New data has found that the UK tech sector experienced a record year as startups receive more capital than ever before.
figures for the government’s Digital Economy Council found that startups raised £29.4bn, which is the most since 2014.
“Capitalising on this fantastic investment across the country is a crucial part of our mission to level up, so we are supporting businesses with pro-innovation policies and helping people to get the skills they need to thrive in this dynamic industry,” said Chris Philp, the digital minister.
Saul Klein, who is a partner and co-founder at LocalGlobe and Latitude, commented: “It’s taken 20 years for UK tech to get to the starting line and things start to get interesting in the next 20 years. We have all the ingredients to become the leading tech ecosystem in the world, with record levels of research and development, financing and established tech hubs across the country from New Palo Alto in Kings Cross, to Cambridge, Edinburgh and Manchester.”