.gif)
Tech Nation Report reveals UK tech boomed in 2020
by Startacus Admin
The annual Tech Nation Report has been launched and highlights the resilience and innovation of the UK's tech sector despite the challenges caused by the pandemic and the EU Exit
It’s that time of year again - Tech Nation, the leading scaleup accelerator, has released its annual Tech Nation Report, the ultimate state-of-the-nation report on the UK tech sector.
After what was an extraordinary 2020, the report reveals how the sector has changed, its top performers, and the challenges and opportunities the UK now faces.
Gerard Grech, founding chief executive, Tech Nation, comments: “This year has highlighted the UK tech sector’s enormous resilience and world-beating innovative spirit. In the face of a major global crisis, it has not only survived; in many areas, it has boomed. From EdTech to HealthTech, tech scaleups are at the centre of rebuilding the British economy and setting new standards worldwide.
These are truly exciting times for UK tech. The successes of the past decade have shown what the UK is capable of when policy foresight, investment and a diverse and ambitious pool of talent come together. By continuing to set our sights high, the next decade promises to be the most innovative yet."
.jpg)
In 2020, the UK tech scaleup ecosystem continued its strong growth. Valued at $585bn, startups and scaleups more than doubled (120%) their collective value since 2017.
The report highlighted 10 superstar scaleups, which between them secured 20% of total UK tech VC investment, at $3.5bn including Revolut, Ki and Karma Kitchen.
Octopus Energy, Arrival, Cazoo, Gymshark, infobip, Gousto and Hopin were the seven unicorns to make it into the unicorn class of 2020, bringing the UK’s total unicorn count in 2020 to 80 and an additional 6 unicorns have already been created so far in 2021.
Despite uncertainty caused by the pandemic, UK Tech IPOs gained strong momentum in 2020, signalling the UK’s attractiveness for tech companies and the continued health of the UK late-stage tech ecosystem. Eight of the UK’s tech companies IPO’d on the LSE in 2020, raising a total of £3.1bn.
.png)
There was also a record level of VC investment in 2020 into UK tech companies, despite the backdrop of the global pandemic. The UK hubs driving investment were London, Oxford, Bristol, Cambridge and Edinburgh.
In terms of tech sectors to watch, data reveals a surprising UK sector champion - transport tech - which had a 160% boom in VC investment in 2020. VC investment in deeptech also increased as did investment into impact startups.
With UK tech going from strength to strength, it’s becoming increasingly fundamental to UK economic growth although it does still face significant challenges in an increasingly competitive global landscape.
Check out the full report for more detailed analysis of the state of the nation and what lies ahead!
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Never forget someone's birthday again thanks to Prsnt, the gifting app that enables users to source and send instant presents via text!
West Cork-based startup Riley launches crowdfunding campaign to support growth of its eco-friendly period product service and hits six figures in less than 24 hours
.jpeg)
Business in the hospitality sector? Erik Wolf, founder of the World Food Travel Association shares some great advice and tips on adapting to the new normal...
.jpeg)
Raising capital for your business? Oliver Woolley, CEO and co-founder of Envestors shares insights on the real costs of doing just that...
Flexible childcare provider Bubble offering parents and carers in Greater London startups the opportunity to avail of £1000 of free childcare credits.
Small business and still a little unsure about importing and exporting to the EU? Glen Foster, small business director, Xero shares some guidance...
Innovative digital talent sourcing and on-boarding platform Gigged.AI secures investment to support further product development and team expansion
òtító is a crowdsourced platform that's created a library of factual claims that helps you steer clear of misinformation and use evidence-based information instead
The lowdown on Luminate Medical, the Galway-based startup that has developed an innovative device to prevent hair loss during chemotherapy
SEO should be a vital element of your digital marketing strategy - here's an overview of what it is, why it matters and the potential benefits it can bring
Published on: 16th March 2021
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Deeptech software startup fund launched by Lunar Ventures 15th Oct 2021 A €40M first fund has just been launched by Lunar Ventures to support the next wave of European DeepTech Software startups
- London-founded fintech 9fin Raises £8M Series A 13th Oct 2021 Innovative Debt Capital Markets Intelligence Platform, 9fin secures major funding to support its expansion into the US market
- Future of Work and Workplace Solutions sought for all-island Irish Startup Pitch Comp 8th Oct 2021 Showcase your innovative workplace solution at the Work: In Progress startup pitch competition taking place during the Work: In Progress event on 10th November.
- French startup Cala Announces €5.5M Seed Round 6th Oct 2021 Cala's mission to innovate the catering sector continues as it secures funding boost to support expansion of its fully autonomous restaurant chain
