A North East firm has been identified as a future ‘unicorn’ in a new report.
Teesside-based Opportuni, which has developed technology that aims to make it easier for small and medium-sized companies to win public sector contracts, is one of 10 companies around the world which business support agency Launch Mappers says could be worth $1bn.
The firm joins companies from Germany, America, Switzerland and the Netherlands on the list, as well as two other UK firms. The list was compiled by analysing 100 start-ups from around the world and ranking them on their potential for growth.
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Opportuni was launched in 2020 and has helped SMEs win more than £700m worth of Government contracts. It was also listed in Startups 100 annual list of most disruptive new UK businesses.
The company’s CEO Tim Ward said: “Disrupting the global procurement marketplace is one of our key objectives – so to be listed on this international list is huge recognition.
“This nod from industry experts is extremely encouraging. It shows us that we’re on the right track with our unique services including BidNow, to help as many SMEs as possible bid and win valuable government contracts.
“We’re determined to keep the momentum going and to continue to break down the barriers that so many SMEs have faced in the past. This acknowledgment has shown us that there’s so much more to come for businesses everywhere and that this is just the start of major change.”
Opportuni recently launched BidNow, which it bills as “the world’s first end to end procurement service offering unlimited bid writing service for SMEs”.
It hopes the service will break down barriers to public sector contracts and help SMEs bid for and win valuable contracts. Its launch follows Opportuni’s acquisition of procurement website Bidstats at the end of last year.
Mr Ward said: “If Levelling Up really is going to become a reality, all businesses, no matter where they are based or who they know should have an equal shot at winning public sector contracts, and it is our mission to make this happen.
“Ensuring SMEs win more contracts is of vital national importance, since SMEs account for 99.9% of the UK business population and this accounts for three-fifths of employment. The Prime Minister’s ambition to ‘level up’ the North of England with the rest of the country is imperative – awarding more public sector contracts to SMEs is the key to unlocking Government’s levelling up challenge.”
David Odier, founder of Launch Mappers, said: “What makes Opportuni attractive isn’t simply the platform, but it’s pricing too. Using services such as BidNow is far more cost-effective than internalising this role for SMEs. Opportuni is rapidly positioning itself as the go-to solution for tender opportunities.”
