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50% of Britain’s scaleups expect to raise finance this year 25 May 2021
This is despite the £15bn funding gap identified by the Scaleup Institute between what scaleups need for investment and what’s available
Half of the UK’s 30,000 plus scaleups expect to raise finance this year, either through debt or equity.
But 40 per cent of scaleups perceive that there is not enough capital available to meet their growth needs, according to a Scaleup Institute survey.
Last summer the Scaleup Institute identified a £15bn funding gap between what Britain’s fast-growth businesses need and what is actually available. Other countries have much greater pools of institutional finance going into the entrepreneurial economy.
The number of UK based technology unicorns - startups valued at over $1billion - surged by around tenfold over the last decade, new figures have shown.
There were just eight firms that held unicorn status in 2010, including Ocado and gambling giant Betfair, but this number had grown to 81 last year, according to data firm Dealroom.co and the Government s Digital Economy Council.
By comparison, France, Germany, Sweden and Israel, which have a combined population of about 170 million, had 85 unicorns between them.
Bursting out: A unicorn is a privately-held startup company worth more than $1billion
There was also a more than twelvefold rise in tech futurecorns, fast-growing startups worth at least $250million that have the potential to become unicorns such as energy provider Bulb and children s entertainment group Moonbug.
The UK becomes the European capital of tech unicorns thisismoney.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisismoney.co.uk Daily Mail and Mail on Sunday newspapers.