UK tech sector retains #1 spot in Europe and #3 in world

The UK technology sector will end the year as Europe’s leading science and technology ecosystem, retaining its position as the main challenger to the US and China amidst a global backdrop of difficult economic conditions, according to figures released this week by Dealroom and the Digital Economy Council.

During 2022, fast-growing UK tech companies have continued to raise at near-record levels (£24bn), more than France (£11.8bn) and Germany (£9.1bn) combined. This takes the total raised over the past five years to nearly £97bn.

The UK has more high-growth companies than European peers, having created 144 unicorns and 237 futurecorns and over 85,000 startups and scale-ups, according to the data.

Upskilling and reskilling have become a key part of the UK’s dominance in tech with nearly 3,000 edtech startups having raised a collective £1.7bn in funding over the past five years. Companies such as Academy, Code First Girls, Immersive Labs and Multiverse are focused on enabling people of all ages to gain the skills they need to succeed in tech roles, from tech apprenticeships to coding, development and cyber security.

See the next issue of CIR Magazine for further analysis.

    Share Story:


Cyber risk in the transportation industry
The connected nature of the transport and logistics industries makes them an attractive target for hackers, with potentially disruptive and costly consequences. Between June 2020 and June 2021, the transportation industry saw an 186% increase in weekly ransomware attacks. At the same time, regulations and cyber security standards are lacking – creating weak postures across the board. This podcast explores the key risks. Published April 2022.

Political risk: A fresh perspective
CIR’s editor, Deborah Ritchie speaks with head of PCS at Verisk, Tom Johansmeyer about the confluence of political, nat cat and pandemic risks in a world that is becoming an increasingly risky place in which to do business. Published February 2022.