Wales’ growing digital technology is turning over £1bn, with 3,600 companies employing 45,000 workers. The standout figure was part of the latest Tech Nation report that found the UK is leading the rest of Europe in tech investment. Tech Nation, the scaleup-network for UK entrepreneurs, which released its annual report this week, found that of the 169 unicorn tech companies created in Europe and Israel 35% were in the UK. The UK tech sector performed particularly well in investment last year. In 2018, the UK managed to attract 5% of global high-tech scaleup investment, placing it fourth in the world – ahead of Germany, France and Sweden. Investment for UK high-growth digital tech firms also grew 61% between 2017 and 2018 – driven in large part by ambitious UK tech scaleups. These scaleups delivered the majority of all tech investments in the UK in 2018 – £5bn of £6.3bn. The UK’s strongest tech sub-sector, and where it currently ranks as number one in the world, is fintech, with investment in UK high-growth fintech firms achieving £4.5bn between 2015 and 2018. On an international scale, UK cities continue to attract investment on the global stage. The Tech Nation Report also looked… Read full this story
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