Tech City UK has is adding 26 new companies to its Future Fifty programme, which aims to support growing businesses in the UK.
The aim of the programme launched by Tech City UK is to showcase and support the top 50 British leading growth stage companies, with four of these coming from cybersecurity this year.
In total 15% of those joining the programme are fintech companies, demonstrating the growth in this year. Having an increased number of cybersecurity businesses joining the programme expands the awareness of threats hackers pose, helping better services and security.
Many cybersecurity businesses joined the programme this year.
Among the cybersecurity businesses joining the programme is Darktrace. Poppy Gustafsson, co-founder of Darktrace, said: “We’ve admired the Future Fifty alumni over the recent years and are incredibly excited to be joining the 2018 cohort. The UK has an amazing tech community and talent and we are delighted to be working with many of them over the next two years.”
Additionally 31% of businesses joining the programme are based outside of London, doubling the figure from the same category last year. Additionally, 15% of the businesses joining have female founders or co-founders.
Those companies participating in the programme will have access to an expert peer network, classes and practical workshops. These are all designed to help take transform their businesses to the next stage, bettering the brand’s reputation in the ecosystem.
The companies that have joined this year have already raised $730m collectively in financial investors. Of this year’s intake 69% are business to business companies, 15% customer facing and 15% target both the consumer and business markets. For the first time, there has been an increase in SaaS companies joining the programme. This year they make up 27% of the businesses, including UKCloud.
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“The Future Fifty will get access to some of the world’s leading innovators and experts in the form of our advisors and partners, and join a powerful network of the UK’s fastest-growing late-stage digital businesses, working to grow further, faster, together.” Gerard Grech, CEO, Tech City UK, said. “In the tech sector, small and growing businesses are providing high-quality jobs, employment to more than a million people and great career paths. Future Fifty helps 50 of the UK’s most promising businesses to accelerate their growth and shows how Tech City UK, soon to be Tech Nation, can connect ambitious people and companies across the country.”
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The programme has been a success to date, achieveing five IPOs on the London Stock Exchange as well as raising over $5.5bn in funding from VC and capital markets with $1.7bn in 2017 alone.
With such positive outcomes already, each of the new businesses aims to thrive further in the programme and provide better services for customers. Future Fifty hope to boost the UK’s ecosystem with the selection variation, from cybersecurity, enterprise and SaaS companies.
Stan Laurent, Partner at Highland Europe and Future Fifty judge said:
“What an exciting cohort of innovative businesses joining the Future Fifty programme this year! They are a real testament to the entrepreneurial spirit and ecosystem in the UK. Congratulations to all the nominees: you’re right to aim big.”
