Future Fifty tech firms creating jobs at six times the national average
Startups 100 companies Transferwise and Adzuna part of thriving tech scene helping to drive UK economic growth
Britain’s top technology businesses are driving economic growth and creating jobs at a rate well above the national average, according to research from Tech City UK’s Future Fifty initiative.
The figures revealed that the rate of new jobs created by members of the Future Fifty programme is six times the national average.
Companies such as Transferwise, Adzuna and WorldRemit have increased their workforce by 30% compared to the national average of 5.4% and, taking into account the 12 Future Fifty alumni companies, employ a total of more than 17,000 worldwide.
The rapid growth in the sector is also evident in the volume of funding raised by the companies since that start of the programme. Future Fifty members raised a combined total of £675m across 22 funding rounds, with £443m of that figure raised in the last 12 months.
Software developers accounted for almost 60% of the positions filled by Future Fifty companies in the last year, followed by customer service (11%) and sales (9%).
Young Gun Andrew Hunter, co-founder of Adzuna, commented: “This data reflects our own research, confirming the explosive growth of the UK’s digital businesses.
“Fuelled by record investment, we’re witnessing significant job creation in a maturing sector that is developing into one of the UK’s main employers.”
Future Fifty programme director, Philipp Stoeckl, echoed Hunter’s view: “Growth-stage companies are vital to the UK’s tech ecosystem. As a leading source of innovation and jobs, it is important that we continue to attract and support the world’s most promising companies to grow and scale their businesses in the UK.”