18 Bootstrapped Entrepreneurs to watch in 2023
As we go through record inflation and rising economic recession concerns, venture capital funding has hit an all time low in comparison to 2021. Industries being impacted by this shift ranges from proptech, cybersecurity, to cryptocurrency and biotech. Despite that, entrepreneurs are showing resilience and tenacity in the face of unpredictability. This is especially true for bootstrapped entrepreneurs who are building businesses during an economic downturn without access to venture capital funding.
Whilst there is no right or wrong way to fund a business, witnessing the determination of entrepreneurs who are bootstrapping in order to build successful brands like Gymshark, Zoho, Shopify and many others is vital to shift funding perspectives and empower future change-makers.
In fact, here are 18 bootstrapped entrepreneurs building businesses with a clear mission to make a positive impact.
Dr Nayan Kalnad and Neeraj Apte, co-founders of Avegen Health
Avegen has created a platform, called HealthMachine, which enables health providers and pharma companies to build, deploy and scale impactful digital health products quickly. Products built by Avegen have been used by over 1 million people globally and include maternity monitoring tools, cardiac rehab apps and digital HIV care programmes.
Founders Nayan and Neeraj, along with their team, bootstrapped the business from day one - building it into a 60-strong team which now stretches across multiple continents without any VC capital. This has allowed them to iterate their model and build the strong foundations needed for long-term growth.
The journey hasn’t been without challenges. This included having to pivot away from their original, direct-to-patient model after discovering that the structure wasn’t scalable or able to help as many people as it needed to. Pivoting a bootstrapped business can be extremely tough and the whole team worked hard to make it through the transition and thrive on the other side.
The idea for Avegen was sparked when medical doctor Dr Nayan Kalnad was working to improve care delivery for HIV-positive patients in India. He realised that the right tech could widen access and transform the quality of care these patients were receiving. He teamed up with co-founder Neeraj Apte - who brings over 20 years experience in software development to the team - to create Avegen and build HealthMachine.
Dr James Somauroo and Jessica Smith, co-founders of SomX
SomX was founded in 2020 by Dr James Somauroo and Jessica Smith, who combined their expertise to found and scale the only agency that truly understands healthcare, technology, investment and startups.
James, an anaesthetics and ICU doctor by background, is a healthtech contributor for Forbes, host of The Healthtech Podcast and Editor In-Chief of Healthtech Pigeon. He previously held roles in policy and innovation at NHS England and Health Education England and directed the DigitalHealth.London Accelerator.
Jessica, who heads up client experience and public relations at SomX, was previously an Associate Director at global agency FleishmanHillard. She has broad experience in healthcare communications across NHS, corporate, charity, healthtech and pharma industry clients.
SomX has grown rapidly over the past 12 months, and - to date - has worked with over 50 healthtech and biotech companies to deliver impactful strategy, communications, design and PR services. With expertise, talent and precision, the team of 20 builds unique, impactful brand experiences to elevate the sector. Their community links entrepreneurs, investors, technologists, healthcare professionals and pharmaceutical groups to solve the most complex healthcare challenges of our time.
Ana Andres, founders of TidyChoice
TidyChoice, founded by Ana Andres, is a domestic cleaning service in London where you can choose and book a fully vetted cleaner directly online. Independent professionals choose their own area, hours and rates. TidyChoice’s technology cuts out the cleaning agency middlemen so customers get the best service for their money. It has grown quickly to become London’s leading domestic cleaning service. It has thousands of bookings providing hundreds of cleaners with fairly paid work.
Dr Andrés del Valle is a telecom engineer, computer scientist and business innovator. Her areas of expertise include Digital Media and Communications, Human-Computer Interaction and Cloud Services and Platforms. She has worked for European research institutions as well as for blue-chip consultancies and corporations. Dr Andrés del Valle has patented inventions, publishes regularly and advises the European Commission on R&D and innovation project funding. After many years working in the corporate world as a researcher and “intrapreneur”, she decided to make the jump into entrepreneurship and co-founded, TidyChoice in 2015. She wants to radically improve the way people hire professionals who help them take care of their homes and their loved ones.
Dimple Athavia, founder of All Things Drinks
All Things Drinks is an exciting online drinks retailer. They handpick the best wines, spirits, beers, alcohol-free drinks in one curated website and deliver to your doorstep next working day - across the UK.
Founder Dimple Athavia has been working in the drinks industry for over 12 years and she tastes 1000s of drinks a year. She also cares deeply about the environment and works with drinks producers who are doing their bit.
