Obelisk, a WEConnect International certified women-owned business, was featured in City A.M’s “hottest 50 UK tech startups which are now scaling up” due to their growth and contribution to boosting the job market in the sector and UK economy.
50 of the hottest startups from across the UK have now been named the country’s top “scale-ups” – the fastest growing businesses boasting average growth of 47 per cent over the past year. Obelisk is among the new cohort of businesses chosen to join the scale-up club of tech group Silicon Valley Comes to the UK (SVC2UK).
It comes as new figures show the extent of tech startups’ contribution to the economy over the last decade. Since 2006, there’s been a 17 per cent rise in the number of jobs created in the sector, compared with seven per cent across all sectors. In London alone that growth stands at 77 per cent.
The number of digital tech businesses has rocketed 44 per cent, and almost doubled in the capital, compared to 23 per cent across all types of industry. Their contribution to the economy has grown by a third, compared to 13 per cent across all industries. And the capital has rocketed ahead with GVA doubling in a decade, according to the figures from London and Partners.
Rajesh Agrawal, deputy mayor for business, said: “With our unrivalled mix of investors, talent and creativity, it is hardly surprising that tech businesses and entrepreneurs are clamouring to be part of London’s tech story. These latest figures underline that London is the best place to invest in tech and how important this sector is as a driver for the UK economy.”
The companies will be given support through the group’s events aimed to connect UK startups with Silicon Valley to promote further growth, including mentoring and networking.
SVCUK was set up by investors and entrepreneurs Sherry Coutu, Ellen Levy and Reid Hoffman, the founder of LinkedIn and is now in its tenth year.