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UKHotViews©

 

Wednesday 15 May 2019

UK a hotbed for tech innovation and scaleups

pic“The truth is in the numbers”, as I always say. And the numbers just published in the latest report “UK Tech on the Global Stage” from Tech Nation, the UK network for tech entrepreneurs part funded by the Department for Digital, Culture, Media & Sport, demonstrate that tech innovation is alive and well and thriving in the UK.

Here’s just a taster:

  • Total venture capital investment in UK tech in 2018 reached £6.3bn, more than any other European country, of which 80% went into high-value scaleups.
  • The recent growth rate for London tech scaleups at 56% makes the cluster first in the world for scaleup growth.
  • With £5bn of scaleup investment, the UK ranks fourth in the world, after the US, China and India.
  • Scaleup tech investment was 2.5x higher than expected based on the relative size of the UK economy.
  • 35% of Europe and Israel's 169 unicorn tech companies have been created in the UK.
  • Investment in AI grew almost six-fold from 2014 to 2018.

TechMarketView has been a long-time supporter of UK tech SMEs, from startups through scaleups to mature success stories. Next week we will be hosting six more high-potential SMEs at our sixth Great British Scaleup Programme with our partners ScaleUp Group, the network of successful tech entrepreneurs responsible for over £4bn of exits. Our new Innovation Partner Programme takes this initiative one step further, partnering innovative UK tech SMEs with enterprise tech companies to help them scale up even quicker.

You can read the Tech Nation report here. The UK has much to be proud of.

Posted by Anthony Miller at '07:57' - Tagged: funding   scaleup  

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