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Digital Scotland 2018 Keynote
21st June 2018
Gerard Grech
Chief Executive
Tech Nation
@gerardgrech
@technation
Who is Tech Nation?
www.technation.io
We empower ambitious tech entrepreneurs to grow faster
through growth programmes, digital entrepreneurship
skills, a visa scheme for digital expertise, and by
championing the UK’s tech sector through data, stories
and media campaigns
So far, we have worked with over 350 companies, who have
collectively raise $7Bn in 50 months, at all growth stages
Innovation globally is evolving
Startups & entrepreneurial talent is becoming the heart of innovation
Startup needs evolve as they grow
Key Drivers of a Tech Ecosystem
● Many other smaller
factors are also
important, but these
provide the framework
Each year, we publish the most comprehensive research
on UK Tech, using the latest data from several partners &
3400+ survey responses. All the data is open at data.world.
Plus we published a new report with Dealroom last week.
Find out more at: TechNation.io
Digital tech turnover
increased from £170
billion in 2016 to £184
billion in 2017
The UK’s digital tech sector grew 2.6 times faster than
the rest of the economy in 2017
Digital tech jobs
increased from 1.64
million in 2016 to 1.87
million in 2017.
Every 50 minutes a
digital tech business is
created in the UK
In 2017, UK venture capital investment exceeded Germany,
France and Sweden combined (and even the Rest of
Europe)
While London is the financial epicenter, businesses are
scaling across the United Kingdom
Venture capital investment in $B (2013-2018 April)
Edinburgh
Skyscanner $175M ($1.7B+ exit to
Booking.com)
Fanduel $415M
Durham
Atom Bank
$400M
Amounts raised
per company
Bristol
Icera $200M
Graphcore
$110M
Rudheath /
Manchester
The Hut Group
$300M Cambridge
Darktrace $180M
Kymab $125M
PatientsLikeMe $110M
Cambridge Medical
Robotics $50M
FeatureSpace $40M
Ellen
Brewdog
$160M
Oxton
Biovex
$140M
Oxford
Oxford Nanopore
$450M
Gigaclear $175M
Immunocore $360M
Reaction Engines
$145M
Adaptimmune $105M
Performance of the top 12
global tech startup
ecosystems
Source: Startup Genome, 2017
Globally, as the race for tech talent continues, London ranks
3rd in latest tech startup ecosystem rankings
UK accounts for 13 of Europe’s 34 tech unicorns, or 38%…
UK:
13
unicorns
6
2
3
1
2
2
Israel:
8 unicorns (1)
1
1
1
1
13
unicorns
6
2
8
3
2
1
2
… with a combined value of about $23 billion, which is
about 37% of total European value of $62 billion
Source: Dealroom.co 12
Total value of European unicorns per country
Since 2010, the United Kingdom has delivered as many
unicorns as Israel, Germany and Sweden combined
The United Kingdom is Europe’s second biggest source of
capital, after the United States and just before Asia
Venture capital invested in Europe by investor HQ location (2017)
Source: Dealroom.co
UK
22%
Asia
13%
USA
26%
RoW
5%
EU
34%
Many UK tech unicorns are driven through algorithmic
control, attracting specialist high paying jobs
Unicorn Benevolent
AI
Telegram
Employment >500 >1000 10-24 100-249 250-499 100-249 -
Unicorn
Employment 100-249 500-999 100-249 500-999 250-499 250-499 500-999
Jobs in digital tech are on the rise
From 2014 to 2017
digital tech sector
employment rose
13.2%. Its workers are
more productive, on
average, by £10,000 per
worker. Jobs requiring
digital tech skills
command higher
salaries, at £42,578
compared to £32,477
for those that do not. Average annual salary of jobs Source: Adzuna, 2018
THE MORE DIGITALLY SKILLED A UK JOB IS, THE HIGHER ITS AVERAGE ANNUAL SALARY
Top 400 UK meetups* highlight emerging trends
AI and Blockchain
are quickly taking
centre stage
Top 400 tech meetup
groups by *membership
in the UK 2018
Source: Tech Nation, 2018;
Meetup.com, 2018
Open Source
& AI
Software Dev
& Blockchain
Programming languages associated with web development
are prevalent
The top three are JavaScript, Python and PHP
Top programming languages used on
Github, by number of users
Source: Tech Nation, 2018; Github, 2018
UK tech communities value quality of life and sense of
place
Challenges of local tech
ecosystems
Source: Tech Nation and
Streetbees, 2018
1. Appealing area
2. A helpful tech
community
3. Proximity to a
university
Diversity remains a key challenge for digital tech
Only 19% of the digital tech
workforce is female. Despite
the stereotype that digital
tech jobs are for millennials,
72% of workers are aged over
35.
Gender diversity of people
working in digital tech jobs, 2017
Source: Tech Nation, 2018;
ONS, Annual Population Survey,
Wave 3 2017
WOMEN IN TECH ARE OUTNUMBERED 4:1
The tech sector in
Scotland is worth
£3.9bn to the Scottish
economy
Scottish tech sector growing quickly, on the back of
world leading talent
Edinburgh, Dundee and
Glasgow all see sharp
increase in business
births
Digital tech turnover
per employee hitting
£80,000
Glasgow is a Top 10 meetup hub, with 12K members
Glasgow is one of the UK’s top locations for informal tech meetups, with over
12,000 members. This collaboration is important for fostering innovation.
