"Twenty five of the most promising UK-focused startups, including Zoopla, Moshi Monster creators Mind Candy and the taxi-hailing app Hailo are to receive targeted support from the UK government to help grow their businesses", it was announced today.
"The 25 companies were selected as part of the first Tech City “Future Fifty” project, which aims to find 50 high-growth companies with a substantial British interest and provide them the help they need to become the next Facebook.
Tech City, set up by the UK government in 2010 to help East London tech companies into an international competitor to Silicon Valley, argues that such companies are crucial to Britain’s development.
“Six percent of our companies generate 54% of our high-value jobs”, says Joanna Shields, the organisation's chief executive, “The tech sector is 8.3% of GDP, and it’s growing at 11% a year, the highest of any G20 country.”
The companies in the first cohort of the Future Fifty will received tailored support from Tech City, as well as the UK government more broadly, to help them scale up their business as rapidly as they can.
That could include advice on how to bid for government procurement contracts, or access to the network of British consulates and embassies to help overseas expansion.
“The Future Fifty programme is action that will help these businesses to grow and achieve their potential, and help us to compete and thrive in the global race,” said prime minister David Cameron.
Tech City, set up by the UK government in 2010 to help East London tech companies into an international competitor to Silicon Valley, argues that such companies are crucial to Britain’s development.
“Six percent of our companies generate 54% of our high-value jobs”, says Joanna Shields, the organisation's chief executive, “The tech sector is 8.3% of GDP, and it’s growing at 11% a year, the highest of any G20 country.”
The companies in the first cohort of the Future Fifty will received tailored support from Tech City, as well as the UK government more broadly, to help them scale up their business as rapidly as they can.
That could include advice on how to bid for government procurement contracts, or access to the network of British consulates and embassies to help overseas expansion.
The launch of the Future Fifty comes on the back of the news that Tech City is to welcome its first mainland China, mobile gaming business Rekoo. As the area matures, its make-up of company’s will naturally change, from mostly home-grown start-ups to a broader mixture of new, old, foreign and British".
the guardian
