Meet London's new entrepreneurial elite
A new generation of London entrepreneurs is redefining work hard, play hard.
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       One of the more interesting things about watching new subcultures develop is the linguistic tics that emerge from them. Arising from the mildly hedonistic but astonishingly hard-working milieu of the London tech scene is an at-first impenetrable cobweb of portmanteaus, purposeful misquotations and allusions to the discourses of companies these ambitious young founders admire.
      
      
       So strong is London's influence that its language is seeping out into the wider ecosystem. "Lucian Tarnowski likes this," a phrase rarely out of the mouths of London's top tech entrepreneurs at the moment, is an instructive example: named for a London-based start-up chief executive who recently secured venture capital funding from NorthZone Ventures for his social media recruitment business BraveNewTalent, it's an obvious reference to Facebook. But the phrase, whose origin appears to be related to this TechCrunch article, has taken on a life of its own. It's now used as a tag to indicate approval, and its deployment marks the speaker out as being a member of the "in crowd".
      
      
       Indeed, so thoroughly has this expression penetrated the upper echelons of the London scene that I even heard it in the mouth of an ex-pat in San Francisco this week, applied to a churlish practical joke played on one of the co-founders of group management software GroupSpaces while the "crew", as they refer to themselves, were on holiday together in Val d'Isère.
      
      
       Which brings us neatly on to the driving force behind the extraordinarily rapid growth of this community: a series of ski trips and other working holidays organised by angel investor and Latitude chief executive Alex Hoye. Hoye has achieved a remarkable degree of buy-in from entrepreneurs and, just as crucially, the venture capital and corporate fraternity, who shoulder much of the financial burden of these adventures.
      
      
       From humble beginnings as a mailing list with a few dozen email addresses on it, Hoye - along with some of the more boisterous entrepreneurs like WAYN.com's Peter Ward - has created a phenomenon that feels and operates very much like a family: close-knit, supportive and fiercely loyal. Known variously as "ICE", the "SPICE crew", or simply "the list", these ebullient young founders are determined to make a mark in global tech through unashamedly ambitious thinking matched only by their capacity to enjoy themselves and share their journey with like-minded and similarly driven entrepreneurs.
      
      
       But this isn't some self-indulgent, booze-fuelled boys' club: for one, the percentage of women on board is very high. And as much as Hoye's team-building holidays are about overworked young executives letting off steam, they're also carefully structured to provide tangible business value to attendees.
      
      
       On the latest trip to the French alps, Wired UK editor David Rowan was invited into the group as a special guest. Rowan moderated various panels - on subjects from recruitment to funding to failure - which preceded dinners subsided by London-based venture capital firms. (One gets the impression it was as much an education for Rowan as it was for the entrepreneurs, who pointedly reminded him during one panel session to consider celebrating more British companies in his magazine.)
      
      
       "SPICE was born out of wanting to add a sporting social element for a core group of predominantly young tech entrepreneurs who had become close friends after a series of action-packed holiday adventures," explains Peter Ward. "For those invited to participate, it has become the ultimate tech hub where 'SPICERS' offer help and advice to each other on any relevant subject they have expertise in."
      
      
       The aforementioned Lucian Tarnowski is similarly appreciative of the value of these trips: "London has one of the best technology communities in the world - smart, creative and ambitious young entrepreneurs are working, learning and partying together and in doing so are creating a virtuous cycle of success.
      
      
       "They learn from each other's failings and best practices. They are creating new business models that challenge the status quo of whole markets and industries. And the peer-to-peer support network is likely to develop into one of the most successful networks in Europe."
      
      
       It's hard to disagree with that assessment. Alex Hoye himself, who has become something of a hero to this group, celebrated the vibrancy of his nascent family when I caught up with him after a day on the slopes. "We often say that for Europe to generate more disruptive businesses, we need more heroes," he explained. "This is true. But we also need to have inspiration and to enjoy ourselves, as a counterweight to the challenges and hard graft of seeking to swim against the stream rather than to simply go with the flow.
      
      
       "ICE is a great opportunity for funded entrepreneurs, investors and key parts of the ecosystem to sync with peers, share, get inspired, and develop bonds that can help down the road... And, of course, make for an enjoyable time along the way."
      
      
       Hoye is keen to point out that real business is done on the ICE trips. "Every year," he says, "There are deals done, start-up teams formed and invaluable advice shared - often on the ski lifts!"
      
      
       "This year, I think we took it up a notch with a professional program moderated by David [Rowan] which had people talking about
      
      
       growing businesses, working with shareholders, hiring and investment in a way that I've not seen at another conference. I think it is because of a basis of trust that we have built as a tribe of talented people trying to take on the world... and all from a European base!"
      
      
       Hoye is rumoured to be expanding on his own investment vehicle, Ice Cold Capital, later this year. Given his well-deserved profile and credibility in the industry, he'll likely have wannabe portfolio companies clamouring at the doors. Because he's created something really rather extraordinary.
      
      
       As for ICE, SPICE, whatever you want to call it... it is that rarest and most wonderful of social circles: an almost pure meritocracy that welcomes anyone, of any background, provided they're smart, hard-working and ambitious. No wonder the expectations of, and from, this group are so high.
      
     