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The future of British technology in 2021 From Tech Nation

The following is the The future of British technology in 2021 From Tech Nation recommended by And this article belongs to the classification: Investment & Economy, research report.

Tech nation released its 2021 new report, “the future of British technology.”. In 2020, the science and technology scale ecosystem of the UK will continue to grow strongly. Since 2017, the total value of technology enterprises has more than doubled (120%) to US $585 billion.

In 2020, 10 superstar investment companies will promote the development of science and technology in the UK to a new height, with a total of 20% of the total amount of science and technology venture capital in the UK, reaching US $3.5 billion.

Despite the global pandemic, UK technology companies’ venture capital reached an innovative level in 2020, with an investment of US $15 billion, an increase of US $200 million over the record in 2019. Throughout 2020, the investment growth momentum is strong, with us $1.9 billion in December. Britain’s investment hubs are London, Oxford, Bristol, Cambridge and Edinburgh.

These figures push the UK to become the third largest technology investment target country in the world, after the US (US $144.3 billion) and China (US $44.6 billion).

As the potential of artificial intelligence, machine learning and quantum computing technologies are fully exploited and applied on a large scale, the UK will have to find ways to improve its R & D capabilities. Back in 2018, R & D expenditure (public and private) in the UK was slightly less than 30 billion pounds, while in the same year, the combined R & D expenditure of Amazon and alphabet (their respective R & D activities) reached 33 billion pounds.

The UK is more open to global investment than ever before, with 63% of UK technology investment in 2020 % From overseas, up from 50% in 2016 %。

Since 2016, investment from outside the UK has grown steadily. It will reach its peak in 2019, accounting for 69% of the total amount of venture capital, and will drop by 6% in 2020.

Last year, domestic investment accounted for 37% of the total investment. Nevertheless, the UK’s technology ecosystem remains an attractive destination for international investors.

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