Tech companies invest in the UK

New research has found that Britain is one of top locations to start a technology company that reaches a $1 billion dollar valuation.



Key facts:



·         Over the past two decades UK-based entrepreneurs have built 72 companies, including 13 in the past year which have reached a $1 billion valuation – better known as ‘unicorn’ companies.



·         This puts Britain at the third best place in the world when it comes to building a technology business, behind the USA and China, and ahead of Germany and India.



·         The report also found that investors have poured about $5 billion into British tech start-ups since January – and that this confidence showed no sign of slowing in the future.

And it doesn't end there. The Prime Minister has announced this week that tech companies from around the world will invest £1.2 billion into the thriving UK tech sector – ensuring Britain remains the best place to start and scale a tech business.



Key facts: Opening London Tech Week, the Prime Minister also set out plans for further investments in the tech sector including:



·         £153 million government funding, which will be matched by £205 million from industry, to unlock emerging research in engineering and physics.  



·         2,500 places for artificial intelligence and data conversion courses, which will equip people and businesses with the skills they need.



·         A new study designed to identify opportunities and support digital business, ensuring the UK remains the most attractive place to build a tech business.



Why this matters: Already, British Tech adds more than £130 billion to our economy every year; however, we need to maintain the momentum and ensure Britain remains the best place to start and scale a tech business. 

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