Glossary

Accelerator

A fixed-length programme that helps early-stage businesses grow faster, with mentoring, workshops and help to get ready for investment.

Accessibility support

Help to take part in the festival in the way that works for you. Tell us what you need when you book and the team will talk it through with you.

Account-based marketing (ABM)

Marketing aimed at a chosen list of named organisations instead of a broad audience.

Add-on

An extra you buy with or apart from a ticket, such as a place at a limited session. An add-on does not get you into the festival on its own.

Advertising Standards Authority (ASA)

The UK's advertising regulator. Its rulebook for honest marketing, the Committee of Advertising Practice (CAP) Code, applies to partners and affiliates promoting ClimbUK.

Affiliate programme

The ClimbUK scheme that rewards people for sharing their own ticket code with their network. Affiliates earn rewards as tickets sell through their code.

After party

The parties that close the festival days, where the conversations of the day keep going.

Agritech

Technology for farming and food production.

AI

Artificial intelligence: computer systems that do tasks that usually need human judgement, such as writing, spotting patterns or answering questions.

Angel investor

A person who invests their own money in an early-stage business, usually in return for a share of it.

Angel syndicate

A group of angel investors who invest in the same business together, so they can put in more and share the work of checking it.

Annual recurring revenue (ARR)

The yearly value of income from subscriptions or contracts that renew. Software and subscription businesses use it to show their size.

Anti-dilution

An investment term that protects investors if the business later raises money at a lower valuation, usually by giving them extra shares.

Automated decision-making

A decision about a person made by a computer alone, with no real human involved. Where it has a serious effect, you can ask for a person to review it.

Availability windows

Time slots that speakers and hosts tick in their portal to show when they are free to take part.

B2B

Business to business: selling to other businesses. B2C means selling to consumers, and D2C, direct to consumer, means a brand selling straight to its customers, often online.

Badge

The pass you wear at the festival. It shows what your ticket covers and carries a QR code linked to your app profile.

BBEC

UK Black Business Entrepreneurs Conference: an annual conference for Black entrepreneurs and the public, private and community organisations that back them.

BHA

British Horseracing Authority: the body that governs and regulates horseracing in Great Britain.

Biotech

Short for biotechnology: using living things, such as cells or bacteria, to make medicines, food or materials.

Blended finance

Public or charity money used alongside private investment, so projects that look too risky for investors alone can still get funded.

Board

The group of directors who oversee a company, set its direction and hold its leaders to account.

Booth representative

A member of a sponsor's team linked to its page in the event app, so delegates can see and contact them.

Bootstrapping

Growing a business from its own sales and savings instead of outside investment.

Breakout

A smaller session that runs alongside the main stage, so you can pick the topic that fits your business.

British Business Bank

The UK government's economic development bank. It helps smaller businesses get the finance they need to start and grow.

Build and breakdown

The set times before and after the festival when exhibitors put up and take down their stands.

Business email compromise

A scam where a criminal pretends to be a boss, colleague or supplier by email, usually to get a payment sent to their own account.

Busk Your Business

The impromptu pitch competition at the festival, where founders pitch their business on the spot.

Buyout

When an investor buys a controlling share of a company, often working with its managers to grow it.

Cash flow

The money coming into and going out of a business over a period. A business can be profitable and still run short of cash.

CCO

Chief commercial officer: the senior leader in charge of sales and revenue. Some companies use it for chief customer officer.

Chargeback

When your bank or card provider reverses a card payment after you dispute it with them. It is different from asking the seller for a refund.

Chatham House Rule

A rule for meetings: you may use what is said, but you must not reveal who said it. It helps people speak openly.

Cheerleader

A ClimbUK affiliate: someone who shares their ticket code to bring people to the festival, and earns rewards for it.

Climate tech

Technology that cuts carbon emissions or helps people adapt to a changing climate.

ClimbAwards

The ClimbUK awards for the businesses of the year and the people who back them, presented at the VIP drinks reception on day one.