In 2021, Dimple & Russell (husband & wife) invested all of their savings and bootstrapped All Things Drinks and 15 months on, it has been the best decision they made. Dimple says "I quit my job to set up my dream business and worked relentlessly to make it a success. Today I am proud that we took that leap and we have amazing customers who love what we do & keep coming back for the delicious drinks!"
Deyan Dimitrov, founder of Laundryheap
Laundryheap is the world's leading on-demand laundry and dry cleaning service.
After launching in 2014, founder Deyan Dimitrov has successfully scaled Laundryheap to operate across 11 countries - spanning Europe, the USA, the Middle East, and Asia. His business was also featured as one of the Financial Times' fastest-growing companies in Europe.
Deyan Dimitrov is the founder and CEO of Laundryheap. One evening, Deyan found himself standing outside a closed dry-cleaners - the suit he needed for the next day locked inside. It sparked the idea for an on-demand, door-to-door service for laundry and dry-cleaning
Deyan took the decision to bootstrap the business for the first four years, before strategically seeking out venture funding. He used this time to really hone his model, stress test his expansion plans, and build up solid customer loyalty
At the same time, big, VC-backed competitors were expanding rapidly and throwing cash at major tube ad campaigns. Deyan refused to have his head turned and has solidly built up his business whilst, one by one, his competitors faltered.
Earlier this year, Laundryheap acquired their main UK competitor, Laundrapp.
Ste McGrath, founder and CEO of Collective Coaching
Collective Coaching is a business consultancy and marketing team of leading experts in all areas required for a successful online fitness brand to streamline and scale whilst maintaining high standards.
Meet multiple business owner, investor and expert in scaling online coaching businesses to seven figures, Ste McGrath. A Physics secondary school teacher, turned body transformation coach who has combined his passion for teaching and fitness to create Collective Coaching.
Sophie Mercer, founder of Eqcouture
When fellow equestrian and horse owner Sophie Mercer couldn't find the equestrian clothing she wanted, she decided to create her own and, thus, the hottest equestrian sports-luxe brand around town, Eqcouture was born!Sophie started playing with designs and samples back in July 2019 alongside her full-time job working in her father's furniture and stationery business and a bustling side line of buying, producing and selling Irish horses but it was during lockdown that her business began to grow, allowing her to take the plunge and go full time as Designer and Founder of Eqcouture.
Sophie's business has grown from selling 200 pairs of riding tights to a 900% increase in sales since she launched. Sophie now works full-time on the brand and has a dynamic and dedicated team working alongside her. This year, she has taken Eqcouture on the road, featuring at many of the big shows and events across the country, a move which has had a substantial positive impact. The company has over 50% returning customer rate and has racked up a considerable loyal fanbase and a flurry of five-star reviews.
Amish Patel, founder of Intrigue Cosmetics Clinic
Amish Patel Is An Award-Winning Aesthetics Practitioner & Skincare Expert.
Amish's extensive training includes at the Royal College Of General Practitioners and with some of the best Harley Street, International Aesthetic Doctors in the sector. Amish launched Intrigue Cosmetic Clinic in 2016, and his talent for creating beautiful results without the need for surgery has seen his loyal clientele grow year on year. Amish takes a 360 degree approach to his clients, with skincare at the heart of his award-winning clinic, helping clients achieve the skin they feel most confident in, from tailored skincare advice and products through to treatments.
A long standing member of 'Save Face' Amish has achieved ‘excellence’ rating. Save Face is a national register of Accredited practitioners who provide non-surgical cosmetic treatments such as anti-wrinkle injections and dermal fillers. Their Register is accredited by Professional Standards Authority and is recognised by the Government, The Department of Health, NHS England and The Care Quality Commission. Amish is also a member of the ACE Group (Aesthetic Complications Expert) Group.
Joseph Williams, co-founder of Clu
Joseph’s passion is building technology to increase social mobility and equity of opportunity in the job market. He is the Co-Founder and CEO of skills-based hiring platform, Clu.
Clu is a skills-first job marketplace shattering barriers to entry for overlooked and underutilised talent.
Our pioneering Inclusive Recruitment Platform™ uses proprietary algorithms to generate skills matrixes from job descriptions and then matches opportunities to job seekers with those skills in a safeguarded and fully accessible environment.
This approach not only broadens Employers' talent pools but also improves application accuracy and cements using organisations as leaders in inclusive hiring.
