In this episode of Track Record, Albert Azis-Clauson speaks with Emily Turner, CEO of HSBC Innovation Banking UK.

Emily explains why every founder needs to develop five areas of their company: the product, customer, team, investor, and business model. As each develops at a different speed, founders should focus their attention on whichever is moving most slowly.

The conversation explores how AI could give service businesses software-like economics, and why Emily is looking at companies outside London.

Key Moments:

00:00 Introduction

01:42 The state of venture and innovation

04:44 Why global investors are backing UK companies

08:01 AI, deep tech, and commercialisation

11:14 The five areas every founder must develop

15:00 Founder factories and the value of experience

20:04 How venture economics are changing

27:02 How venture funds create returns

29:29 Choosing the right investors

32:24 Pensions, debt, and secondary liquidity

34:11 Where capital has yet to reach

37:06 How AI helps companies focus

38:31 Can service businesses achieve software economics?

42:58 Why early-stage investing comes down to people

44:22 Problem obsession and complementary founders

47:13 Equity, incentives, and employee liquidity

48:41 Why Emily would invest outside London

50:09 Next on Track Record

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Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.

Learn more at https://www.tramlines.com

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