ClimbHealth

The health and life sciences zone at the festival, with its own sessions, pitches and stands, run with partners from the health sector.

ClimbTour

One-day ClimbUK events in cities across the UK, with talks, pitches and networking. Each stop brings the festival to that region's business community.

Cluster

A group of businesses, universities and suppliers in the same field and the same area, who gain from being close to each other.

Co-founder

One of two or more people who start a business together.

Cohort

The group of businesses that go through a programme, such as an accelerator, at the same time.

Combined authority

A group of neighbouring councils that work together on transport, skills and economic growth, usually led by an elected mayor.

Comma-separated values (CSV)

A simple spreadsheet file. Lead lists and attendee lists download in this format, ready to open in any spreadsheet.

Commercialisation

Turning research, an idea or a technology into a product or service that people pay for.

Community interest company (CIC)

A UK company set up to benefit the community instead of private owners.

Consequential loss

An indirect loss that follows on from a problem, such as lost profits or lost opportunities. Contracts often rule these out of what can be claimed.

Consumer

Someone buying mainly for themselves, not for their trade, business or profession. Consumers have legal rights a contract cannot take away.

Contract research organisation (CRO)

A company that runs research, such as trials of new medicines, for drug and medical device companies.

A small file a website saves on your device, to keep you logged in, remember your choices or measure how the site is used.

Cooling-off period

A set time, usually 14 days, when a consumer can cancel many online or phone purchases without giving a reason. Tickets for an event on a fixed date are usually not covered.

Corporate finance adviser

A specialist who helps a business raise investment, buy another company or sell itself, from finding the other side to agreeing the deal.

CPD

Continuing professional development: learning you log to keep a professional membership up to date. Check with your professional body which sessions count.

Customer relationship management (CRM)

Software a business uses to store its contacts and track its sales conversations.

Cyber Café

A drop-in area at the festival where small businesses get quick, practical advice on staying safe online.

Cyber security

Protecting a business's computers, accounts and data from attack, theft and damage.

Data controller

The organisation that decides why and how personal data is used, and is responsible for following data protection law.

Data processor

A supplier that handles personal data only on a controller's instructions, such as an email or payment provider. It must not use the data for its own purposes.

Data Protection Officer (DPO)

The person responsible for how an organisation protects personal data. You contact them to see, correct or delete your data.

DBA

Design Business Association: the UK trade body for design businesses. It runs the Design Effectiveness Awards.

Deal flow

The stream of investment opportunities an investor sees. Good deal flow means meeting plenty of promising businesses.

Debt funding

Borrowed money, such as a loan, that is paid back with interest. The lender does not get a share of the business.

Deep tech

Businesses built on major scientific or engineering advances, such as new materials, robotics or quantum computing. They often take years to reach market.

Delegate

Anyone who comes to the festival with a ticket or a pass.

Delegate pass

The pass that gets a delegate into the festival. Partner and exhibitor packages include delegate passes for your team.

Demo day

The event at the end of an accelerator where each business pitches to investors and partners.

Digital therapeutics

Software, such as an app, that treats or helps manage a medical condition, often alongside other care.

Dilution

When a company issues new shares, each existing owner holds a smaller part of it. Founders are diluted each time they sell shares to raise money.

Down round

A funding round where the business is valued lower than in its last round. It can cut the founders' share and switch on investor protections.

Drag-along rights

A term that lets most shareholders make the rest join a sale of the business on the same terms, so a small group cannot block it.

Due diligence

The detailed checks an investor or buyer makes on a business before committing: its finances, legal position, intellectual property and team.

Early bird

The first ticket releases, at the lowest prices. When an early bird release closes, the price steps up.

Early stage

A business that has started selling or testing its idea, but has not yet shown it can grow.

EBITDA

Earnings before interest, tax, depreciation and amortisation: a common measure of a business's operating profit, often used to value it.

Ecosystem

All the people and organisations that help businesses in an area or a sector grow: founders, investors, universities, councils and support programmes.

