The Tech Nation Report 2020 provides a comprehensive overview of the evolution of the UK’s tech ecosystem, exploring the drivers that underpin and power economic growth within the sector.
Key facts from the report:
- Digital tech sector GVA grew nearly 6x faster than the rest of the UK economy in 2018 – contributing £149bn to the UK economy and accounting for 7.7% of UK GVA
- Digital tech employed 2.9m people in the UK in 2019, an increase of 40% from 2017 (now accounting for 9% of the national workforce)
- 95 UK companies valued at between $250-$800m in the UK in 2019 – a 27% increase from 2018 – set to become the tech unicorns of the future, of which there are 77 in the UK
- 25% of Europe’s top 20 highest investment tech cities are in the UK – Manchester, London, Bristol, Oxford and Cambridge.
South East Key stats:
— £300m Total VC investment in 2019
— £448m Investment in emerging tech (2015-2019)
— £281m Invested in AI (2015-2019)
— 7 Digital tech unicorns
— 11 High-value tech scaleups
— £36,000 Median digital tech salary (2018)
View the full Tech Nation 2020 report →