Tech Nation, the UK network for digital tech entrepreneurs, has revealed the 30 fast-growing tech startups that have been selected for its prestigious Upscale programme, now in its fourth year.
The 30 young companies were chosen from over 100 applications to the programme and will be coached over the next six months by some of the UK’s most successful entrepreneurs and leading startup founders.
The six-month programme, which got underway last night by bringing all the companies together at the Farncombe Estate in the Cotswolds, is designed to help fast-growth tech companies to successfully navigate the challenges of growing to the next stage. The challenges that most concern these growing companies include hiring and retaining talent, maintaining culture while scaling and expanding into new markets.
Upscale is a programme with a strong focus on learning from peers. It includes workshops, mentoring sessions and networking opportunities. Participants will benefit from frank mentoring from scale coaches who will conduct workshops and events over the next six months, helping the cohort to tackle challenges involved in scaling their businesses to the next stage.
During the launch, companies heard from Aneesh Varma, founder & CEO of Aire, Angie Ma, co-founder & COO of ASI Data Science and Cherry Freeman, founder of LoveCrafts, on the challenges of scaling and leadership.
Tech Nation said the 30 digital tech startups that have been selected represent some of the finest early stage talent from across the UK and it is expected that many will successfully grow into the next generation of digital household names. Companies joining the programme have on average 40 employees and revenues of more than £1.5m a year. Most of the companies on Upscale 4.0 have already raised a Series A round and the cohort has collectively raised £188m.
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The Upscale companies are drawn from all tech sub-sectors, with a fifth of companies in the fintech sector and another fifth that are e-commerce and marketplace startups.
Margot James, minister for creative and digital industries, said: “The UK is Europe’s undisputed tech hub and much of our success is down to the ambition of fast-growth companies like these. I congratulate all the companies joining Upscale today and the significant potential and innovation they have shown.
“We are determined to make the UK the best place to start and grow a business, and through our digital and industrial strategies we want to see the power of technology change people’s lives for the better.”
Sinead Daly, mid-stage programme lead at Tech Nation, said: “I’m delighted to welcome this year’s companies onto the Upscale programme. As we enter our fourth year, Upscale has built an incredible network of over 100 alumni, who have a wealth of experience to share with the cohort.
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“Our off-site launch event will bring our founders together for the first time and enable us to embed those tight-knit connections upfront, think about what scaling really means and explore how leaders can thrive while managing such rapid growth.
“The Upscale programme is made possible with the help and support of our programme partners, who share their expertise and experience, and help advise companies on a range of issues. We’d like to thank our partners Silicon Valley Bank, RSM and Cooley.”
Without further ado, the Upscale 4.0 companies of 2019 are: Airsorted (proptech); Apperio (legal); Automata (hardware, devices & IoT); BookingLive Software Ltd (enterprise software & cloud computing); Cleo AI (fintech); Doctify (healthcare & biotech); Fertility Focus (healthcare & biotech); Fluidly (fintech); Funding Options (fintech); FUTRLI (SaaS); Healthera Ltd (healthcare & biotech); Hubble (e-commerce & marketplace); Immersive Labs (data analytics & cybersecurity); Koru Kids (edtech); LendingCrowd (fintech); MoveGB (e-commerce & marketplace); OLIO Exchange Limited (tech for good); Open Cosmos (space); OpenRent (proptech); Oxehealth (healthcare & biotech); Patch Gardens Ltd (e-commerce & marketplace); Previse (fintech); Shepper (data analytics & cybersecurity); Sweatcoin (tech for good); Tessian (SaaS); The Accountancy Cloud (fintech); The Plum Guide (e-commerce & marketplace); Voxpopme (e-commerce & marketplace); Wazoku Ltd (SaaS); and WeFarm (Agtech).