In 2023, the UK’s technology ecosystem reached an impressive milestone. It became the third country, after the US and China, to cross a total valuation of $1T.
In terms of number of billion dollar companies, the UK outstrips the rest of Europe combined. But it’s not just the growing community of homegrown tech unicorns that’s impressive. Over the past few decades, the UK has transformed into a science and technology superpower with one of the most impressive startup ecosystems in the world, and has been able to attract the best entrepreneurial talent from around the world. Nearly 2 in every 5 of the UK’s fastest growing tech companies have at least one non-UK founder, while a quarter of global talent visa recipients are founders.
The Unicorn Kingdom: Pathfinder Awards (UKPA) is the latest initiative to identify the most exciting technology scaleups from overseas and bring them to the UK for support, investment, and introductions to a valuable network of innovators.
International tech companies—here’s what you need to know:
What are the UKPAs?
The UKPAs offer scaleups the enviable opportunity to tap into a rich tech landscape with a vast funding ecosystem and community of top quality talent.
There are three key criteria that businesses must meet in order to apply for the UKPAs. These are:
- You must be an established technology scaleup operating in one of the key investment categories—AI, Cyber Security, Connected and Automated Mobility (CAM) Technology, and Digital Trade Solutions
- Your product or service has an international application
- You are not already based in the UK, but you are interested in setting up in the UK within the next two years.
For winners, DBT is running a tailor-made programme based in the UK, designed to provide access to numerous resources and connections that can help establish a business in the UK. This includes everything from hands-on support from the DBT Global Entrepreneur Programme (essentially a UK government-run Accelerator), introductions to industry experts in the public and private sectors, and invitations to exclusive VIP events.
“There is no better place for ambitious tech companies to grow than in the UK’s vibrant and growing $1T tech ecosystem,” explains Chris Barton, His Majesty’s Trade Commissioner for Europe.
“These awards offer a fully-tailored direct route to the financiers, incubators, tech-savvy customers, and infrastructure needed to help them make that next great leap from ambitious scale-up to just maybe becoming another of the UK’s 140+ unicorns.”