Ecosystem builder

Someone whose work connects and strengthens a business ecosystem, for example by running an accelerator, an innovation hub or a founder community.

The standards used to judge how responsibly a business is run.

Equity

A share of ownership in a business; investors usually get equity in return for their money. In diversity, equity also means fairness: giving people what they need to have the same chances.

Essential cookies

Cookies a website needs to work, such as keeping you logged in or remembering your cookie choices. They do not need your consent, so you cannot switch them off.

Event app

The ClimbGroup Event App. Use it to see the programme, find the people you want to meet and book meetings with them.

Ex. VAT

Short for excluding Value Added Tax (VAT). The price shown does not include VAT, which is added when you pay.

Exhibitor

A business with a stand on the expo floor, there to meet delegates, show what it does and make sales.

Exit

When founders or investors sell their stake in a business, for example through a sale to another company or a stock market listing. An exited founder has done this.

Expo floor

The exhibition space between the stages, where exhibitors have their stands.

Family office

A private firm that manages and invests the wealth of one family. Many invest directly in growing businesses.

Finalist

A shortlisted ClimbAwards entry. Finalists send supporting evidence to the review panel and are invited to the awards ceremony, where the winners are revealed.

Financial Conduct Authority (FCA)

The UK regulator for financial services firms. Giving regulated investment advice needs its permission.

Fintech

Technology for money and financial services, such as payments, banking and lending.

Fireside chat

A relaxed conversation on stage between a host and a guest. It feels more like an interview than a talk.

First-party and third-party cookies

First-party cookies are set by the website you are on. Third-party cookies are set by another company, such as an analytics or advertising provider, whose tools load on that site.

Force majeure

An event outside anyone's reasonable control, such as a pandemic or severe weather, that stops a contract being carried out. The force majeure clause says what happens then.

Founder

A person who starts a business.

Founder vesting

An arrangement where founders earn full ownership of their shares bit by bit over a set time. A founder who leaves early may give some up.

Founder-led sales

When the founder wins most of the business's customers personally. It is common early on and hard to keep up as the business grows.

Fractional finance director

A senior finance expert who works part time for several businesses. It gives a growing business senior skills without a full-time salary.

FSB

Federation of Small Businesses: a UK membership organisation for small businesses and the self-employed.

Funding round

A set period when a business raises money from investors, often named by stage, such as seed or Series A. Also called a raise.

Funeral of a Business

A Climb26 session, also called Startup Funeral, where founders hold a mock funeral for a business that did not survive. They share what went wrong and what they learned.

Go-to-market strategy

Your plan for launching a product and selling it: who will buy it, how you will reach them and at what price.

Governance

How a company is directed and controlled: its board, its rules and who makes which decisions.

Governing law

The country's law used to read a contract. Jurisdiction is which courts can hear a dispute about it. For ClimbUK terms, both are England and Wales.

Grant

Money given to a business, usually by government or a funder, that does not have to be paid back as long as the conditions are met.

Growth stage

The point where a business has proven its product and its customers, and is now working to grow.

Headline partner

The lead partner of the festival, front and centre on stage, on the floor and online.

Heads of terms

A short summary of the main points two sides have agreed before the full legal contracts are written. Universities often use them in spin-out deals.

Health Innovation Network

One of the regional bodies set up by the National Health Service (NHS) in England to help new health ideas reach patients. They link the NHS with businesses and universities.

Healthtech

Technology that improves health and care, from apps and data tools to new ways of delivering services.

High-growth business

A business whose sales or staff are growing much faster than usual, year after year.

Host

The person who leads a session on stage, guides the conversation and keeps it to time. Anyone can apply to host.

Ideal customer profile (ICP)

A description of the customer who gets the most from your product and is most likely to buy. It helps you aim your sales and marketing.

Impact investing

Investing in businesses that aim to do good for people or the planet as well as make money.

Incubator

A programme or space that supports very early businesses, often at an earlier stage and for longer than an accelerator.

Indemnify

To agree to cover another party's losses, costs or legal claims caused by something you did.

