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 ›
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The UK government has allocated £100m of funding for the biotech industry across 22 projects and six “mission hubs”. The Department for Science, Innovation and Technology (DSIT) announced on Friday that the funding will back “Engineering Biology Mission Hubs” and “Mission Award” projects focused on bioengineering projects. The goal is to “address global challenges” and ... Read more ›
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Startup accelerator Exchange has hired a new head to oversee its operations in Manchester and Leeds. Rich Jones, previously enterprise acceleration manager at NatWest, joins Exchange as it opens applications for its latest cohorts. Exchange is located at Department Bonded Warehouse in Manchester and Department Leeds Dock. Founded in 2019, it provides support to startup ... Read more ›
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Newcastle-based manufacturing workforce management startup SQCDP has raised £200,000 in a round led by London’s QVentures. Founded in 2022, SQCDP supplies companies in the manufacturing industry with software to manage workflows and team members. With the app, users can report shift information and track progress measured against targets. Company co-founder and CEO Stephen Mitchell said ... Read more ›
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A spinout from Northumbria University has secured £1.4m to commercialise its lung testing technology for asthma diagnosis. PulmoBioMed has developed a non-invasive mouthpiece to collect fluid samples from the lungs to detect conditions like asthma. The handheld device, called PBM-HALE, separates aerosol droplets from the mouth from those originating from the deep lung. Samples are ... Read more ›
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Shares are up at Cambridge-based semiconductor designer Arm after the company posted strong revenue growth in its latest earnings report. Arm stock surged by about 30% after beating analyst expectations with a quarterly revenue of $824m, a 14% year-on-year increase. Arm, which listed publicly on the Nasdaq Stock Exchange last year, raised its full-year revenue ... Read more ›
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More than 5,000 workers have come to the UK via the Global Talent Visa since it started 10 years ago, as Tech Nation confirms it will continue to assess applications for the Home Office “until further notice”. A report from Tech Nation reflecting on the decade anniversary of the scheme noted that among the 5,249 ... Read more ›
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London-based VC firm Episode 1 Ventures has launched its third investment fund, which has £76m to deploy across early-stage B2B startups. Episode 1 Ventures first launched in 2013 and has since backed prominent UK startups such as Robin AI, Huboo and Carwow. Through its latest fund, the firm will make investments of between £250,000 and ... Read more ›
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Colossyan, an AI startup that generates workplace training videos similar to London-based unicorn Synthesia, has raised $22m (£17.4m). Founded in 2020, Colossyan turns text prompts into training videos hosted by AI avatars. The service can generate multiple videos simultaneously, cutting down the cost of producing traditional videos. The company has been used to produce videos ... Read more ›
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US payments business Entrust is in “early” stage acquisition talks to acquire London-based identity verification scaleup Onfido. The deal would see Entrust add Onfido’s identity verification tools, which scan biometrics and documents, into its portfolio. The companies did not disclose the terms of the deal, which is subject to regulatory approval. Onfido founder and former ... Read more ›
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Generative AI startup AudioStack, which creates voice productions based on user prompts, has raised £2.5m as it looks to take on rival British AI company ElevenLabs. Based in London, AudioStack’s primary product is for the digital marketing space. Clients – which include McDonald’s, Canva and Mountain Dew – input text prompts and AudioStack generates ads ... Read more ›
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Two research hubs in Bristol and Southampton have received £11m each in government funding for research into semiconductor technologies. The two “Innovation and Knowledge Centres” will provide support to help bring advances in chip technology to market. Support will come in the form of training for spinouts, workshops and connecting industry players. The Cornerstone centre ... Read more ›
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The UK arm of electric vehicle maker Arrival has entered administration just three years after being valued at more than £9bn. The company has appointed consultancy firm EY as administrator to oversee the sale of the business and its assets. The collapse puts 172 UK jobs at risk and cast uncertainty over the future production ... Read more ›
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Trade association techUK is inviting over 100 companies from within its membership to join a newly created scaleup group that will feed into the government’s scaleup “policy sprint”. The companies will act as a “focal point” for the trade association’s engagement with the Department of Science, Innovation and Technology (DSIT). The techUK scaleups are based ... Read more ›
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In this week’s episode of the UKTN Podcast, Multiverse CEO Euan Blair discusses the role that apprenticeships can play in the future of work, the impact of AI on skills, and the challenges of breaking into the US market. Blair founded Multiverse in 2016. The edtech company has trained over 10,000 apprentices in partnership with ... Read more ›
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Sable Bio, a London-based B2B biotech startup, has raised £1.5m in a pre-seed funding round for its drug safety testing technology. Founded in 2023, Sable Bio uses AI to analyse broad sets of biomedical data to test potential medicines for toxicity. The data is then given to drug developers to inform safety decisions. Now backed ... Read more ›
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The government has earmarked more than £100m to establish responsible artificial intelligence research hubs and make regulators AI-ready, but enshrining protections through legislation will have to wait. The Department for Science, Innovation and Technology (DSIT) has unveiled a host of policies in response to the AI white paper consultation, published on Tuesday. According to DSIT, ... Read more ›
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The government has announced £45m will be invested into the UK quantum computing sector across a new catalyst fund and a funding competition. Last year, the chancellor unveiled a National Quantum Strategy, backed by £2.5bn over the next decade. As part of the strategy, the Department for Science, Innovation and Technology (DSIT) has announced a ... Read more ›
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The AI Safety Institute (AISI), a state-backed body tasked with developing the UK’s understanding of the risks of artificial intelligence, has added a Google DeepMind employee and an Oxford professor to its research team ranks. Geoffrey Irving has been announced as the research director for the institute, which was founded last November off the back ... Read more ›
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A nationwide tech week is set to launch in April to celebrate regional innovation and entrepreneurship across the UK. The first UK Tech Week will commence with a launch event on 22 April with events taking place across the UK from 23 April to 25 April, UKTN can exclusively reveal. It will see separate events ... Read more ›
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Equity, the British union for performing artists, is ready for industrial action reminiscent of the 2023 Hollywood strikes if key agreements are not reached regarding AI and intellectual property. Speaking to UKTN, Equity trade union official Liam Budd said the group is “industrial [action] ready” as it explores modernising film and TV agreements to “establish ... Read more ›
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29.11.2024 11:52
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