The Tech Nation Report 2024
The state of the nation report on UK tech! Discover the investment data and trends shaping the future of UK tech startups and founders in the age of AI.
“The UK tech sector reached a combined market valuation of $1.1 trillion in Q1 2024, a landmark achievement for UK tech and another milestone in our remarkable growth story.”
Carolyn Dawson OBE CEO, Founders Forum Group
KEY FINDINGS
$1.1 trillion
The combined market valuation of the UK tech sector in Q1 2024
The UK tech sector is the number one tech ecosystem in Europe
171 UK Unicorns 20 AI Unicorns
UK AI startups backed by VCs
Raised by UK Tech startups in 2023
$5b Energy
$3.9b Fintech
$3.7b Transport
16% of total UK VC investment went to AI startups in Q1 2024
69% of UK tech professionals say AI is having a positive impact on them personally today
UK tech companies are using AI to improve their existing product offering
have launched entirely new products
Customer Support
Data Analytics
Marketing Services
Engineering & Development
are the business areas expected to be most disrupted by AI
Raised by UK-headquartered funds in Q1 2024, the biggest quarterly fundraise to date
UK tech companies exited in 2023 with a combined valuation of
$121.9b
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