UK Named Tech Unicorn Capital of Europe
13 June 2018

Recruiting for heaps of exciting roles across IT and tech, we’re always excited to hear of new developments in the industry and leading experts, small businesses and entrepreneurs at the forefront of innovation. This month, it’s been revealed that the UK is home to a third of the continent’s billion dollar start-ups, resulting in our home turf being named the tech unicorn capital of Europe.

If you work in the tech industry you might be aware of the scope of diversity and talent in tech across the UK, from and IT and digital to fintech, including businesses local to us like Yatter (read our full interview with CEO Richard Norman here). But it’s massive companies like Deliveroo, Benevolent AI and Oaknorth Bank (that hold a $1bn valuation) that have bagged the UK its title as tech capital, contributing to a score of 13 out of the total 35 tech unicorns. This means that the UK’s tech giants contribute $23bn (£17.1bn) out of a combined value of $62bn for all 34 companies, with firms like Just Eat, Zoopla and Purplebricks having forged success valued as $1bn+ since 1990.

Interestingly enough, since the integration of AI into leading companies is becoming the norm, finding its way into every industry from food to weapons and journalism, investment into its future in tech has increased by 50% in the past year, rivalling fintech as leading the sector. AI has also contributed to 10% of all tech rises in London in the past year.

These figures have emerged after data was published this week showing the UK at the forefront of venture capital funding, having raised more then £5bn post-Brexit.

Commenting on the data, Secretary of State for DCMS Matt Hancock said: “These new figures show the UK is the digital dynamo of Europe and we are achieving our goal to be the best place in the world to start and grow a tech business.”

What do you think of these recent revelations? We’d love to hear your opinion! Chat with us and follow us on FacebookTwitter and LinkedIn. If you’re in tech and IT and know someone that might suit some of the current roles we have on, such as our recent posts for a Head of IT operations and a Head of Data & Analytics based in Glasgow, give us a shout on 0141 212 5130.