Tech Nation report shows NI raised £100m VC funding in 2019
The Tech Nation Report 2020 - explores UK tech for a changing world.
The Tech Nation Report has been the UK’s State of the Nation report on tech since 2015. Each year the report highlights the growth of the sector and provides information about opportunities and challenges.
This year's report focuses on UK tech for a changing world.
The UK is third in the world for the level of AI investment. From 2015 to 2019 UK AI companies raised £3.2bn of global AI investment. The US raised £32bn and China raised £12bn.
The UK is the only country of the top five AI nations to have demonstrated consistent positive year-on-year growth for the last five years.
The UK raised £7.8bn in cybersecurity investment from 2015 to 2019. The US and China continue to dominate with a total investment of £17.5bn and £16.4bn during the same time frame.
The UK comes fourth in the world for blockchain investment at £8.9bn of investment for 2015 to 2019. It is third globally for blockchain deals, with 249 deals compared to the US at 1,212 and China at 268.
£1.18bn was raised by UK healthtech companies in 2019 - accounting for 61% of the total European market (£1.93bn).
Spotlight on Northern Ireland
The report’s spotlight on Northern Ireland highlights:
- £100m – Total digital tech VC investment in 2019
- £18m – Total emerging tech investment (2015-2019)
- £40,000 – Median digital tech salary
- £3m – AI investment (2015-2019)
Northern Ireland is home to First Derivatives, the regions only digital tech unicorn – a term given to private start-up companies valued at over $1bn.
The report also highlights three Northern Irish companies in its Ones to Watch section:
Find out more about why the UK is one of the top global tech and entrepreneurship hubs.