London startups have been awarded more than two thirds of the places available on Tech Nation’s fourth Upscale acceleration programme.
Following a record number of applications last year and an intense judging period, the 30 fast-growing “ones to watch” in 2019 tech companies joining Tech Nation’s Upscale 4.0 have been revealed.
Designed to help fast-growth tech companies with fundamental growth challenges, from hiring and international expansion to maintaining company culture, a fifth of the companies selected this year are in the fintech sector, including London startups such as money management app Cleo and crypto exercise app Sweatcoin.
In 2018, London-based tech startups attracted £1.8 billion in funding, more than any other European city and almost double that of its next closest rival.
Digital minister, Margot James, comments: “The UK is Europe’s undisputed tech hub and much of our success is down to the ambition of fast-growth companies like these.”
London is an established world-leader in finance, creative industries and business services, and a growing force in newer industries such as fintech, low carbon and life sciences. It offers some tempting UK tax incentives to support innovation and startup businesses, such as Entrepreneur’s Relief, R&D tax credits, Enterprise Investments Schemes, and more.
At Beavis Morgan, we specialise in working with startups and entrepreneurial people across a wide range of sectors, providing guidance and strategic advice to help in formulating plans for your business in order to strengthen its prospects of success, achieve growth and maximise wealth.
If you would like to find out more about how we can assist you and your startup business or to discuss how any of these tax incentives could benefit your business, contact your usual Beavis Morgan Partner.
Further reading:
UK businesses claim £3.5 billion in Research & Development tax relief