Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Half of UK tech firms need greater support to scale, says report

by August 10, 2022
August 10, 2022
Half of UK tech firms need greater support to scale, says report

Half of the UK’s technology companies are lacking in the support necessary to scale the business, according to a new report today.

The UK has a thriving technology space, securing 54 IPOs which have collectively raised £3.2bn – with 37 of these taking place last year, the report by Tech Nation, a body for UK tech entrepreneurs, found.

The figure includes fan favourites such as Deliveroo, The Hut Group and Funding Circle, which cumulatively raised £1.91bn.

However, 50 per cent of tech companies – particularly those focussed on developing emerging technologies, such as cyber – are not scaling, the report found.

“We know that the UK is globally renowned for its success in fintech, which dominates for IPOs, and although this is truly exciting news, we must not ignore the fact that an even larger percentage of tech companies are not seeing the same success,” Dr George Windsor, research and data director at Tech Nation, said.

Windsor urged that the newest wave of UK tech firms must be ‘nurtured’.

The UK’s tech leaders have long called for greater support and funding in the tech space, as the country’s research and development (R&D) falls behind what is needed to be a global leader.

“Our product is innovation and if you don’t support that product and get that product out into the world, then the country just becomes a service industry,” CEO of British semiconductor firm Paragraf, Simon Thomas, said. last week, warning that the economy would “eventually end up in situation where most of the jobs are low skilled, low pay” unless the government increased support.

While proper support appears lacking, the Tech Nation data found that a record number of UK tech companies that have been able to scale are exiting, with 23% of tech firms making it to Series C or a high-quality liquidity event in 2021.

Read more:
Half of UK tech firms need greater support to scale, says report

0
FacebookTwitterGoogle +Pinterest
previous post
What to look for when predicting a recession
next post
Sentiment Rebounding Too Much

You may also like

UK Businesses Struggle to Keep Pace with Cyber...

March 19, 2024

City bankers press Reeves to ease non-dom clampdown...

February 20, 2025

Why embracing Industry 5.0 is a game changer...

May 21, 2024

Business Owners Criticise Tax Hikes, Urge Chancellor Not...

November 22, 2024

Modern Milkman secures £50M after closing investment round

November 22, 2022

Small firms call for action as job vacancies...

October 11, 2022

More than $100m worth of NFTs stolen since...

August 25, 2022

Oxford University shuts down its incubator for start-ups

September 5, 2022

Will UK Budget in March spark pension exodus?

January 6, 2023

Crypto Converter: A User-Friendly Tool for Effortless Digital...

July 18, 2023

UK Businesses Struggle to Keep Pace with Cyber...

March 19, 2024

City bankers press Reeves to ease non-dom clampdown...

February 20, 2025

Why embracing Industry 5.0 is a game changer...

May 21, 2024

Business Owners Criticise Tax Hikes, Urge Chancellor Not...

November 22, 2024

Modern Milkman secures £50M after closing investment round

November 22, 2022

Small firms call for action as job vacancies...

October 11, 2022

More than $100m worth of NFTs stolen since...

August 25, 2022

Oxford University shuts down its incubator for start-ups

September 5, 2022

Will UK Budget in March spark pension exodus?

January 6, 2023

Crypto Converter: A User-Friendly Tool for Effortless Digital...

July 18, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

      July 4, 2025
    • UK revealed as Europe’s worst country for commuters in new ranking

      July 4, 2025
    • This July 4th, a family waits: American hostage’s father pleads for son’s freedom from Hamas terrorists

      July 4, 2025
    • $88m methane-tracking satellite lost in space, dealing major blow to climate monitoring

      July 4, 2025
    • New US visa rules will force foreign students to unlock social media profiles

      July 4, 2025
    • The real Formula 1: British Grand Prix highlights UK’s £16bn motorsport economy

      July 4, 2025

    Categories

    • Business (8,393)
    • Investing (2,102)
    • Politics (15,945)
    • Stocks (3,189)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved