The UK, by dint of its industrial and digital strategies, is allowing remarkable tech ideas to metamorphose into powerful phenomena, stretching the boundaries of science and enhancing people's lives in the process. As far as nurturing startups is concerned, the country is ranked 1 in Europe and the core areas where it is encouraging growth include fintech, healthtech and artificial intelligence. With able support from the government for cutting-edge research, the country is at the vanguard of European innovation. The current breed of entrepreneurs are inspired by the successes achieved over the past decade.
London has 36 unicorns to its credit that are worth $132 billion, and with 21% of the fastest-growing unicorns in Europe is the unicorn hub of its continent. It is important for the city to continue collaborating with other tech hubs in the UK because when London shines, the entire country stands to benefit.
Oxford is blessed to be home to the world-famous Oxford University, which has been critical to the establishment of unicorns through its researchers, projects and initiatives. Investors have been more than happy to finance the spinouts originating from the university's labs and research centres.
Oxford Nanopore built a mobile DNA sequencer, which was no bigger than a USB stick and this DNA sequencing technology has now made its way to more than 80 countries.
Cambridge too has emerged as one of the leading tech hubs in the UK. World-renowned educational institutions are facilitating the creation of unicorns here and it has even outperformed a major European capital like Berlin.
Darktrace, a unicorn that offers AI cyber defense to Drax and Taspberry Pi, is situated in Cambridge and owes its existence to Cambridge University mathematicians and experts from CIA, GCHQ and MI5.
Manchester once led the industrial revolution and today after many a generation, it is creating waves in the digital tech sector and creating new opportunities and jobs. Based in north England, the city has a conducive environment for the e-commerce initiatives of retail businesses and is neck and neck with Amsterdam so far as producing unicorns is concerned.
Manchester has 10 accelerators – specialised business centres that help entrepreneurs launch a startup – and the investment per head of population is nearly $500.
The Hut Group began in Manchester and is now a global name, what with its access to supply chains and talents globally.
Some of the most groundbreaking startups operational presently in the UK are as follows:
A biotech venture which boasts of having Microsoft co-founder Bill Gates as one of its backers. It is the brainchild of an Oxford University spin-off and now works with universities worldwide.
This venture is concerned with the development of ghost kitchens that prepare deliver-only meals.
Based in Scotland, this entity simplifies travelling for online users by furnishing them with the most feasible options in terms of airfares, hotel bookings, etc.
An already renowned name that with its establishment in the UK is helping businesses build prized customer relationships by empowering them with information in the form of insights.
True to its name, Open Cosmos works towards addressing the biggest challenges posed to mankind such as earth preservation, global communication, etc.
The United Kingdom will be the most dominant force to reckon with in the future too as far as unicorns are concerned. The potential unicorns are already valued at $18.6 billion and are well over 50 in number. Germany, France and Israel are at the max vying with each other for the second position but are behind the UK by a significant margin.