The unicorn companies at the heart of the UK tech scene

Jun 14, 2018 · standard.co.uk

11 06 unicorn lego

The UK is officially the tech unicorn capital of Europe, according to research by Dealroom and Tech Nation.

A tech unicorn is a private company valued at more than $1 billion (£745 million). The name comes from the fact that unicorns are rare and do not come around very often.

That’s why it’s so exciting that the UK is home to 37 per cent of Europe’s total unicorn companies. These 13 companies have a combined total of $23 billion.

Why is the UK so full of unicorns at the moment?

For one, there is a lot of great talent in the UK. There are now 2.1 million people working in the digital tech economy building the ground-breaking companies.

As well, UK start-ups are attracting more venture capital funding than ever. Seven out of Europe’s top 10 VC funds call the UK home, as they want to get a slice of the country’s growing start-ups.

Wendy Tan White, Board Trustee Alan Turing Institute, and board member at Tech Nation, said: "As an entrepreneur and an investor I see that momentum in the UK technology sector is building relentlessly, helped by a world-class research and academic environment.

"Ambitious entrepreneurs no longer have to leave this island and head to the US to build the company of their dreams."

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