Tech City UK opens applications for second Future Fifty intake to support new wave of growth-stage tech companies
LONDON, 30 October. Tech City UK today announced it has opened applications for the next group of growth-stage technology companies to join its flagship Future Fifty programme.
Launched in October 2013, Tech City UK’s Future Fifty programme provides support to some of Europe’s leading growth-stage technology businesses, such as JustEat, Unruly, Swiftkey and Hailo.
The current Future Fifty companies have created significant job growth, employing over 15,000 people. Together they have generated an estimated £2.1bn in net revenue – representing an average growth of over 60% in the last 12 months. In the last 10 months, four of the companies have completed IPOs on the London stock markets with a total value of £4bn. Thirteen of the companies have attracted a combined £260m in investment.
Expanding the programme’s support to more companies, the new Future Fifty intake will be announced in December and will coincide with the ‘graduation’ of a number of companies.
Tech City UK CEO Gerard Grech commented: “Growth stage companies are a key driver of job and revenue growth for Britain’s digital sector. Future Fifty is an integral part of our wider goal to fast track the growth of digital businesses across the UK. We want to enable these growth stage companies to reach their potential by smoothing their path to success as quickly as possible. We look forward to welcoming new companies on to the Future Fifty programme to continue the UK’s digital success story.”
Members of the Future Fifty programme benefit from bespoke support designed to drive continued growth. During the last ten months, the Future Fifty team has facilitated more than 240 individual meetings, covering practical assistance around recruitment, funding options and business support. The team has connected Future Fifty companies to private sector stakeholders, government influencers and partners, as well as running a range of events.
Chris Morton, CEO and co-founder of online fashion platform Lyst commented on how the programme has helped his business: “The Future Fifty programme has been a valuable resource from helping with practical matters – specifically with visas and helping us secure our new Shoreditch office – through to connecting us with insights on marketing, international growth and intellectual property. Having such assistance to hand allows us to focus on continuing to grow our business globally.”
Prospective companies can apply for a place on the programme by completing an application form online at www.futurefifty.com. The deadline for applications is November 27th.
Companies graduating from the original programme in December include those that have matured to reach key revenue and funding milestones including stock market listings.
To celebrate their recent success, Tech City UK is also today releasing a report that provides an overview of the current Future Fifty companies.
Please find a link to the full report here: www.techcityuk.com/reports