Information Commissioner's Office (ICO)

The UK's independent regulator for data protection and electronic marketing. You can complain to it about how an organisation handles your data.

Initial public offering (IPO)

The first time a company sells its shares to the public on a stock exchange. It is one way for founders and investors to exit.

Innovation hub

A building or programme where new businesses, researchers and larger companies work side by side and share ideas.

Institutional capital

Money invested by organisations, such as venture capital funds, pension funds or banks, instead of by individuals. It usually comes in larger amounts, with more formal checks.

Intellectual property

Intellectual property (IP) is what a business creates and can own, such as inventions (patents), brand names and logos (trade marks), designs and written work.

International Data Transfer Agreement (IDTA)

A standard UK contract that protects personal data sent to a country whose data protection laws are not recognised as equal to the UK's.

Investment readiness

How prepared a business is to raise money: clear numbers, a strong pitch, sound legal paperwork and a plan for the money.

Investor

A person or a firm that puts money into a business in return for a share of it or a return later.

Investor Lunch

A private lunch at Climb26 for investors only, so they can talk openly with each other.

Investor Speed Networking

A Climb26 session where founders have short one-to-one conversations with investors. It needs its own add-on ticket, booked in advance.

Join code

The code or link in your event app invitation that takes you into the right event in the app.

Keynote

A main talk given by a featured speaker to the whole audience.

KPI

Key performance indicator: a number a business tracks to see whether it is on course, such as monthly sales or customers kept.

Lanyard

The strap round your neck that holds your festival pass. Keep it on so people can see your name.

Later-stage capital

Investment for established, growing businesses instead of new start-ups. These investors expect clear evidence, such as steady revenue and strong numbers.

Lawful basis

One of six legal reasons an organisation needs before it uses personal data: consent, contract, legal obligation, vital interests, public task or legitimate interests.

Lead

A person who may become a customer. At the festival, exhibitors and sponsors gain leads by scanning badges or when delegates contact them in the app.

Lead scanning

Scanning a delegate's badge or app QR code to save their contact details, instead of swapping business cards. The business that scans is responsible for how it uses those details.

Leading and lagging indicators

A leading indicator shows early what is likely to happen, such as enquiries this week. A lagging indicator shows what has already happened, such as last month's sales.

Legitimate interests

A lawful basis that lets an organisation use personal data for a reasonable business purpose, if it is needed and does not outweigh your rights. You can object to it.

Life sciences

The science and business of living things, including medicine, biotech, drug discovery and medical devices.

Liquidation preference

A term that sets who gets paid first if the business is sold or closed. It often lets investors take their money back before founders get anything.

LLP

Limited liability partnership: a business structure used by many law and accountancy firms.

M&A

Mergers and acquisitions: businesses combining with, or buying, one another.

Main stage

The stage at the heart of the festival: home to the grand opening, the big moments and the headline sessions.

Masterclass

A practical session led by an expert. You learn how to do one thing well and leave with steps to take.

Matches

People the event app suggests you meet, based on the interests and goals in your profile.

Medtech

Medical technology: devices, equipment and software used to diagnose, monitor or treat patients.

Meeting booking

Setting up meetings with other delegates before the festival, in the ClimbGroup Event App, so your time on the day goes on the right conversations.

Mentoring

An experienced person giving regular advice and support to someone earlier in their career or business.

MFA

Multi-factor authentication: signing in with a second check as well as your password, such as a code on your phone. It blocks most account break-ins.

NCSC

National Cyber Security Centre: the UK's official source of cyber security advice, including a free guide for small businesses.

Networking

Meeting people who can help your business, and helping them back. At ClimbUK it happens in sessions, on the expo floor and at the parties.

Non-dilutive funding

Money that does not cost you a share of your company, such as grants or loans.

OEM

Original equipment manufacturer: a company that makes the finished product, or the parts that go into another company's product.

One-time passcode (OTP)

A short code that works only once, sent to your phone or email to confirm a payment or a login.

