Tech startups not doomed by recession

Those firms that do start to grow now also have a head start on companies that are funded after them when the markets eventually settle. "It's a fantastic time to try and get a bit of money or bootstrap it yourself because you can make a lot of progress while everyone else is asleep or while all the research and development departments are being shut down," said Amadeus' John.

"And that's not lost on early stage venture capitalists either. It's a great time to invest in very young, very low capital intensity companies that are trying to do something big," he adds.

The money's still there

Overall, there seems to be a consensus that, even in these tighter times, the funds are still there for the right kind of business.

"Less companies overall will get backing but the best ones will continue to get funded," Dalle offers.

"It definitely isn't a bad time to have a great tech idea," Dalle adds. "We just had a British business come in to present to us yesterday and Index Ventures has decided to pursue the investment, so if you have something that is very compelling it can still get funded."

John agrees: "Companies are getting funded, the good ones."

"It's going to take more resilient people and better plans to push their way through these tougher conditions," John says, offering hope to those about to take the plunge. "And I think some of the best companies will be started now."