UK digital tech growing faster than other sectors

March 18, 2020 | FinTech

Written by FinTech Alliance

UK digital tech growing faster than other sectors

New report from Tech Nation say the sector in the UK grew six times faster than other industries

In Brief:

  • Digital tech contributes £149 billion to the UK economyand currently employs 2.9 million people throughout the four countries, a 40% increase from 2017
  • The amount of tech businesses in the UK worth between $250-800 million, according to the report, is the highest on record; 95, which is a 27% increase from 2018
  • The UK came in third globally for investment into artificial intelligence (£3.2bn) and fourth for blockchain (£8.9bn.

What this means

The tech sector already sits at the heart of the UK economy - creating jobs and wealth across the country. Protecting and nurturing the sector will be crucial in helping the UK rebound from the current economic crisis. 

Read more

More in FinTech

Ask a FinTech: How can FinTechs give back to communities?
FinTech
May 29, 2020

Ask a FinTech: How can FinTechs give back to communities?

The current climate has made our sense of community stronger than ever, and the challenges thrown up...

Smava raises €57mn
FinTech
May 28, 2020

Smava raises €57mn

Berlin based FinTech Smava has raised €57mn in its latest fundraising. In Brief: S...

Virtual Mentoring: talking team culture with Delio’s Gareth Lewis
FinTech
May 27, 2020

Virtual Mentoring: talking team culture with Delio’s Gareth Lewis

At FinTech Alliance, we believe mentoring is vital to career development and builds relationships th...

FinTech
May 27, 2020

West Midlands FinTech Ecosystem Report 2020

This report focuses primarily on the activity in the geographical area covered by the West Midlands...

FinTech
May 27, 2020

Fintech Banking Spotlight on Capital Structure

Fintech Sector: Capital Structure Observations • As the global economy starts to digest the...

FinTech
May 14, 2020

Whitecap Consulting’s Regional FinTech Ecosystem Analysis

Whitecap has been analysing the UK’s regional FinTech ecosystems since 2018 and has now conduc...

Embedded Finance: Media

Embedded Finance: Media

When: Jun 04th, 2020
Where: Online
Price: FREE
THE ULTIMATE FINTECH VIRTUAL CONFERENCE

THE ULTIMATE FINTECH VIRTUAL CONFERENCE

When: Jun 10th, 2020
Where: Online, .
Price: FREE
Future of FinTech 2020

Future of FinTech 2020

When: Jun 14th - Jun 16th, 2020
Where: Pier 27 & Pier 29 Campus, San Francisco , GB
Price: £1,600