One-to-one meeting

A conversation with one other delegate that you book in the event app. At the festival it takes place at a numbered table in the meeting area.

Open innovation

When a company works with start-ups, universities or other partners to find new ideas, instead of only developing them in house.

Open mic pitching

Pitching your idea to the room without slides, to get quick feedback and start conversations.

Opt in and opt out

To opt in is to agree to receive something, such as marketing emails. To opt out is to withdraw that agreement.

Panel

A session where several speakers discuss one topic together, led by a host, often with questions from the audience.

Partner

A business that backs the festival with a partnership package, in return for meetings with the right people, time on stage or a stand.

Patent

A legal right that stops others making, using or selling your invention without permission, for a set number of years.

Pipeline

The deals a business is working on, from first contact to signed sale. A healthy pipeline helps predict future sales.

Pitch

A short talk where a founder explains their business and what it needs, usually to investors or judges.

Pivot

Changing a business's direction, such as its product or its customers, after learning what works.

PR

Public relations: managing how a business is seen by the press and the public.

Pre-seed

The very first outside money a start-up raises, often before it has a finished product or steady sales. It usually comes from friends, angel investors or small specialist funds.

Precision medicine

Treatment matched to a person's genes, lifestyle or condition, instead of one approach for everyone.

Privacy and Electronic Communications Regulations (PECR)

UK rules on cookies and on marketing by email, text and phone. They often need your consent first.

Private equity

Investment firms that buy a stake in established private companies, aiming to grow them and sell later.

Product-market fit

The point where a product clearly meets a real need, and customers want it and pay for it. Investors look for evidence of it.

Programme headshot

The square photo of a speaker or host that appears in the printed programme and the event app. It can be different from your account photo.

Public procurement

How public bodies, such as councils and the NHS, buy goods and services, usually through formal tenders.

Purchase order (PO)

An official document a buyer sends a supplier to confirm what it is ordering and at what price.

Push notification

A message from the event app that pops up on your phone, even when the app is closed.

Q&A

Question and answer: the part of a session where the audience asks the speakers questions.

Ransomware

Harmful software that locks a business's files or systems until a payment is made.

Reasonable adjustments

Changes a service must make under the Equality Act 2010 so disabled people are not put at a disadvantage, such as step-free access or a hearing loop.

Release

A batch of tickets sold at one price. When a release closes, the next one opens at a higher price.

Reserved matters

Important decisions a company cannot make without its investors' approval, such as raising new money or selling the business.

Return on investment (ROI)

What you get back compared with what you put in. For an exhibitor, that could be leads and sales weighed against the cost of a stand.

Revenue operations (RevOps)

The team or role that joins up the systems, data and processes behind sales, marketing and customer service, so revenue grows more predictably.

Review panel

The ClimbAwards judges: industry leaders and award sponsors who assess the finalists.

Roundtable

A small group talking through one topic around one table, led by a host. Everyone gets a say.

Route to market

How a product reaches its customers: for example direct sales, online, through shops or through partners.

Run of show

The running order for an event or session: what happens, when, where and for how long.

Runway

How many months a business can keep going before its money runs out.

SaaS

Software as a service: software you pay for by subscription and use online, instead of installing it yourself.

Scale-up

A business that is growing fast, in sales or in staff, and has moved past the start-up stage.

Sector stages

Stages at the festival that run deep-dive sessions on one industry or sector at a time.

Seed funding

The first significant investment in a business, used to prove the idea and get it to market.

Self-nomination

Putting yourself or your own business forward for an award. The ClimbAwards welcome self-nominations.

Senior operator

Someone who runs the day-to-day work of a business, such as a chief operating officer or a head of department.

Series A

The first large venture capital round after seed funding, for a business that has shown real demand. Later rounds are called Series B, C and so on.

Session proposal

Your idea for a session, sent to ClimbUK through the online form so the team can consider it for the agenda.

Session replay

A tool that records how you move around a website, such as clicks, scrolls and page changes, so the site owner can find problems. It needs your consent.

