Annual Financial Report

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE "MARKET ABUSE REGULATION"). UPON PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

STARTUP GIANTS PLC

(“Startup Giants” or the “Company”; AQSE: SUG)

FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2022

The directors of Startup Giants (the “Directors”) present below the Company’s audited financial results for the year ended 31 December 2022.  Startup Giants is a UK-based start-up accelerator that invests in and mentors internet technology start-up businesses in the UK and internationally.

The financial information below is extracted from, but does not on its own constitute, the Company’s statutory financial statements.  These are contained in the Annual Report and Financial Statements for the Year Ended 31 December 2022, which are expected to be posted to shareholders imminently, and which will then be immediately available on the Company’s website (startupgiants.com).

Financial Results for the Year Ended 31 December 2022

Startup Giants undertook consultancy work for and provided support services to early-stage entrepreneurs, generating revenue of £320,957 (2021: £623,839).  The reduced revenue in comparison with 2021 reflects tightening economic conditions and in specific terms is mainly attributable to a lesser number of new fee-paying visa applicants joining the Company’s portfolio on its standard business support programme.  There was also a reduction in administrative expenses, which were largely composed of costs associated with the support provided to endorsee entrepreneurs, to £456,368 (2021: £579,368).  The Company recorded an operating loss of £135,411 (2021: profit of £44,471) and a total comprehensive loss of £136,514 (2021: profit of £43,814) translating into a loss per share of 10.94 pence (2021: profit of 3.88 pence per share).  At the end of the year, net assets stood at £556,134 (2021: £692,648); cash and cash-equivalents in hand stood at £712,389 (2021: £1,098,838).

Significant Features of Financial 2022

The focus of Startup Giants for the majority of 2022 remained on supporting founders already in the Company’s portfolio to target their early stage investment rounds with private investors and funds within the Company’s network, as well as the selection and support of global opportunities and talent from visa applicants seeking to bring their innovation to the United Kingdom, in order to further expand the Company’s portfolio of founders.

During the second half of the year, the Company also ran trials of a partnership program with several startup mentoring organisations providing access to over 200 nurtured startups, and 20 independent venture capital syndicates, qualifying partner investment opportunities at pre-seed and seed stage, and facilitating demo day introductions to the venture capital syndicates for companies located in the UK, India, the USA, Canada, and the Middle East.  The Company used feedback from these trials to build on and strengthen its engagement model with its founders with the launch of a pre-funding bootcamp, being made available to founders that are ready-to-raise to improve their level of preparedness before entering a roadshow with investors.

In that latter half of the year, the Company also initiated the development of an online platform to support their network of independent venture capital syndicates and will look to expand the number of partners going forwards on a region by region basis.

Current Trading and Post-Balance Sheet Events

Trading during the current financial year hitherto has been in line with the Directors’ expectations at the beginning of the period. The Company has during the current year to date continued its core focus to expand its portfolio of founders with innovative concepts, where the Company receives either straight equity or a warrant on shares for longer-term asset appreciation, as well as building on initiatives previously put in place for diversifying regionally.

Outlook

Looking ahead, the momentum for technology companies requiring investment at the seed stage should continue, with demand for the Company’s support model, which encompasses a delivery crew to support young start-ups with their technology and digital marketing strategies, showing signs of continuing to increase.

Jeb Buckler

Chairman & CEO

The Directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

Startup Giants plc

Jeb Buckler, Chairman & CEO

jeb@startupgiants.com

+44 (0)7477 949933

Keith Bayley Rogers & Co. Limited

Brinsley Holman

brinsley.holman@kbrl.co.uk

+44 (0)7776 302228