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
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
The chancellor is set to reverse the increased wealth threshold for angel investors following widespread industry backlash. At the end of January, the Treasury implemented changes to financial promotion rules that raised the required income threshold to qualify as a high-net-worth angel investor from £100,000 to £170,000. The change was met with outcry from the ... Read more ›
0
This budget week will likely be the last before a general election that, regardless of the outcome, will herald significant change. As we all know, Britain faces huge challenges. There’s a major growth challenge, there’s a cost of living crisis, and public services are in trouble for both the public and businesses who use them. ... Read more ›
0
Wootzano, a Newcastle-based startup developing crop harvesting robots, is expanding into Malaysia via a partnership with New York-listed consultancy firm VCI Global. The partnership, valued at more than £30m, will see Wootzano’s harvest robots deployed across the landscape of Malaysia in one of the startup’s first international expansion projects. Wootzano’s robotic farming solutions use advanced ... Read more ›
1
The methods used by tech companies to train the majority of generative AI models are likely to be “illegal”, according to a senior executive who stepped down from British startup Stability. Ed Newton-Rex, who recently resigned as VP of audio at London-based AI unicorn Stability over ethical concerns, told UKTN that the “jury is still ... Read more ›
21
The chancellor is gearing up to deliver the Spring Budget on Wednesday in what is likely to be his last fiscal event before the general election. Jeremy Hunt will be on a mission to woo the electorate, with polls suggesting the Conservative Party has something a mountain to climb to retain power. The Labour Party ... Read more ›
1
Today we are announcing that we’ll soon be launching UKTN+ to provide subscriber-only journalism on the UK’s tech ecosystem. I’ll explain what that package includes and what it means for readers, but first I want to explain why we are making the move to a paywalled publication and reflect on some of the industry-specific journalism ... Read more ›
38
The government has never prioritised the levelling up agenda and developing the North, according to Manchester-based venture capital investor Jess Jackson. Speaking on the UKTN Podcast, Jackson, who is an investment manager at northern VC firm Praetura Ventures, said there had been misleading messages of levelling up from the various Conservative governments since the policy ... Read more ›
12
Andrew Orrock is the CEO and co-founder of IOTICs, a deep tech company that has created tools for cross-organisation data sharing. Its technology has been deployed across various sectors, including defence and transportation. IOTICS says its technology is often used by commercial rivals where trusted data sharing is required to solve business challenges. Orrock co-founded ... Read more ›
3
Over the past six years, the UK has seen a quiet revolution in its payments industry, and another could be on its way. Since the start of 2018, customers have been able to tell the UK’s nine largest banks and building societies to securely share their personal transaction data with trusted third parties. Known as ... Read more ›
2
Vitrue Health, a company looking to tackle chronic neck and back pain among office workers, has raised £3.2m. Launched in 2018, Vitrue Health is a digital platform for workplaces that uses computer vision and AI to offer preventative care for workers at risk of musculoskeletal conditions. The company works with the NHS as well as ... Read more ›
1
TenU, the collaborative body for university tech transfer offices, has appointed Tim Haines, managing director of investment firm Abingworth as its chair. TenU represents the interests of 10 global university transfer offices, including Cambridge, Oxford, Imperial College London and UCL. Tech transfer offices are responsible for the commercialisation of university research, resulting in spinout companies. ... Read more ›
0
Ocado posted a slight revenue bump and reduction in losses as the London-listed firm holds steady on its tech investments. The grocery delivery firm posted £2.8bn in revenue for 2023 across the group, a 10% increase from the year prior, while pre-tax losses fell from £471m to £418m. The group’s technology solutions, which have received ... Read more ›
0
Embedded finance fintech Railsr has appointed former chancellor of the exchequer, Lord Philip Hammond, as its chair less than a year after being rescued from collapse. Railsr, which implements financial tools and services into client businesses, was once valued at almost $1bn before facing the brink of collapse last year. Railsr was ultimately acquired by ... Read more ›
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London-based payments startup Volt has been granted an EMI licence, allowing it to issue e-money accounts in the UK. Founded in 2019, Volt has established itself as a payments gateway, facilitating transactions between merchants and consumer bank accounts. The company has raised more than $80m (£63.3m), most recently securing £47m in its Series B round ... Read more ›
0
London-based digital clearing bank and embedded banking unicorn ClearBank has appointed chief risk and compliance officer Emma Hagan as its new UK CEO. Founded in 2015, ClearBank provides both clearing bank services and an embedded banking API to financial institutions. The fintech became profitable towards the end of 2022 and boosted profits further in its ... Read more ›
2
Sonichem, an East Midlands company that converts forestry by-products such as sawdust into renewable biochemicals, has raised £1.2m. Founded in 2010 as Bio-Sep, Sonichem is looking to replace the industrial reliance on petrochemicals, which contribute significantly to global carbon emissions. Rebranded in 2023 to focus more on its sustainability contributions, the company is developing alternative ... Read more ›
7
Life-changing treatments are discovered in a laboratory, but they can’t reach patients without the investment community. Today is Rare Disease Day. Despite the term “rare,” approximately 300 million people worldwide live with such conditions. For many, there simply is no treatment. The UK has many great teams working together to conduct ground-breaking research. But with ... Read more ›
2
Most popular sources
Business Insider
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29% 1 |
Tech Wire Asia
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12% 5 |
CNET
|
9% 2 |
The Verge
|
7% 2 |
TechRadar
|
6% 5 |
| View sources » | |
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29.11.2024 07:50
Last update: 07:46 EDT.
News rating updated: 14:41.
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