A new technology firm is set up at a rate of every hour in the United Kingdom: officially Europe’s biggest creator of tech startups.
New figures reveal almost 400,000 tech-based operations have been established over the past five years in the United Kingdom, with success stories including Marvel, Deliveroo and Monzo.
Data from 2013 to 2017 has been collated on the European startup scene and shows the United Kingdom leading the way in tech-based operations. Financial firms have been especially successful in recent years, with financial technology outfits like Smarkets, Receipt Bank and GoCardless Ltd seeing some of the fastest growth over the past five years.
Paymentsense chief marketing officer Guy Moreve said the data demonstrated that the United Kingdom fostered a good environment for tech startups.
“The UK ranks among the top five countries with the highest number of registered new businesses and has seen the biggest growth overall within the last five years. It shows that the country offers great foundations for entrepreneurs, especially within the tech sector,” he said.
“Further afield, it’s fascinating to see how Europe has changed in recent times. A number of countries are now placing more emphasis on technology which has helped create a ‘golden era’ for tech startups.”
About two million startups were registered in the the United Kingdom in those years, with 20 percent falling within the tech sector. Across all startup sectors, the United Kingdom registered a growth rate of 5 percent – the largest in all of Europe.
To see the number of businesses registered over the past five years, the top industries fueling each country, the growth rate and more, visit the interactive map. According to the creators, all statistics used in the project were sourced and provided by Statista.