The UK Tech Growth Sector has Rocketed in the Last Decade

The UK tech industry has expanded quite a lot over the last 10 years. London is continuing to close the gap between the UK and US tech sector and this is truly making a huge difference to the world as we know it. The number of British unicorns is also growing. Between 2010 and 2020, the number of British unicorns was valued at more than one billion. They also grew from 8 to 81. The number of companies who approached the status of unicorn also rocketed, tenfold.

Driving Rapid Growth

Of course, driving the rapid growth was actually a rapid increase in things like venture capital investment. This rose from one billion to 11 billion last year. The figures were compiled by the UK’s Digital Economy deal room. They have highlighted the strength of the British industry and they have also said that certain industries are thriving. This is especially the case with those who operate within digital health, food delivery and even fintech. If you look at the casino industry you will see that it is thriving also. Sites including slots NetBet platform are rapidly evolving and growing year on year, due to the sheer demand gaming for technology and everything it has to offer.

Extraordinary Growth

The growth of the UK tech sector is now being held up around the world. It is being showcased as a model that newer tech hubs are trying to emulate. Russ Shaw, who is the founder of Tech London has stated that the increase in unicorns and even investment over the last decade or so just goes to show how the combination of tech talent, investors and even government support is growing. The UK has become a capital for fintech and it has also helped to pave the way for billion-dollar companies too. Some hope that the next ten years or so are going to really help to foster the inclusive tech ecosystem. It is also going to give everyone access to digital skills while also helping any emerging verticals.

Enabling Access to Everyone

Movements like this enable everyone to get access to digital skills and it also helps them with emerging verticals such as AI and even cybersecurity. You also have things such as eCommerce. Fintech really is one of the most successful tech sectors around and it has over 32 unicorns already. The sector is continually investing and it has made over £3.2 billion worth of investments in the last year alone. This is really helping to make sure that everyone benefits, and it also helps to spur on the UK tech sector more than ever before.

Of course, it’s surprising to see that things have come so far and only time will tell what the future holds. That being said, the UK is booming, and this is especially when you look at the tech industry. As more and more unicorns come out of the UK, it will help to cement it as being one of the tech hubs in the world.