A slice of trends and patterns of UK Tech, based on the Tech Nation Report 2021, including jobs, investment, sub-sector development, and growth opportunities.
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Westminster E-forum Keynote May 2021
1. What’s next for UK tech:
Trends and patterns for 2021 and beyond
Gerard Grech
Chief Executive, Tech Nation
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4. technation.io
Tech Entrepreneurship is a strong driver of job creation, even more so
after recessions or crises. The number of tech business births has
increased by +57% in the last ten years.
4
Digital Tech Business Births by Volume
Overall Business Births by annual rate of growth
5. technation.io
In 2020,
a tech
business was
born in the UK
every 30 mins
5
In 2018,
a tech
business was
born in the UK
every 60 mins
Source: ONS and Companies House, 2020
6. technation.io
The speed & contribution of digital economy jobs has increased
significantly in recent years, bringing the total to over 2.9M, which is
approx 9% of the UK’s working population
6
7. technation.io
The contribution of advertised tech
jobs in relation to all jobs is significant
across all regions and nations of the
UK, ranging from 15% to 23%
Northern Ireland has the highest rate
of advertised digital tech roles in 2020
- 22.7% of all job vacancies.
When looking at specific tech job
salaries to cost of living ratios;
Sheffield came top for data scientist,
Edinburgh for infrastructure engineer
and Newcastle for an IT systems
engineer
8. technation.io
UK Tech sector was resilient through 2020, with jobs in the sector
being the second highest in demand, after healthcare jobs.
10. technation.io 10
UK tech investment was third in the world, hitting a record high of
$15bn in 2020.
(2021 looks set to be another record, with $8.3Bn in Q1 already)
11. technation.io
Fintech remains the jewel in UK Tech’s crown. 70% of the top 20
European funding rounds between 2018 and 2020 were in UK companies.
Source: Tech.Eu 2020
15. technation.io
The UK is more attractive to international investors than ever; 63% of
investment into UK tech came from overseas in 2020, up from 50% in
2016
16. technation.io
Investment raised via tech and consumer internet IPOs doubled
between 2018 and 2020 on the London Stock Exchange. We will see
several IPOs in the offing in 2021
18. technation.io
The UK was the 5th greatest digital tech services exporter in the world
in 2019 and has seen exports rise by 25% since 2015..
19. technation.io
It is an ideal time to boost the UK’s digital trade with the Asia Pacific
region. Southeast Asia’s digital economy hit US$100 billion in 2020
and is expected to grow to US$300 billion by 2025.
19
21. Doubling down on our strengths (Fintech) and boosting support for
emergent subsectors (Deeptech and Greentech)
Scaleups disproportionately drive job creation and key to the UK’s recovery
Encouraging local financial institutions to invest in the next wave of UK
tech scale-ups and be part of the local success
Addressing regional inequalities and building a more inclusive,
equitable tech sector
Opportunities
Expanding global reach
22. 22
Thank you for listening.
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