London Technology Week 2015 & Innovate Finance: Money talks Keynote
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Transcript of London Technology Week 2015 & Innovate Finance: Money talks Keynote
London Technology Week 2015 & Innovate Finance: Money talks: VCs take the stage Snapshot of UK’s Funding Landscape Gerard Grech CEO, Tech City UK @techcityuk | @gerardgrech
2!Tech City UK
Who are we? Launched by the UK Prime Minister, David Cameron, in 2010 to support digital entrepreneurship in Tech City. Our aim is to help create the optimum set of conditions for entrepreneurs in London & cities in UK by: 1. Delivering programmes that fill market
gaps across the whole lifecycle of digital businesses (e.g. Digital Business Academy)
2. Providing an agile and responsive feedback loop to government to help shape the right policies (e.g. Visas)
3. Championing and connecting the digital sector in the UK and internationally (e.g. Tech Nation)
Investment in London tech companies in 2014 was 20x what it was in 2010. 2x in 2014 vs 2013.
0
200
400
600
800
1,000
1,200
1,400
1,600
2010 2011 2012 2013 2014
Amou
nt In
vested
(millions
)
+$1.35bn
VC investment in London tech companies is 20x what it was in 2010
UK companies raised 30% of all European VC money in Q4 ‘14
Source: CB Insights/London & Partners, 2015
5 Policy conditions for growth are ripe. Even for exit. The London Stock Exchange recently introduced the high growth segment.
>1Bn
>£1Bn
20% corporation tax (joint lowest in the G7)
Seed Enterprise Investment Scheme
Visas: Entrepreneurs’ Visa, Exceptional Tech Talent Visa,
Investor visa
R&D Tax Credits & Patent Box to fuel more innovation
Europe now has 40 unicorns (£1B valued digital businesses). 17 (42%) in the UK
Source: GP Bullhound, 2015
2 scale-‐up stories (from the Future Fifty program)
$1bn valued business Est. 2011
Est. 2008
>50M registered users
92% Avg. growth of companies in
London
!!
companies surveyed nationwide
1.46m
employed in tech across the UK
50%
of digital companies
founded since 2008
!!
Big Data: 47K companies
>200K
employed in tech in Inner London
London’s notable strengths:
Data Management & Analysis, Software Development, AI
Marketplace, E-‐commerce, Creative industries (Eg. music, fashion), FinTech &
AdTech
2500+
Core Research Partners:
London is at the heart of a wider UK digital ecosystem
where investment opportunities exist across a Tech Nation