U.K. Startups Face Crisis as Venture Funding, Deals Dry Up

U.K. Startups Face Crisis as Venture Funding, Deals Dry Up

Sept. 15 (Bloomberg) -- Stuart Evans says he hasn’t seen a worse time to be a startup entrepreneur in the U.K.

The 59-year-old was able to raise funding for Cotag International Ltd., a maker of radio-frequency scanners, two weeks after Black Monday in 1987. By contrast, it took him a year to secure about 1 million pounds ($1.66 million) in August for his latest project, Novacem Ltd, a London-based producer of cement that can absorb carbon dioxide.