Optimism for the tech sector, TechForce19 and a deep dive into remote worker behaviour

Maddyness provides you with a quick digest of three news items to keep you up to date with the startup scene, emerging trends and other noteworthy stories.

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UK startups managed to raise £663M since lockdown started

New research from innovation centre and workspace Plexal together with Beauhurst has analysed UK investment activity between 23rd March and 27th April. In total, British startups raised £663M in investment in the first month after the country went into lockdown, driven by high levels of activity in the tech sector in response to the crisis.

Plexal and Beauhurst have analysed nearly 30,000 startups and fast-growth businesses (companies that have attracted equity or venture debt funding) to understand investment activity since lockdown. The wide-ranging survey showed that the total value of investments increased by 34% compared to the same period in 2019, as a result of investors providing additional capital to ensure the survival of companies during tough times.

What’s important to highlight is that of the £663M raised, £50.2M went to startups that had never raised funds before. The technology sector has been leading investment activity since the lockdown began, with the highest levels of investment going to startups operating in fintech, AI, cybersecurity and blockchain.

Telecare specialist Alcuris selected in TechForce19

Telecare specialist Alcuris has been successful in their TechForce19 competition submission and will now progress to the next stage hoping to achieve a nationwide rollout. With 1,600 applications, only 18 companies were successful to progress to the next stage. Led by NHS and managed by gov tech pioneer PUBLIC, the Techforce19 contest was launched amid lockdown to create a pool of technologies to help support the elderly and vulnerable who are self-isolating and called on technology innovators to apply.

Alcuris, a specialist in assistive technology in the telecare segment, were successful in the remote care category. Known for its advanced Memo wireless hub and insights system, the company’s technology was judged and approved by the competition’s panel on the basis of solution feasibility, company credibility, impact, and digital maturity.

Asana research shows how UK workers have adapted to lockdown

Since the beginning of the pandemic, remote work has become ubiquitous, leading companies and people worldwide to review their working methods quickly to adapt to the imposed changes and rules set by governments. But some self-isolating workers aren’t always in the most ideal conditions to work efficiently at home, and new forms of routine brought by forced flexible work are needed.

Leading work management platform for teams Asana examined this phenomenon and conducted a global survey called Anatomy of Work: Remote Teams, delivering insights into how British, American, Japanese, Australian and German employees have adapted to new remote work protocols.

The UK findings were based on 1,016 respondents working full-time and remotely. According to the data, one month into the lockdown, the UK working day has completely changed with many workers embracing homeschooling, new working hours, fewer meetings and more breaks.

A few highlights:

41% of UK employees are working the same hours since remote working
57% say they’re taking more breaks
36% are having fewer meetings
30% say they are starting their working day earlier
27% are working later in the evening
24% are working while juggling other priorities such as childcare
85% of UK employees with school-age children are balancing homeschooling with work (the highest across all surveyed countries)
- 16% of these parents are starting work later and 32% earlier
- 41% are blocking out time over lunch to be with their family
- 25% finishing work earlier and then working into the evening
- 79% say this situation is significantly impacting their work
- 77% admit to finding it hard to switch off in the evenings

“Organizations around the world are adapting to new ways of working together while being physically apart. Many teams are navigating the unique challenges related to the rapid move to remote work protocols, in some cases for the first time. Teams need confidence and clarity in their work, and platforms that foster collaboration are essential ways teams are staying aligned, organized and connected so they can continue working towards their most important goals. It goes without saying that this shared experience will serve as a catalyst to bring teams closer together.” – Dustin Moskovitz, CEO of Asana