A report by The Blair Institute (TBI) has revealed that fewer than 1% of UK firms are reaching the scale-up stage, prompting calls for ‘end-to-end’ reform.
The From Start-up to Scale-Up: Turning UK Innovation into Prosperity and Power report outlines that Britain has was it takes to lead tech industries of the future, but must act fast to unlock its scale up opportunity before global rivals pull ahead.
In the US, companies attract approximately nine times more capital at later stages, while UK companies attract only one-third of their funding from domestic investors at scale up stage.
Despite boasting a strong research base and vibrant start-up scene, the UK is failing to grow tech firms at scale according to the report – costing the country jobs, tax revenue, and sovereign control over frontier technologies….
