Despite significant advancements in technology, developing drugs remains difficult and costly. It now often takes up to a decade and costs around $2.7bn to develop a new drug average. What impact could AI have on the UK’s drug discovery sector and what is investor appetite like? A report published by Dealroom last month found the ... Read more ›
11
Government agency Innovate UK has awarded a £1m grant to a consortium of universities and fintechs to accelerate the adoption of AI in the finance sector. The funding aims to support the development of safe AI solutions to address challenges in the investment management space. Innovate UK launched a competition for businesses in March to ... Read more ›
0
Semiconductor designer Arm reported quarterly revenue growth of 47% in its latest financial report, surpassing previous guidance. The Cambridge-based chip designer posted revenue of $928m (£743.8m) for the fourth quarter of FYE24, 3% greater than the upper end of its previous forecast for the period. Arm, owned by Japanese conglomerate SoftBank, listed publicly on the ... Read more ›
30
The UK government has said quantum computing is one of its top tech priorities. Last year, it earmarked £2.5bn for a decade-long National Quantum Strategy. According to new Dealroom data, quantum computing was among the top-funded UK tech segments in the first quarter of 2024. The sector is under the spotlight, but is government support ... Read more ›
3
Do you have a high learning quotient (LQ)? If—like me—you were educated in the UK, the chances are low. Will those odds increase for younger generations here? Not unless urgent action is taken. During the 2023 annual World Economic Forum (WEF) conference in Davos, weeks after OpenAI launched ChatGPT and introduced generative AI to the ... Read more ›
2
Tech firms will be heavily scrutinised for improper age verification and algorithms suggesting “harmful content” to children, according to a new report from Ofcom. The communications watchdog, which has been given extended powers to regulate digital content following the passing of the Online Safety Act, has published a list of 40 practical measures to protect ... Read more ›
0
The average stake taken by UK universities in spinout companies increased over the last year, despite government-backed recommendations. According to the 2024 Spotlight on Spinouts report from Beauhurst and the Royal Academy of Engineering, the average equity stake taken by universities in companies formed by students and staff grew from 19.1% to 22% over the ... Read more ›
2
Two-thirds of startups supported by the Digital Growth Grant have had founders who are women or from ethnic minority groups, according to the director of Barclays Eagle Labs. The Digital Growth Grant is a £12m scheme from the government through which a third party supports the development of new tech companies. The grant was previously ... Read more ›
1
Venture capital is one of the globe’s most powerful industries. Whether it’s an app we tap on our phone or a product we pick up from the supermarket shelf, there’s a strong chance VC funding played a part in getting it to market. For those of us who work in the technology and startup space, ... Read more ›
0
The Royal Academy of Engineering has launched an initiative supporting the growth of tech businesses in Scotland. The Enterprise Hub Scotland will work with local entrepreneurs to commercialise deep tech developments, spin companies out from universities and attract new investments. The hub is based on similar initiatives from the Royal Academy of Engineering in Wales ... Read more ›
11
Octopus Energy’s valuation has jumped to $9bn (£7.16bn) after existing shareholders, including a fund chaired by former US Vice President Al Gore, increased their stake in the business. The deal saw Generation Investment Management, chaired by the US politician and prominent climate activist, and Canada Pension Plan Investment Board up their stakes in the British ... Read more ›
57
A tech bull market lasting more than a decade was the backdrop to the startup funding frenzy in the years following the pandemic. Investors, enticed by rapidly increasing valuations, jumped at the chance to be a part of the action at the early stage. However, the flurry of excitement in European private markets came crashing ... Read more ›
0
California-based unicorn Scale AI has announced London as the location for its first international office. Scale AI, which is in talks to raise investment at a valuation of nearly $13bn, provides labelled data for training AI tools. The company works with groups including OpenAI, Cohere and the US military. Founded in 2016, Scale AI is ... Read more ›
0
London-based autonomous driving software startup Wayve has raised $1.05bn (£840m) from SoftBank, Nvidia and Microsoft in the UK’s largest-ever venture investment for a British AI firm. The SoftBank-led round will support the development of Wayve’s embodied AI technology. The company describes embodied AI as advanced software integrated with vehicles and robots to determine how they ... Read more ›
0
This year celebrates 11 years of KPMG Private Enterprise’s UK Tech Innovator competition. Nicole Lowe, UK head of KPMG’s Emerging Giants practice, looks back at how the tech landscape has changed, and what happened next to those businesses that won their regional pitching heats after entering the competition. The UK tech ecosystem is bursting with ... Read more ›
2
Husayn Kassai, founder of Onfido and Quench.ai, suggests what the UK can do to attract more IPOs and build more scaleups, reflects on providing a 320x return on investment for the University of Oxford, and explains why people should be wary of the “excessive romanticisation” of unicorn success stories.  Kassai co-founded Onfido, a digital ... Read more ›
30
The intense climate impact from the rise of generative AI models will decline as systems become more energy efficient and tech firms move from building to updating, according to Google DeepMind’s sustainability lead. Speaking to UKTN, Drew Purves acknowledged that the massive demand for powerful new AI models, including Google’s Gemini, has led to skyrocketing ... Read more ›
0
In today’s fast-paced fintech landscape, geographical expansion is often viewed as the ultimate benchmark of success. However, this perspective can be misleading. While growth is undeniably crucial, it becomes inconsequential if a business fails to establish itself as a leader within its sector. Whether this leadership is achieved in the original market or a new ... Read more ›
0
Capital for startups has become scarcer. If the rest of 2024 plays out in the same way as the first quarter, total investment volumes might be as low as £12.8bn for the UK’s private companies. That’s a fall of 55% from the annual peak of £28.4bn in 2021. It’s hard to put a positive spin ... Read more ›
0
A UK Digital Twin Centre will open in Northern Ireland, backed by £37.6m in investments from Innovate UK and Belfast Region City Deal. The centre, led by state-backed tech accelerator Digital Catapult, will develop use cases to demonstrate the potential for digital twin technology in areas such as maritime, aerospace and defence. Digital twins are ... Read more ›
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Most popular sources
Tech Wire Asia
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28% 21 |
Business Insider
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22% 3 |
CNET
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8% 4 |
Gizmodo
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5% 0 |
Eurogamer.net
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5% 1 |
| View sources » | |
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28.11.2024 11:34
Last update: 11:25 EDT.
News rating updated: 18:22.
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