Deepak Shukla, founder Pearl Lemon
Deepak Shukla founded Pearl Lemon in October 2016, amidst his great era of learning. It was during that time he wanted a brand of his own to pursue his passion and love for digital marketing- and so digital marketing he sought. He bootstrapped the company while trying to grow within the market virtually. It is the interest in SEO that carried him far, but the aim to become better and overdeliver is what breaks most of his barriers throughout the journey.
Talking about the journey, it is easy to overlook the process with all the glamorous successes. But success is not what all Deepak has knowledge of. He is also familiar with the risks of building a company from scratch with little to nothing other than self-resources to go on. In fact, before founding Pearl Lemon in 2016, he already has a lot of experience going back all the way to 2012. With failings from launching different businesses, you can bet that he had lived with failure enough to understand the depth of building a company.
With all these, he now runs a digital marketing agency doing 7-figures per year. A bootstrapped company fueled with sheer-determination, Deepak outworked the competition and has made it this far. But seeing that he always wants to overdeliver, he didn’t stop at one business, No- he has multiple businesses to work with. Each being in their own areas such as lead generation, e-commerce food industry, public relations, gaming, web development, accountancy, and actually- many more!
Deepak Shukla is forever expanding and still going harder up to this date. Coming from bootstrapping a company, he sure achieved heights that exceeded anyone’s expectations. Deepak Shukla, founder of Pearl Lemon Group operating several businesses, growing faster by the minute.
Eddie Goldsmith, founder of YouConvey
YouConvey is a first of its kind collaborative conveyancing service, helping to make moving house easier than it has ever been, saving home movers up to 8 weeks’ and putting them in control of their conveyancing. Founded by conveyancing professional Eddie Goldsmith, who has worked in the industry for over 40 years, the modern service uses streamlined conveyancing methods and digital transactions to make the process as quick and simple as it can be.
YouConvey customers are kept updated regularly, and everything to do with the transaction is completed from the unique online portal, where all the forms and documents are managed, and updates about the progress shown. One of the key benefits of using YouConvey is home movers are assigned a Home Mover Adviser who takes over complete responsibility for running your conveyancing, guiding customers every step of the way. The Home Mover Advisor is available 24/7 to answer any questions, particularly ideal for first time buyers, keep tabs on progress, and also do any necessary chasing.
With the current turbulent housing market, having an added value service like YouConvey can transform what is recognised as one of the most stressful processes in a person's lifetime, to a quick, smooth and stress-free process.
Alishia Thomas, founder of M0THER
Founded by Liverpool born entrepreneur and mum of 2, Alishia Thomas in 2017, M0THER was initially launched after Alishia struggled to find a flexible work-life balance after having her first daughter, resulting in her joining the freelance industry like many other working mums. From here, Alishia wanted to use her enviable network of business contacts to connect similar mums with new freelance roles in the creative and digital industries, fixing the balance between work & motherhood with flexible working hours for mums.
Since then, in addition to fulfilling this aim, the M0THER brand has also successfully evolved and expanded into a bespoke gifting company with a diverse portfolio of beautifully designed products, to provide the essentials for mums throughout all stages of their motherhood journey.
From personalised sleepwear and self-care beauty products, to cocktail pouches and its very own gin which has been carefully handcrafted to toast the celebration of life and motherhood, M0THER gifts offers something for every mum, with its bold, feminine and playful ethos visible throughout the range.
Emma Brankin, founder of Bauble Magpie
Bauble Magpie is currently shaking up the fuddy-duddy elitist world that is often associated with antique jewellery. This daring brand of intaglios and antique jewellery flawlessly updates pieces using authentic techniques to create wearable, super chic jewellery, which is now stocked in New York and is also worn by celebrities and stylists around the world.
Owner and founder Emma Brankin’s eclectic nature is also showcased in Bauble Magpie’s selection of mid-century delights and her multifarious assortment of ‘Marvellous Oddities’. Reflecting her personal love for the individual and bizarre. With a mission to breathe new wearable life into antique seals (intaglios) and jewellery making them accessible to everyone, every day. As Emma would say: “…. because only dead fish go with the flow”.
Although Bauble Magpie’s offer is centred around intaglios, Emma uses this as her creative launchpad, ensuring that the best in antique chains and bracelets are always waiting in the wings to further assist clients in creating their perfect complete jewellery piece.
Former lawyer, Emma set up Bauble Magpie in August last year after constantly banging her head on the corporate glass ceiling. As a bootstrapped entrepreneur this self-starter brand has skyrocketed, due to the organic power of Instagram, sheer hard work, gritty determination and a new found positive belief in herself.
