From UK Tech News
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Most people don't know what VC is. That's a problem for diversity
Venture capital is one of the globe’s most powerful industries. Whether it’s an app we tap on our phone or a product we pick up from the supermarket shelf, there’s a strong chance VC funding played a part in getting it to market. For those of us who work in the technology and startup space, […]
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Royal Academy of Engineering launches Scotland startup growth scheme
The Royal Academy of Engineering has launched an initiative supporting the growth of tech businesses in Scotland. The Enterprise Hub Scotland will work with local entrepreneurs to commercialise deep tech developments, spin companies out from universities and attract new investments. The hub is based on similar initiatives from the Royal Academy of Engineering in Wales […]
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Octopus Energy valuation hits $9bn after investors up stakes
Octopus Energy’s valuation has jumped to $9bn (£7.16bn) after existing shareholders, including a fund chaired by former US Vice President Al Gore, increased their stake in the business. The deal saw Generation Investment Management, chaired by the US politician and prominent climate activist, and Canada Pension Plan Investment Board up their stakes in the British […]
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Why startups can thrive rather than survive to 2025
A tech bull market lasting more than a decade was the backdrop to the startup funding frenzy in the years following the pandemic. Investors, enticed by rapidly increasing valuations, jumped at the chance to be a part of the action at the early stage. However, the flurry of excitement in European private markets came crashing […]
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Autonomous vehicle startup Wayve raises $1bn in SoftBank-led round
London-based autonomous driving software startup Wayve has raised $1.05bn (£840m) from SoftBank, Nvidia and Microsoft in the largest-ever venture investment for a European AI firm. The SoftBank-led round will support the development of Wayve’s embodied AI technology. The company describes embodied AI as advanced software integrated with vehicles and robots to determine how they interact […]
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A decade of UK tech evolution through KPMG's innovator competition
This year celebrates 11 years of KPMG Private Enterprise’s UK Tech Innovator competition. Nicole Lowe, UK head of KPMG’s Emerging Giants practice, looks back at how the tech landscape has changed, and what happened next to those businesses that won their regional pitching heats after entering the competition. The UK tech ecosystem is bursting with […]
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Podcast: How to ensure the UK lives up to its startup exit potential – Onfido's Husayn Kassai
Husayn Kassai, founder of Onfido and Quench.ai, suggests what the UK can do to attract more IPOs and build more scaleups, reflects on providing a 320x return on investment for the University of Oxford, and explains why people should be wary of the “excessive romanticisation” of unicorn success stories. Kassai co-founded Onfido, a digital […]
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AI’s energy use will fall over time, says DeepMind sustainability lead
The intense climate impact from the rise of generative AI models will decline as systems become more energy efficient and tech firms move from building to updating, according to Google DeepMind’s sustainability lead. Speaking to UKTN, Drew Purves acknowledged that the massive demand for powerful new AI models, including Google’s Gemini, has led to skyrocketing […]
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UK fintechs shouldn't overlook the African diaspora market opportunity
In today’s fast-paced fintech landscape, geographical expansion is often viewed as the ultimate benchmark of success. However, this perspective can be misleading. While growth is undeniably crucial, it becomes inconsequential if a business fails to establish itself as a leader within its sector. Whether this leadership is achieved in the original market or a new […]
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Deep tech has dodged the worst of the funding downturn – here's why
Capital for startups has become scarcer. If the rest of 2024 plays out in the same way as the first quarter, total investment volumes might be as low as £12.8bn for the UK’s private companies. That’s a fall of 55% from the annual peak of £28.4bn in 2021. It’s hard to put a positive spin […]