Great Britain is a nation of inventors. From phones to light bulbs, cat eyes and the latest vaccine development – innovations in our DNA. We can look back on the enduring experience of changing the world by breaking the status quo.
Looking ahead to the challenges facing the world as it recovers from the global pandemic, alignment and climate change, innovation and disruption will be central to our response. Technology will play a key role.
Over the last couple of decades, the UK has nurtured a growing ecosystem of outstanding technology founders and is now the world’s leading hub for technological innovation. According to statesmenlast year, British technology received more money than ever – 29.4 billion pounds, more than twice as much as in 2020.
British technology is a gem in the European crown, and investment in our home-grown technology entrepreneurs and startups accounts for a third of the £ 89.5 billion that entered the European technology ecosystem last year.
The huge attractiveness of British technology for venture investors has remained this year. The latest from KPMG Venture Pulse Report shows 745 deals made in the first three months of 2022, raising more than £ 6.9 billion ($ 9 billion) in the hot sectors including fintech, medical technology and e-commerce. This is almost equal to investment in Germany and France combined.
With 41 unicorns created in the UK in 2021, there is no doubt that the UK has created an environment where it is possible to build a multi-billion dollar technology business that can thrive. We have all the ingredients to become the world’s leading technology ecosystem with first-class universities, a leading financial center and a high level of research and development.
But our real strength lies in the diversity of our technology centers across the UK.
The UK draws strength from regional technology centers
The diversity of the UK’s large-scale ecosystem and our ability to develop growing networks in cities up and down the country are playing an increasing role in our success in attracting global venture capital investment. We are increasingly seeing investment in key centers such as the Midlands, North and Scotland in addition to the London Power Station.
The KPMG Venture Pulse report for 2021 found that in 2021, more than £ 8.1 billion had been invested in the UK’s regions. Venture capital investment in British innovators based outside London has more than doubled since the pandemic (+ 59% of the £ 3.3bn invested in 2019).
The network of advanced technologies in the UK, which is emerging across the country through entrepreneurship, creates new jobs and creates wealth. It is important that we continue to grow our fast-growing business as a key part of our upgrade program to help regions develop their own infrastructure to support growth, investment and employment.
Advocating, supporting and celebrating our army of technology entrepreneurs across the country is central to KPMG’s annual competition to uncover future technology titans from across the UK who will continue to represent the best of the UK on the world stage.
KPMG is looking for the next British technology titans
Our search for outstanding British technology innovators is the ninth year and it has had previous winners such as Echo Healthcare, What3Words and FIDO Tech go further to achieve global success and investment.
The competition is open to business expansion from an early stage to accelerated growth, who are invited to present their innovations and present their growth ambitions to groups of local and global industry experts. The first competition will be held at the regional level to determine the final list of innovators representing the best from across the UK.
Participants will have the opportunity to be recognized as one of the most successful technology innovators in the UK and gain access to networking opportunities among industry experts, their colleagues and other technology innovators. The winner of the Tech Innovator in the UK and the winner in each of the other participating countries will advance to the finals of the Global Tech Innovator at the Web Summit 2022, where they will compete on the world stage.
Applications are open, so if you are the technical titan of the future, we look forward to hearing from you KPMG Private Enterprise Tech Innovator – KPMG United Kingdom.
From Edinburgh to Cambridge, technology and innovation open up many opportunities and growth across the country. By supporting innovation and disruptions in the UK, as well as helping founders take advantage of the opportunities that the innovation economy will provide, the UK can be at the forefront of responding to the future challenges facing the world.
Warren Middleton is a lead partner at the Emerging Giant Center of Excellence at KPMG in the UK, a specialty practice that works with fast-growing companies across the UK.
This content is part of a paid partnership with KPMG.
Innovative startups are making British technology a gem in the European crown
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