Tech Nation Report 2020

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.

Some leading tech companies in the South East include Reading based Tocabot & Oxfordshires OceanMindGlobal according to the report.

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 →

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