UK Tech centre stage globally as £1.2 billion investment announced

London Tech Week 2019

Tech companies across the globe have backed the UK with investment of more than £1.2 billion.

Speaking at London Tech Week this week, the Prime Minister is making a number of ambitious commitments that will ensure the UK remains the largest tech hub in Europe.

These include:

  • £153 million government funding, with an additional £205 million pledged by industry, to unlock the potential of quantum technologies, including accelerated drug development from quantum computing
  • 2,500 places available for the first time for AI and data conversion courses starting next year, to equip tech-driven businesses. This includes 1,000 government-funded scholarships to open up opportunities for people from all backgrounds

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The Prime Minister said: “Already we are one of the best places in the world to start and grow a tech business. British Tech is growing over one and a half times faster than the rest of the economy, adding more than one hundred and thirty billion pounds to our economy every year.

“But if we are going to maintain our position as a global leader, our challenge is how we develop British Tech and make it even better.”

Thirteen businesses have choosen to invest in the UK as the top destination for tech innovation and talent. These include plans for a £1 billion investment by VMware over the next five years; a £12 million investment by Mastek in a new digital skills programme for graduates in Leeds; and a £150 million investment in a new data centre by Markley Group which will create 200 jobs.

New data by Dealroom and Tech Nation released today shows to date the UK has produced 72 tech companies worth $1 billion, substantially higher than any other country in Europe, and outlines that tech start-ups have raised a record $4.8 billion in venture capital investment over the first five months of 2019.

Companies announcing plans for investment today include:

  • VMware, which plans to invest £1 billion over the next five years
  • Markley Group, which is making its first investment into the UK by building a £150 million new data centre, creating over 200 new highly skilled jobs, including data scientists and engineers
  • hiSky which is investing £8.3 million in a new R&D Centre based in Harwell, Oxfordshire, creating 40 jobs over the next three years
  • IMR Technologies, which will announce plans to headquarter its business in the UK, creating a new £3 million investment
  • GO1, an Australian education business, which will open their first European headquarters in Reading
  • McConnel Ltd (Alamo Group), an agri-tech company who announce the expansion of their production facility in Ludlow, to manufacture remote controlled, robotic and autonomous vehicles
  • Job Today, which has announced a £9 million investment into the UK over the next three years, creating up to 30 new jobs
  • Saggezza, which has announced a further £1 million investment into the UK, creating 80 new jobs, tripling their UK headcount