Welcome to your roundup of some of the past week’s most interesting surveys, statistics and reports relevant to those involved in the UK tech industry.
This week, we have statistics looking at the Internet of Things, the sharing economy, employee expenses, gender equality and VC-backed FinTech funding.
Internet of Things
Research by the Environmental Technologies Fund (ETF) Partners has revealed over 90% of institutional investors view IoT to be important or very important for delivering sustainable economic prosperity.
The Internet of Things & Sustainability Survey of over 200 institutional investors also indicated that energy efficiency and the smart grid are the most important sustainability applications for IoT companies.
Some 25% of investors think the potential for IoT is currently underestimated, however.
The sharing economy
The term ‘sharing economy’ is a mystery to 95% of the population, according to research conducted by peer-to-peer car rental company easyCar Club.
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The survey of 1,000 people found a huge 60% have never heard of the sharing economy, whilst 35% have heard the term but claim to know very little about it.
This is despite 70% of respondents claiming to have used a sharing economy platform, such as Uber or Airbnb, in order to make or save money.
Of peer-to-peer companies, accommodation platforms are the most popular, with 23% of Brits having used platforms like Airbnb.
Richard Laughton, CEO of easyCar Club, commented: “It’s clear that the rise of well-known sharing economy platforms such as Airbnb and Uber hasn’t yet translated into understanding of the term itself.”
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While London is typically the birthplace of new peer-to-peer startups, Yorkshire and the Humber is the region most likely to have heard of the sharing economy (45%).
“People are keen to embrace borrowing someone’s house or parking space, but aren’t necessarily aware that these individual services are part of a wider emerging movement towards sharing,” Laughton concluded.
A survey by travel and expense management solution firm Concur revealed 23% of respondents feel it is acceptable to make exaggerated expense claims.
Some 70% of respondents conduct expense reports in their own personal time, and 68% of managers spend less than fifteen minutes reviewing expense claims made by team members.
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The survey also revealed a 50/50 split between employees who feel too embarrassed to claim for smaller expenses, such as bus fares, and those who see nothing wrong with claiming for the smallest expense.
Chris Baker, managing director of UK enterprise at Concur, said: “Workplace expenses can often be a complicated minefield for employees and managers. This is exacerbated by archaic, time consuming processes and unclear boundaries of what does and does not constitute an acceptable claim.
“At a time when staff are busier than ever before and the traditional lines of the 9-5 workday are blurring, it’s vital that businesses ensure there is a modern, digital solution in place for expense management. This not only ensures making a claim is quick and easy, but ensures the necessary checks on potentially fraudulent claims can be spotted and rectified quickly.”
The Future of Gender Equality, a report by Yell Business, has indicated that despite the technology industry’s notorious reputation for disruption and innovation, it is yet to disrupt unbalanced gender representation.
Only 17% of jobs in the tech sector are held by women, with only 3% of venture capitalists and 7% of partners at top venture firms being female.
The report did, however, highlight tech companies that have successfully tackled gender inequality within the workplace, such as team communication app Slack.
Some 43% of Slack’s employees are female, with women also holding 43% of the firm’s leadership roles.
VC-backed FinTech funding
KPMG and CB Insights have released their latest quarterly FinTech venture capital report, showing that although UK deals were steady, the values of those deals fell during the second quarter of 2016.
Despite a number of deals being delayed following the Brexit result in Q2 of 2016, the Pulse of FinTech report showed the number of VC-backed UK FinTech deals held steady quarter-over-quarter.
However, the report also revealed the total value of these deals dropped from $117m to $103m.
The UK has fared better than the global average though. Global investment in VC-backed FinTech startups fell 49%.
Warren Mead, global co-leader of FinTech at KPMG International, commented: “Regardless of Brexit, the UK will not give up its role as Europe’s fintech leader easily, the FCA’s sandbox and the recent announcement of a FinTech bridge with Singapore clearly demonstrate the UK’s commitment to fostering its strong FinTech ecosystem.”
That’s all for this week! To check out previous instalments of our tech stats series click here!