{"id":12443,"date":"2022-12-23T15:21:44","date_gmt":"2022-12-23T15:21:44","guid":{"rendered":"http:\/\/TheNextWeb=1393348"},"modified":"2022-12-23T15:21:44","modified_gmt":"2022-12-23T15:21:44","slug":"uk-named-europes-top-tech-sector-with-1-trillion-valuation","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=12443","title":{"rendered":"UK named Europe\u2019s top tech sector with $1 trillion valuation"},"content":{"rendered":"\n

New research values the UK tech industry at a whopping $1 trillion (\u20ac942 billion)  \u2014 making it comfortably the leading ecosystem in Europe<\/a>.<\/span><\/p>\n

This sector is now worth more than double Germany\u2019s ($467.2 billion) and three times more than France\u2019s ($307.5 billion), according to a report by data provider Dealroom<\/a>. The UK also leads the continent in overall funding, unicorns, and startup<\/a> numbers.<\/span><\/p>\n

\u201cUK tech has remained resilient in the face of global challenges and we have ended the year as one of the world\u2019s leading destinations for digital businesses,\u201d said Digital Minister Paul Scully in a statement. \u201cThis is good news and reflects our pro-innovation approach to tech regulation, continuing support for start-ups, and ambition to boost people\u2019s digital skills.\u201d<\/span><\/p>\n

Breeding unicorns<\/span><\/h2>\n
\n
\n
<\/div>\n

\n

The new TNW Newsletter<\/h2>\n

Getting to the heart of the European tech and startup scene<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Dealroom conducted the research for the Digital Economy Council, which is part of the British government\u2019s Department for Dig<\/span>ital, Culture, Media, and Sport (DCMS).<\/span><\/p>\n

The study found that fast-growing UK tech companies raised a near-record \u00a324 billion (\u20ac27.3 billion) during 2022 \u2014 more than France and Germany combined. A total of 144 unicorns and 237 <\/span>futurecorns<\/span><\/a> have now been created in the country \u2014 up from 116 unicorns and 204 futurecorns at the same time last year.<\/span><\/p>\n

DCMS credited sustained upskilling, investment, and growth for the expansion of the sector, which now employs 3 million people. The department also noted the UK\u2019s focus on standards and values. It highlighted recent proposals for AI regulation, based on core principles such as safety, transparency, and fairness. DCMS claims it\u2019s taken a less centralized approach than that of the EU.<\/span><\/p>\n

Fintech dominance<\/span><\/h2>\n

The UK becomes the third country to hit <\/span>the  <\/span>$1 trillion milestone, after China and the US. A large chunk of this figure comes from British fintech<\/a>, which dominates Dealroom\u2019s list of the most valuable startups.<\/span><\/p>\n

The Amsterdam-based organization named Worldplay, a payments software firm, as the UK\u2019s most valuable tech company. The top five also included Revolut, FNZ, Rapyd, and Blockchain.com. <\/span><\/p>\n

Rounding out the rankings were The Access Group, Checkout.com, Global Switch, JustEat, and ION Group. The combined valuation of the top 10 is $177.9B \u2014 almost 20% of the entire ecosystem. <\/span><\/p>\n

Green energy also attracted growing investment \u2014 a shift that\u2019s set to accelerate in the coming years.<\/span><\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New research values the UK tech industry at a whopping $1 trillion (\u20ac942 billion)  \u2014 making it comfortably the leading ecosystem in Europe. This sector is now worth more than double Germany\u2019s…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/12443"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12443"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/12443\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}