Shell scheme

A stand that comes with its walls and name board already built, so you bring your branding and products. Your stand package says what is included.

Slot

The date, time, length and place given to a session or a meeting. The ClimbUK team sets session slots.

SME

Small and medium-sized enterprise: a business with fewer than 250 staff.

A business whose main purpose is to help people or the planet, and that puts most of its profit back into that purpose.

The difference a business makes to people's lives and communities, beyond making money.

The wider good a business does for people, communities and the environment, beyond profit. Public buyers often score it when they award contracts.

Space only

A stand where you get the floor space and bring or build your own stand on it.

Speaker liaison

The named person who looks after the speakers for an event.

Speaker pack

The details a selected speaker receives, with their session time, title and stage.

Special category data

Personal data that needs extra protection, such as information about your health, ethnicity, religion or sexual orientation.

Spin-out

A company set up to turn research from a university or a larger company into a business of its own.

Stand

Your space on the expo floor as an exhibitor, where you meet delegates and show what you do.

Standard Pass

The main Climb26 ticket. It covers both days, the talks, panels, workshops and roundtables, the expo floor and the event app.

Start-up

A new business at an early stage, usually built to grow quickly.

Startup Special

A lower-price Climb26 ticket for businesses set up within the last year, with a limited number available.

Strong Customer Authentication (SCA)

An extra check required by UK payment rules when you pay online, such as approving the payment in your banking app or entering a one-time passcode.

Student ticket

A Climb26 ticket for students, available by asking the ClimbUK team. It covers the main stages, talks, panels, expo floor and networking, but not roundtables, workshops or masterclasses.

Subject access request

Asking an organisation for a copy of the personal data it holds about you. It usually has one month to reply, and it is normally free.

Summit Stage

The ClimbUK stage for panels and fireside chats.

Technology transfer office (TTO)

A university team that helps turn research into products, for example by licensing intellectual property or setting up spin-out companies.

TEF

Teaching Excellence Framework: the national scheme that rates the quality of teaching at universities in England, from Bronze to Gold.

Term sheet

A short document setting out the main terms of an investment: how much, at what valuation and with what rights for investors. The final legal agreements are based on it.

Total addressable market

The full amount a product could earn if every possible customer bought it. Investors use it to judge how large a business could become.

Touting

Reselling tickets for profit without the organiser's permission. Tickets resold this way can be cancelled.

Traction

Evidence that customers want what you sell, such as growing sales, users or repeat orders.

Trade mark

A legal right to a name, logo or slogan, so others cannot use it to sell similar goods or services.

UK General Data Protection Regulation (UK GDPR)

The main UK law on how organisations collect, use and protect personal data, and the rights it gives you over your data.

Underwriting

How investors judge the risks and likely returns of an opportunity before deciding to back it.

Unicorn

A privately owned start-up valued at more than $1 billion.

University Zone

The part of Climb26 for university sessions, such as spin-out showcases and talks on how universities, founders and investors can work together.

Valuation

What a business is judged to be worth, often agreed when it raises investment.

Valuation multiple

A number used to work out what a business is worth by multiplying a measure such as profit or revenue. Five times EBITDA means the business is valued at five times its EBITDA.

VC

Short for venture capital. See Venture capital.

Venture capital

Money from funds that invest in fast-growing businesses in return for a share. The amounts are often larger than an angel investor puts in.

Vibe coding

Building software by describing what you want in plain words to an AI tool, which writes the code for you.

VIP Pass

A Climb26 ticket with everything in the Standard Pass, plus the VIP evening reception and some invite-only networking.

VIP reception

An evening drinks reception on day one for VIP Pass holders, with a mix of founders, investors, speakers and senior operators.

Virtual booth

A sponsor's own page in the event app, with its logo, story, content and team, which delegates can visit at any time.

Workshop

A hands-on session where you take part and practise, instead of only listening.

WYCA

West Yorkshire Combined Authority: the combined authority for Bradford, Calderdale, Kirklees, Leeds and Wakefield, led by the Mayor of West Yorkshire.

Guest

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