/UK found to be Europe’s tech unicorn leader | Articles | Innovation (via Qpute.com)
UK found to be Europe's tech unicorn leader | Articles | Innovation

UK found to be Europe’s tech unicorn leader | Articles | Innovation (via Qpute.com)


The UK is
the birthplace of more tech companies valued at more than $1bn (£786m) than any
other European country, research from the UK government has found, with the
country being home to more than a third of Europe’s fastest-growing tech
companies

According
to the report, in the last 20 years UK-based entrepreneurs have created 72 tech
unicorns – 13 in the past year. This number has only been topped by the US and
China, with Germany and India having created 29 and 26, respectively.

Among the
list of tech unicorns in the UK were London-based digital bank Monzo and food
delivery service Deliveroo.

The survey
follows the revelation that global tech giants have promised to invest more
than $1.5bn (£1.2bn) in the country. UK Prime Minister Theresa May will
announce the business pledge on June 10 at the opening of London Tech Week.

“Already we are
one of the best places in the world to start and grow a tech business,”
May will say in her speech.

“British tech is
growing over one-and-a-half times faster than the rest of the economy, adding
more than $163bn (£130bn) to our economy every year. But if we are going to
maintain our position as a global leader, our challenge is how we develop
British tech and make it even better.”

She will add: “We
want this to be the place everyone thinks of – and comes to – first when they
want to develop their world-changing tech ideas. This is a challenge shared
between industry and government.”

May is also expected to
commit the government to invest £153m ($193m) into the development of quantum
computing alongside an additional £205m ($258m) focusing on how the technology
could accelerate drug development.


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