Press releases

Design duo near £1m milestone

The annual turnover of a hi-tech company started in a bedroom seven years ago is set to break through

the £1 million barrier for the first time.

bit10 ltd, which builds web sites and applications, was started by University of Warwick graduates Alexander Craig and Ben King, who are now Senior Directors of the business.

Originally based in Alexander’s bedroom, the company soon took off and moved into the smallest and then the largest premises at the University of Warwick Science Park’s Venture Centre.

The company has since moved into Sovereign Court on the Science Park and is expanding for a fourth time by taking over a second unit at the premises off Sir William Lyons Road in Coventry.

From its humble beginnings, the company now employs 20 staff – which they expect to increase to 30 by next year following the expansion – and are confident of breaking through the £1 million mark in annual turnover by the end of the financial year.

bit10 ltd has built up an impressive list of public and private sector clients, including Coventry City Council, Leicestershire County Council, BECTA, University of Warwick, Cranfield University, the National College of School Leadership and the Derbyshire Building Society.

The success of the company has seen it regularly included in the Deliotte Fast 50 for the Midlands.

There has been no outside investment in the company and Ben said they intend to remain an independent company.

“We are open and honest in the way we deal with our clients and suppliers and make objective and practical recommendations,” he said.

“While we don’t claim to be perfect, we work very hard to deliver our projects on time and on budget.”

Alexander said they were both grateful for the support they had received from the University of Warwick Science Park.

He added: “The Science Park has supported us all the way and it is great to have been able to work with them and expand in line with our business plan.”

David Grindrod, Deputy Director of the University of Warwick Science Park, is delighted they have been able to help.

“bit10 is one of the many successful companies the Science Park has been able to support and it is wonderful to have been able to play a small part in the company’s development,” he said.

“bit10 have been able to benefit from the wide range of property at the Science Park - the latest space available at Riley Court can offer up to 12,000 sq ft, ideal for companies like bit10 when they need space for their next phase of growth.”

05/11/04