£104k
Digital tech turnover
per employee
Compared to £99k
UK average
Challenges for tech
in Glasgow
1. Access to funding
2. Retaining talent
3. Access to
workspace
£1.05Bn
Digital Turnover
33,653
Digital Tech jobs
10,063
Jobs in digital Tech
Thank you. Explore more at:
technation.io/report2018
@technation
@gerardgrech

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Tech Nation digital scotland_2018_key_note

  • 1. Digital Scotland 2018 Keynote 21st June 2018 Gerard Grech Chief Executive Tech Nation @gerardgrech @technation
  • 2. Who is Tech Nation? www.technation.io We empower ambitious tech entrepreneurs to grow faster through growth programmes, digital entrepreneurship skills, a visa scheme for digital expertise, and by championing the UK’s tech sector through data, stories and media campaigns So far, we have worked with over 350 companies, who have collectively raise $7Bn in 50 months, at all growth stages
  • 3. Innovation globally is evolving Startups & entrepreneurial talent is becoming the heart of innovation
  • 4. Startup needs evolve as they grow
  • 5. Key Drivers of a Tech Ecosystem ● Many other smaller factors are also important, but these provide the framework
  • 6. Each year, we publish the most comprehensive research on UK Tech, using the latest data from several partners & 3400+ survey responses. All the data is open at data.world. Plus we published a new report with Dealroom last week. Find out more at: TechNation.io
  • 7. Digital tech turnover increased from £170 billion in 2016 to £184 billion in 2017 The UK’s digital tech sector grew 2.6 times faster than the rest of the economy in 2017 Digital tech jobs increased from 1.64 million in 2016 to 1.87 million in 2017. Every 50 minutes a digital tech business is created in the UK
  • 8. In 2017, UK venture capital investment exceeded Germany, France and Sweden combined (and even the Rest of Europe)
  • 9. While London is the financial epicenter, businesses are scaling across the United Kingdom Venture capital investment in $B (2013-2018 April) Edinburgh Skyscanner $175M ($1.7B+ exit to Booking.com) Fanduel $415M Durham Atom Bank $400M Amounts raised per company Bristol Icera $200M Graphcore $110M Rudheath / Manchester The Hut Group $300M Cambridge Darktrace $180M Kymab $125M PatientsLikeMe $110M Cambridge Medical Robotics $50M FeatureSpace $40M Ellen Brewdog $160M Oxton Biovex $140M Oxford Oxford Nanopore $450M Gigaclear $175M Immunocore $360M Reaction Engines $145M Adaptimmune $105M
  • 10. Performance of the top 12 global tech startup ecosystems Source: Startup Genome, 2017 Globally, as the race for tech talent continues, London ranks 3rd in latest tech startup ecosystem rankings
  • 11. UK accounts for 13 of Europe’s 34 tech unicorns, or 38%… UK: 13 unicorns 6 2 3 1 2 2 Israel: 8 unicorns (1) 1 1 1 1
  • 12. 13 unicorns 6 2 8 3 2 1 2 … with a combined value of about $23 billion, which is about 37% of total European value of $62 billion Source: Dealroom.co 12 Total value of European unicorns per country
  • 13. Since 2010, the United Kingdom has delivered as many unicorns as Israel, Germany and Sweden combined
  • 14. The United Kingdom is Europe’s second biggest source of capital, after the United States and just before Asia Venture capital invested in Europe by investor HQ location (2017) Source: Dealroom.co UK 22% Asia 13% USA 26% RoW 5% EU 34%
  • 15. Many UK tech unicorns are driven through algorithmic control, attracting specialist high paying jobs Unicorn Benevolent AI Telegram Employment >500 >1000 10-24 100-249 250-499 100-249 - Unicorn Employment 100-249 500-999 100-249 500-999 250-499 250-499 500-999
  • 16. Jobs in digital tech are on the rise From 2014 to 2017 digital tech sector employment rose 13.2%. Its workers are more productive, on average, by £10,000 per worker. Jobs requiring digital tech skills command higher salaries, at £42,578 compared to £32,477 for those that do not. Average annual salary of jobs Source: Adzuna, 2018 THE MORE DIGITALLY SKILLED A UK JOB IS, THE HIGHER ITS AVERAGE ANNUAL SALARY
  • 17. Top 400 UK meetups* highlight emerging trends AI and Blockchain are quickly taking centre stage Top 400 tech meetup groups by *membership in the UK 2018 Source: Tech Nation, 2018; Meetup.com, 2018 Open Source & AI Software Dev & Blockchain
  • 18. Programming languages associated with web development are prevalent The top three are JavaScript, Python and PHP Top programming languages used on Github, by number of users Source: Tech Nation, 2018; Github, 2018
  • 19. UK tech communities value quality of life and sense of place Challenges of local tech ecosystems Source: Tech Nation and Streetbees, 2018 1. Appealing area 2. A helpful tech community 3. Proximity to a university
  • 20. Diversity remains a key challenge for digital tech Only 19% of the digital tech workforce is female. Despite the stereotype that digital tech jobs are for millennials, 72% of workers are aged over 35. Gender diversity of people working in digital tech jobs, 2017 Source: Tech Nation, 2018; ONS, Annual Population Survey, Wave 3 2017 WOMEN IN TECH ARE OUTNUMBERED 4:1
  • 21. The tech sector in Scotland is worth £3.9bn to the Scottish economy Scottish tech sector growing quickly, on the back of world leading talent Edinburgh, Dundee and Glasgow all see sharp increase in business births Digital tech turnover per employee hitting £80,000
  • 22. Glasgow is a Top 10 meetup hub, with 12K members Glasgow is one of the UK’s top locations for informal tech meetups, with over 12,000 members. This collaboration is important for fostering innovation. £104k Digital tech turnover per employee Compared to £99k UK average Challenges for tech in Glasgow 1. Access to funding 2. Retaining talent 3. Access to workspace £1.05Bn Digital Turnover 33,653 Digital Tech jobs 10,063 Jobs in digital Tech
  • 23. Thank you. Explore more at: technation.io/report2018 @technation @gerardgrech