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UK has created a third of Europe and Israel’s ‘unicorn’ businesses

A recent report shows that the UK leads the world when it comes to billion-dollar startups, known as ‘unicorns’.

Currently, the UK is home to 15 unicorns, which are based in six different cities. Since the unicorn term was coined in 2013, 35% of the firms that fall into that category across Europe and Israel started life here. These two global areas have produced 169 unicorns, 60 of which were launched by UK-based entrepreneurs.

London tops the list, with 36 unicorns being created there. However, many of the country’s regional capitals have also produced multiple $1bn businesses.

Manchester has created an environment in which five such firms have been able to thrive and grow at astonishing rates. The university cities of Cambridge, Oxford, Edinburgh and Leeds have all produced at least two unicorn firms each.

Liverpool is also well on the way to doing so too. Over the past few years, numerous tech firms have decided to base themselves there, which makes the emergence of a new unicorn start-up in the city increasingly likely. With the help of Liverpool-based accountants and various organizations, the local tech sector has grown at a phenomenal rate.

In 2017, Tech Nation officially identified Liverpool as a tech hub. The city has three thriving workspaces that are tailored to meet the needs of the tech sector, and the city’s universities are consistently producing graduates with the necessary skills to support the tech sector. Liverpool also has The Studio, which is a school for 14 to 19-year-olds that focuses on developing digital and creative skills.

Posted by Louise
November 13, 2018
Research & Statistics

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