The UK tech sector is now worth £1 trillion, according to the latest report from HSBC Innovation Banking UK and Dealroom.
The analysis marks a 20% jump since 2023 and a nine-times increase in the last decade.
Half of this enterprise value lies in pre-exit companies, the report found, which it said signals potential for significant untapped value realisation in the form of acquisitions or public listings in 2025 and beyond.
Startups with a HQ in the UK now employ over 1.8m people, double the level of 2020.
The UK remains Europe’s leading ecosystem and is the third largest in the world, behind the US and China. The UK tech sector is worth more than the French and German ecosystems combined.
UK startups raised $16.2bn in 2024, compared to $8.2 bn for Germany and $7.8bn for France. The largest amount of funding was secured at the breakout stage, with series B and C rounds accounting for over $6.5bn.
At the late stage, the UK minted nine new unicorns in 2024, bringing the total to 181. This figure means the UK is now home to almost a third (31%) of European startups…