Nick Ross and Stephanie Murtagh, co-founders of Cavenagh Health
Cavenagh Health are an executive search specialist working to build a better future. As advisors and consultants to companies at the cutting edge of Life Science, they guide early-stage businesses and academic spin-offs within Therapeutics and Medical Technology in heading towards patient and investor goals.
They are heavily involved with the international investment community, working for ground-breaking business models with high impact across human health and with a strong focus on leadership engaged in advancing scientific and technological breakthrough focused on solving major health problems.
Nick works exclusively with biotech start-ups across the world, helping them to identify, understand and secure executive level talent.
Stephanie is a highly experienced search professional with over 20 years’ experience, and is heavily involved with the international investment community, partnering with those at the cutting edge of Life Science to achieve their goals.
Britt-Marie Monks, founder of The Honeymoon & Holiday Fixer
In 2016 while on maternity leave, Britt-Marie Monks was unexpectedly made redundant from her job in telecoms. Having got over the shock Britt took the opportunity to do something completely different and work for herself. She had always loved travelling and initially worked as a self-employed agent for a large travel group before setting up her first travel agency, The Honeymoon Fixer, specialising in destination weddings and honeymoons.
Two years on it became apparent that it would be worthwhile also offering personalised luxury holidays for families and professionals, so in 2018 The Holiday Fixer was launched.
Despite a number of setbacks along the way, COVID being a major one, the business is growing and thriving. Now that travel is more or less back to normal things are looking promising for the future and this year the business is on target to exceed £1.5 million in sales.
Currently there are 8 self-employed “fixers” spread out across the country working under the Holiday Fixer umbrella. In five years time the plan is to have a fully-fledged home working company with around 25 fixers and a core team of business development managers supporting the agents and helping to drive up sales and performance.
Jenny Soydanyavas, founder of Jenny Nordic
Jenny Nordic Skincare’s mission is to make women feel good in their skin!
Jenny Nordic is an eco-conscious and holistic skincare brand that takes its roots from Nordic nature. Our formulas draw on active ingredients from the untouched nature of Northern Europe and are aimed to balance skin and prevent signs of premature ageing.
Jenny Soydanyavas is a serial entrepreneur in the cosmetics industry and the founder of a new minimalist skincare brand Jenny Nordic Skincare. She holds a diploma in organic and anti-ageing skincare formulation.
Originally from Finland, Jenny relocated to the UK in 2015. Before entering the world of skincare and beauty Jenny worked in the public sector helping refugees in Finland and in the employment sector in the UK.
Clara Challoner Walker, founder of Cosy Cottage Soap
While recovering from breast cancer, Clara grew concerned about the harmful effects of detergents and additives used in many commercially produced skincare products. Drawing on her background as a qualified chemist, she began to produce natural handmade soaps in her 350-year-old Yorkshire cottage, which she sold locally. As the business grew, she left her senior role with IBM in the Middle East to focus on expansion. She now employs 19 people and has two workshops and a shop in Malton, Yorkshire.
To create and distribute a luxurious range of sustainable, natural personal care products which provide a cost effective, sustainable alternative to traditional commercial brands. Our diverse team hand-make our products in North Yorkshire using processes which consume minimal fossil fuels and produce no waste. We never use palm oil, SLS, nor parabens, we never test on animals and we do not commission others to do so on our behalf. All our packaging is either recyclable or compostable and our gentle fragrances are created from steam distilled flowers and fruit.
Kathryn Burn, founder of My Christmas Pyjamas and Pyjamily
Kathryn Burn is the Founder and CEO of My Christmas Pyjamas and Pyjamily and was in the 2022 BBC show ‘The Apprentice’ and came second in the show after making it to the final. She never became Lord Sugar’s partner and didn’t win investment BUT she still launched the very successful Pyjamily, the sister to My Christmas Pyjamas.
She says “I absolutely love what I do, and my put my heart and soul in to this company. Every order that comes through really means the world to me and I still do a little happy dance (yes, that really is a thing for a small business)! It also fills me with so much joy seeing customers come through that have ordered every year since I opened - it makes me smile every time!”
Her business mission is probably a bit different than most in that the big thing for Kathryn is bringing families together, and in these times its more important than ever!
This is list goes to show that anything is possible with a clear vision and determination to work within the mission and build businesses that are anchored by resilient entrepreneurial drive.
