UK attracts Europe’s most valuable startups | Money Talks Description video: Unicorns. They don’t really exist, except in the rarified world of tech startups. Achieving unicorn status – technically speaking, a privately-held company worth more than a billion dollars – […]
UK attracts Europe’s most valuable startups | Money Talks
Unicorns. They don’t really exist, except in the rarified world of tech startups. Achieving unicorn status – technically speaking, a privately-held company worth more than a billion dollars – is the dream of many an entrepreneur. And now unicorns are becoming easier to spot in the UK. It’s home to 13 of Europe’s 34 such companies. But as Shaun Hassett reports, Brexit could soon make them harder to find. Guy Shone, CEO of research firm Explain the Market, joins us from Paris.\n\n\nSubscribe: http://trt.world/subscribe\nLivestream: http://trt.world/ytlive\nFacebook: http://trt.world/facebook\nTwitter: http://trt.world/twitter\nInstagram: http://trt.world/instagram\nVisit our website: http://trt.world
UK startups raise record investment
More foreign investment in UK tech startups in seven months than in the entire year.
As found in a study by industry group Tech Nation and data firm Dealroom, American and Asian venture capital funds have poured $ 3.7 billion in UK tech companies for the first seven months of 2019. Last year, the volume of funds raised amounted to $ 2.9 billion.
The largest investments came from Amazon and SoftBank. Amazon transferred $ 575 million to Deliveroo in May. SoftBank has funneled $ 800 million to Greensill and $ 390 million OakNorth.
A total of $ 6.7 billion was invested in private UK tech firms in 2019, according to Tech Nation.. It is assumed that by the end of the year, this figure could rise to a record $ 11 billion. UK start-up corporate venture funding has increased 3% over the past six years, while Asian corporate funding has grown by 20%.
The UK has attracted the most foreign funding for technology companies compared to other European countries. For example, in the first half of the year, German startups raised about $ 800 million from American and Asian investors. French companies raised only $ 500 million.
Commenting on investment performance Culture Minister Nicky Morgan said these fantastic numbers demonstrate the confidence of foreign investors in British technology.
«Statistics confirm our reputation as one of the best countries in the world to start and grow digital businesses», – he thinks.
Experts point out that the country has managed to maintain a diverse range of startups. However, the most in demand projects are dedicated to medical technologies, artificial intelligence and cybersecurity..