Latest research shows that the UK remains the European leader for innovative technology startups, attracting more talent and investment than any other country.
Atomico’s State of European Tech report*, a review of European technology today, shows that the UK was the top European location for so-called deep tech – machine learning, engineering innovation and scientific discoveries.
Over the past five years, the UK digital tech economy has attracted more venture capital (VC) and private equity (PE) than any other European country, standing at £28 billion (Tech Nation 2017).
This is testament to the UK being Europe’s digital epicentre. With impressive access to capital and skills, some of the world’s leading universities and a highly evolved digital tech ecosystem, the UK is a magnet for international investment.
However, according to Atomico’s report of more than 3,500 founders, investors and other industry participants, say confidence in the future of European tech was down, with almost a third of those surveyed saying they are finding it increasingly difficult to raise case.
On the whole though, the technology sector is thriving, with the UK on track for a record $19 billion of investment this year (2016 – $14.4 billion).
“This year’s findings reveal the state of European tech in 2017 is the strongest it has ever been,” says Tom Wehmeier, Partner and Head of Research, Atomico.
“Europe is building a tech ecosystem in its own image, defined by deep tech expertise, incredible geographic diversification, and a uniquely collaborative approach with traditional industry. The solid foundations that have been laid – a huge and deep talent pool, founders with global ambition levels, and a large, growing and increasingly sophisticated investor base – means that Europe marches to its own beat.
“The question of whether Europe can produce world-class innovation has been put to bed. The question of whether it can produce a $100 billion company has been put to bed. And the probability that the next industry-defining company could come from Europe – and become one of the world’s most valuable companies – has never been higher.”
Being centrally located within walking distance of ‘silicon roundabout’, our technology business experts at Beavis Morgan work with many entrepreneurial businesses in the tech sector, helping them set up and run their own businesses and guiding them through each stage of the process, whilst navigating the challenges and advising them in making the right decisions both now and for the future.
We are also available to assist with ‘money back for research and development’ claims and our R&D** tax credit specialists are on hand to maximise the value of any potential claim and manage the somewhat complex process on your behalf.
If you would like to find out more about how we can assist you and your tech business, contact Steve Govey or your usual Beavis Morgan Partner.
* Atomico’s State of European Tech report
** Research & Development – Tax Credits for SMEs: Money back for investing in innovation