LIVERPOOL SEES 150% INCREASE FOR DIGITAL VC INVESTMENT IN TECH NATION’S LATEST REPORT
The results are in from this year’s Tech Nation report and there’s great news for Liverpool. The Tech Nation Report has been the UK’s state of the nation on tech since 2015. The report provides a look into the UK’s tech ecosystem, exploring the drivers of economic growth within the sector.
Liverpool has seen an increase of 150% in digital VC investment from 2018-19, going from £15.4m to £38.5m, demonstrating the strength and speed of growth here.
GVA for the digital sector grew nearly 6 x faster than that of the rest of the UK economy in 2018, now contributing £149bn and accounting for 7.7% UK GVA.
2.9m people are employed by the digital sector in the UK, an increase of 40% from 2017, and now accounting for 9% of the national workforce.
Fintech remains the UK’s largest tech investment sector with 100% rise in 2018.
Natalie Black CBE, Her Majesty’s Trade Commissioner for Asia Pacific, said ‘The report continues to show overseas investors backing the UK tech sector as one of the most dynamic and exciting in the world.’
UK companies secured a third of the £30.4bn of the investment raised by tech companies from Europe in 2019.
In 2019, for every £1 invested into New Technologies (AI, robotics, cybersecurity, blockchain, IoT, virtual reality, and augmented reality) in Europe, 35 pence was invested into UK companies.
The UK is 3rd in the world for the level of AI investment. From 2015 to 2019 UK AI companies raised £3.2bn of global AI investment, only behind the US and China.
The UK is the only country of the top 5 AI nations to have demonstrated consistent positive year-on-year growth for the last 5 years.
The UK raised £7.8bn in cybersecurity investment from 2015 to 2019, behind the US, China and closely follows Israel.
The UK comes in fourth in the world for blockchain investment at £8.9bn of investment for 2015 to 2019.
£1.18bn was raised by UK healthtech companies in 2019, accounting for 61% of the total European market of £1.93bn.
Visit technation.io to view the full report.