Tech Nation Report - 2019
The annual Tech Nation Report has been the UK’s state of the nation on tech since 2015. Each year the report provides a comprehensive look into the evolution of the UK’s tech ecosystem, exploring the drivers that underpin and power economic growth within the sector.
Norwich and the East of England have contributed to the report since it's beginning, helping to provide a report to Government ministers, policy makers and international business leaders.
The Tech Nation Report 2019 delivered some good news for the East of England and Tech East. For the first time since 2016, the East of England is grouped together. You will recall that when the Tech East manifesto was published in 2016 one of the 3 corporate goals was to be recognised as a top 5 UK Tech Cluster by 2020. Based on the stats from each regional page (on the assumption that these are accurate) we’ve beaten that target a year early!
Speaking on the 2019 report, UK Prime Minister, Rt Hon Theresa May MP, commented: "The UK is a global tech powerhouse. I am immensely proud of our country’s ambitious tech scaleups. These companies are delivering significant economic value to the nation through the investment they raise, the jobs they create and the innovative products and services they deliver."
Key Stats from the 2019 report:
- 4th – The UK is fourth in the world for scaleup investment after US, China and India
- 2.5x – Scaleup tech investment 2.5x higher than expected based on the relative size of the UK economy
- £6.3bn – Total 2018 venture capital investment in UK tech topped £6bn, more than any other European country
- 5% – The UK remains hotbed for tech talent, employing 5% of all high-growth tech workers globally, placing the UK ahead of Japan, France and India
- 35% – To date, 35% of Europe and Israel’s tech unicorns ($1bn valued businesses) have been created in the UK
- 1st – The UK leads the rest of the world in fintech – investment in high-growth fintech firms achieves £4.5bn between 2015 and 2018