Tech Nation has reveals the 24 dynamic, fast-growing, late-stage technology companies selected to join its Future Fifty cohort in 2019.
Future Fifty was established in 2013 to champion and support British tech businesses as they scale up their operations nationally and internationally. The programme supports the companies in creating jobs and opportunities across the UK and inspiring the next generation of entrepreneurs.
Each company chosen for the 2019 cohort will benefit from access to the world’s experts – a peer network to support and inspire, troubleshoot and collaborate, a tailored programme of masterclasses to help take businesses to the next level, and direct contact to senior decision-makers in Government. Meanwhile, access to the best global talent is made easier by a dedicated Tech Nation visa team which provides expert assistance with Tier 1 visa applications.
Companies chosen to join the latest Future Fifty cohort must have gained considerable traction within their chosen markets and shown the potential to become global technology leaders of tomorrow.
The Future Fifty businesses reflect key trends in UK technology sectors. Fintech – currently attracting very high levels of investment – is an especially strong presence, with 10 out of 24 on the list offering technology-driven financial services. Other sectors represented include: Hardware & Internet of Things, Cyber Security, Software as a Service, Digital Media, Marketing & Adtech, Data Analytics, Ecommerce, and Healthcare.
Around 60% of the ventures target B2B sales.
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Significantly, the cohort reveals geographical diversity. Five of the new businesses are headquartered in regional cities: Cambridge, Bristol, Glasgow, Nottingham, and Watford.
The programme extends over 24 months, and the companies coming on board in 2019 will be joining 26 businesses from the previous (2018) cohort.
Since its launch in 2013, 127 businesses have taken part in the Future Fifty programme and the list of alumni includes some of the highest profile names in the technology sector, such as Skyscanner, Deliveroo, Funding Circle, Transferwise, and Just Eat.
Future Fifty alumni have been very successful at raising funds. Figures compiled by Tech Nation indicate that companies participating in the programme between 2013 and 2018 have raised a combined $8bn via VC funding and capital markets. The sums raised each year have grown steadily over the lifetime of the programme, from $199m in 2013 to $2.5bn last year. In addition to a total of 29 M&A/trade sale deals, nine of the Future Fifty alumni have successfully taken their companies to market via Initial Public Offerings (IPOs).
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The programme is supported by partners, Barclays and Macfarlanes, which offer their expertise to aid the companies’ growth via roundtables, open hours and thought leadership. Barclays’ support ranges from bespoke operational banking, capital and funding, and supporting founders as they seek exit from the business. Macfarlanes helps with raising new funds, planning for an initial public offering and international expansion; it also helps with operational needs with regards to competition law compliance, tax, immigration, anti-trust and GDPR compliance.
Jeremy Wright, Secretary of State for Digital, Culture, Media and Sport, said: “The UK has a fantastic track record of producing globally successful tech companies and I’m pleased to see another diverse and impressive group of firms in Tech Nation’s 2019 Future Fifty Programme.
“The list highlights the underlying strength of our digital economy and emphasises its huge potential. We are doing all we can to make sure this vital industry continues to grow and our young businesses are given the right support to thrive.”
Parveen Dhanda, Future Fifty programme lead at Tech Nation, said: “The companies we’ve selected are established in their chosen markets and are at the point where they can look forward to scaling up rapidly. These are incredibly talented and visionary entrepreneurs. The peer connections and access to global experts that is on offer will help them fully deliver on their potential.”
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This year’s cohort:
Fintech: Aire (London); Blockchain (London); Currencycloud (London); MarketInvoice (London); Monzo Bank (London); Nested (London); Quantexa (London); Starling Bank (London); Revolut (London); Salary Finance (London)
Data Analytics: Behavox (London)
Ecommerce and Marketplaces: Bizuma (London)
Hardware Devices and Internet of Things: Bulb Energy (London); M Squared Lasers (Glasgow); Reach Robotics (Bristol)
Digital Entertainment: Culture Trip (London); Mediatonic (London)
Software as a Service: Ensek (Nottingham); Kimble Applications (London)
Cyber Security: Garrison Technology (London).
Biotech and Healthcare: Ieso Digital Health (Cambridge).
Adtech and Marketing: GlobalWebIndex (London).
Enterprise Software: Perkbox (London); StarLeaf (Watford).