years with the region seeing more collaboration and growth opportunities.

Katie emphasized Liverpool’s supportive and proactive culture, where founders and investors alike are eager to help each other succeed. Reflecting on Gateway Angels’ evolution from LCR Angels, she shared their mission to expand angel investment capacity in the region.

“The hope is that as founders succeed, they’ll give back to the ecosystem—whether by mentoring, investing, or supporting the next wave of startups.” – Katie Nicholson

Her advice to aspiring angel investors? Angel investing is high-risk but rewarding, offering opportunities to mentor, sit on boards, and directly support the growth of early-stage companies.

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The Founder’s Journey: Successes, Struggles & Strategies

A panel of seasoned founders – Carl Wong of Living Lens, Raina Haverin of ReCulture and SupplyWell, Ike Cooke of Bundant, and Anthony Chadwick of the Webinar Vet – shared candid reflections on their startup journeys, from raising angel funding to navigating growth and scaling challenges.

Key Lessons from the Founders:

• Carl: Emphasized the importance of finding a co-founder with complementary skills – “Co-founders get things done faster. If you have someone alongside you, it’s a huge benefit.” 
• Raina: Highlighted the value of networking and meeting as many people as possible early on – “You don’t know who you need to know until you’ve met them.” 
• Ike: Stressed the power of industry alignment, sharing how building in a space that solved a real problem led to early traction – “I would have leaned into our early momentum even more—getting more people using the product faster.” 
• Anthony: Advocated for moving quickly and not over-engineering. He shared his philosophy of “Rip off and Duplicate” – learning from what works rather than reinventing the wheel – “We didn’t wait for everything to be perfect – we cracked on.”

Chaired by Richard Harris, from DTM Legal, the panel also discussed the importance of building relationships with those from the Professional Services early in the journey. As Carl said,  “you will need people to help with your accounting, your cap table, your due diligence, your IP, your employment, your financial modelling….”.

 Mistakes & Hard-Won Lessons:

• Raina: Warned against perfectionism and slow decision-making – “Not acting quickly enough was a mistake—I sometimes tried to be a perfectionist or got pulled in too many directions.” 
• Anthony: Admitted he could have sought investment earlier, rather than initially building as a lifestyle business – “If I could go back, I’d have maybe raised capital sooner and would hired the best people faster.” 
• Carl: Stressed the importance of cash efficiency – “Watch the pennies—not to the point where you slow down, but cash is everything, so move it as fast as you can.” 
• Ike: Shared the emotional challenge of closing down Bundant – “It was the right decision, even though it was hard. It wasn’t failing—it was making room for the next opportunity.”
  

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Scaling Strategies: The Growth Journey

The panelists also shared insights on navigating growth, pivoting in changing markets, and building resilient businesses.

Key Scaling Strategies:

• Anthony: Emphasized the need for persistence and consistency – even when it’s not glamorous –“Scaling isn’t always sexy—it’s about being persistent, consistent, and finding new opportunities.” 
• Raina: Highlighted the value of credibility through recognition, sharing how participating in initiatives like Tech Climbers gave their startup a credibility boost – “Every bit of recognition helps—it’s a shortcut to credibility.” 
• Carl: Stressed the importance of having an exit strategy from day one, including identifying potential acquirers and building relationships with them – “We built relationships with M&A advisors early on, always demonstrating how we were adding value to our customers and business.” 
• Ike: Advocated for honesty and self-awareness during the fundraising journey – “You need to be honest with yourself—sometimes stepping away is the right move.”
  

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The Power of the Liverpool Ecosystem

Throughout the evening, the speakers celebrated Liverpool’s tight-knit startup community and its unique advantages.

Why Liverpool?

• Carl: Highlighted the need for more capital pathways in the region – “We need more access to capital—where’s the £250k? We need support to raise larger rounds.” 
• Raina: Praised Liverpool’s supportive community – “It would have been harder to build in London. Here, people back you and support you.” 
• Ike: Valued Liverpool’s connectivity and accessibility – “Liverpool packs a punch—it’s small enough that you can build meaningful connections quickly.” 
• Anthony: Expressed pride in Liverpool’s growing startup scene and the need for more support to help companies scale beyond the £1–2M mark – “We’ve got the support system—it’s now about helping founders scale from £1M to £10M.”
  

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Fireside Chat with Amy from Ripstone: The Long Road of Investment

In a separate fireside chat, Amy from Ripstone shared her experiences of raising early-stage capital and building a sustainable gaming business.

Key Advice from Amy:

• Ask for investment early: “Ask for funding when you don’t need it. If you’re asking when you need it, you’re probably too late.” 
• Industry highs and lows: “Gaming is cyclical—there are highs when you launch a game that takes off and lows when the market shifts. Desperation breeds innovation.” 
• Integrity & transparency: Ripstone took a transparent approach with staff during industry challenges, fostering trust and resilience – “We were honest with our team when we saw changes coming—we prioritized integrity.”
  

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Final Reflections: Passion, Persistence & Community

The evening concluded with a powerful reminder that passion and resilience are at the heart of every founder’s journey.

“If your job is your hobby, it makes the hard times easier,” shared Anthony.

The message was clear: building a startup takes grit, adaptability, and a strong support network. With Liverpool’s growing ecosystem, founders have the right environment to scale—one built on collaboration, connectivity, and a shared drive for success.

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