The Manchester Prize has returned for its second year as the British government hopes to incentivise AI innovation in the clean tech sector with £2m of prizes. First announced by former chancellor Jeremy Hunt during the 2023 Spring Budget speech, the Manchester Prize is an annual competition for AI developers in the UK managed by ... Read more ›
15
I need to start with a confession. Today is International Women’s Day, but it is a holiday that I’ve never really celebrated. In fact, I’ve never been a fan. As a journalist, IWD was always preceded with a flurry of emails from PRs proffering their female founder or CEO for interviews to tell me their ... Read more ›
33
A biotech spinout from the University of Edinburgh developing RNA sequencing technology that could speed up drug development has raised £8.5m in funding. Wobble Genomics claims its technology can overcome challenges for sequencing RNA, a molecule present in most living organisms and viruses. Challenges include RNA’s complex molecular structure and instability. Potential applications for Wobble’s ... Read more ›
0
Losses widened last year at London-listed biotech company Oxford Nanopore Technologies despite growing revenue for its life science research tools. Oxford Nanopore posted losses of £154.5m for 2023, around 70% more than in 2022, prompting it to delay its forecast for breaking even to the end of 2027. Shares in the University of Oxford spinout, ... Read more ›
0
Funding for women-founded startups in the UK last year was greater than in any other European nation, but gender investment disparity remains a major issue, according to new data. Tech firms with at least one woman founder in the UK secured €3.9bn (£3.3bn) in venture capital deals in 2023, more than double that of France, ... Read more ›
2
Male-owned venture capital funds have received 10 times more LP capital than female-owned funds in the last six years in the UK. It’s a shocking statistic, but unfortunately not an entirely surprising one. While more women are entering the sector, the report estimated that currently only 21% of senior roles within venture capital firms are ... Read more ›
35
The tech policies announced during Wednesday’s Spring Budget were generally welcomed by the tech community but a lack of radical changes left little to wow the industry. Items on Chancellor Jeremy Hunt’s tech agenda included further funding for AI research and upskilling, an investment commitment to scale R&D and manufacturing, increased support for regional investment ... Read more ›
0
Chancellor Jeremy Hunt has delivered the 2024 Spring Budget, with key tech policies including a reversal of angel investor rules, funding for AI and a £360m R&D package. In what’s likely to be the final fiscal event before a general election, the focus was on headline policies like cutting National Insurance for workers by another ... Read more ›
10
Tech Secretary Michelle Donelan has apologised and paid damages to an academic she falsely accused of supporting Hamas. Donelan had previously called for the removal of two researchers from advisory roles at a public innovation body. The undisclosed damages will be covered by the taxpayer. In October, Donelan wrote to UK Research and Innovation (UKRI) ... Read more ›
24
The UK leads the way in Europe for the proportion of venture capital funding invested in businesses with at least one founder who is a woman, according to a new report by Female Foundry. But with just 16% allocated to women-founded businesses, the fact that the UK performs better than all other countries in Europe ... Read more ›
37
Theia Insights, an AI fintech startup providing information for financial professionals, has raised $6.5m (£5.1m). Founded in 2022 by former Amazon Alexa scientist Dr Yu Tian, Theia Insights is a platform for investors that uses AI to generate risk models, portfolio analytics and industry classification insights. Named after the Greek goddess of sight, the Cambridge-based ... Read more ›
1
A deep tech trade association has called on the Treasury to provide more support to the UK’s semiconductor sector to prevent it from falling behind other nations. Techworks, which represents the interests of 280 member companies, said the UK “offers the lowest level of incentives to the semiconductor industry among the G7”. Ahead of the ... Read more ›
2
Haiper, a London-based video generation AI startup, has emerged from stealth with $13.8m (£10.9m) in funding as it looks to take on Midjourney and Sora. Founded in 2021 by two former researchers at Google DeepMind, Haiper has built a generative AI model that, like its rivals, creates video clips based on user prompts. Complex prompt-based ... Read more ›
2
British fintech company Zilch is “pausing” its US roll-out to focus on becoming profitable in its domestic market, UKTN can reveal. Zilch, which provides buy now pay later services subsidised by digital adverts, recently contacted US users to notify them it was closing all accounts as of 29 February. The notification said the London-headquartered firm ... Read more ›
2
Monzo has confirmed a $400m (£315m) funding round led by CapitalG – Alphabet’s independent growth fund – following media speculation. The fintech, which has become one of the largest digital banks in the UK with more than nine million users, has been valued at £4bn following the injection of capital. The funding round was reported ... Read more ›
0
The UK has agreed to boost science, tech and R&D collaboration with Saudi Arabia following a visit by Science Minister Andrew Griffith to the Middle East country. Griffith and Abdullah Alswaha, the chairman of the board of directors of the R&D and Innovation Authority, signed a memorandum of understanding in Riyadh this week. The two ... Read more ›
2
In this week’s UKTN Podcast, Innovate Finance CEO Janine Hirt discusses why Britain has historically shined in fintech, why regulatory clarity in crypto, BNPL and open banking is vital, and what needs to be done to tackle rising financial scams. Hirt has been with Innovate Finance, the UK fintech industry body, for the past nine ... Read more ›
2
The risk of the UK losing tech darlings like Graphcore should come as no surprise to a country whose manufacturing sector has been shrinking for the last 18 months. It’s time for self-reckoning, and for the UK to ask where its strength lies. Graphcore may have struggled to sell its Nvidia-rival chips, but letting its ... Read more ›
2
Gridcog, a London-based climate software startup for planning and tracking energy transitions, has raised £3.3m. Founded in 2020, Gridcog develops software for organisations undertaking clean energy projects. The platform simulates the process to inform decision-making on the right solutions and track progress. The platform accounts for market conditions, the performance of different energy types such ... Read more ›
5
Manchester-based Phagenesis has raised £33.1m in funding for its medical device providing treatment for a common effect of brain injuries. Phagenesis has developed a neurostimulation system to treat swallowing dysfunction, a common effect of brain injuries. The company’s product targets and restores the neurological components of swallowing coordination that can be disrupted due to brain ... Read more ›
0
The Treasury has announced a £360m public and private sector funding package for UK R&D and manufacturing ahead of the Spring Budget. The funding will go towards expanding the R&D and manufacturing capabilities in the life science, automotive and aerospace sectors. The Monday announcement is part of a host of tech and business policies announced ... Read more ›
3
Most popular sources
Business Insider
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33% 3 |
Tech Wire Asia
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12% 4 |
CNET
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8% 2 |
Tom's Hardware
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6% 3 |
TechRadar
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6% 5 |
| View sources » | |
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29.11.2024 05:20
Last update: 05:15 EDT.
News rating updated: 12:13.
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