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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In the latest episode of the UKTN Podcast, Sunderland Software City CEO David Dunn shares his thoughts on how the North East can grow its tech sector, gives his assessment of the government’s tech department, and explains how increasing the number of regional startups can help the UK become a “tech powerhouse”. From Newcastle to ... Read more ›
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Distinct tech clusters have emerged in the North East – including a hub of gaming studios and startups in Teesside, creative tech and media innovation around Gateshead and region-wide strengths in cybersecurity, advanced manufacturing, clean tech and fintech. UKTN’s latest tech report maps out the North East’s current tech landscape, from high-potential startups to tech ... Read more ›
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Xampla, a cleantech company from Cambridge, has raised $7m (£5.5m) in funding to advance its plant-based, biodegradable material that aims to replace plastic. The startup’s mission is to eliminate the need for plastic by replacing it with ‘Morro’, a proprietary material that the company claims can break down quickly and fully without releasing any harmful ... Read more ›
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The government has been criticised by Labour opposition over its delay in approving the acquisition of Welsh semiconductor company Newport Wafer Fab. A deal from US chipmaker Vishay to acquire the Newport-based firm for £144m was agreed by the two companies late last year. It came after the government blocked the previous agreement from Chinese-owned ... Read more ›
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Scottish health startup Carcinotech has raised £4.2m to further develop its 3D-printed micro-tumour technology. Founded in 2018, Carcinotech works with pharma companies, clinicians and surgeons to safely test new medications on models of cancer cells. The Edinburgh-based firm manufactures 3D-printed tumours based on patients’ biopsies and blood samples, which can then be tested on to ... Read more ›
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The majority of businesses consider the human element of advanced technology as critical despite fears of staff being replaced by automation, a report has found. A survey of 2,900 business leaders found that 86% were looking at how emerging technologies – such as AI – could advance employee skillsets. Additionally, 83% are planning to re-train ... Read more ›
2
Wondercraft, a London-based startup aiming to build the “Canva of audio” has raised $3m (£2.36m) in a round featuring Y Combinator and entrepreneur Steven Bartlett. Launched in 2023 by engineers from US data firm Palantir, Wondercraft is an audio editing platform for podcasts, audiobooks and other audio content creation. Wondercraft includes AI assistants for music ... Read more ›
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JS Holdings Group, a pioneer in promoting Korean culture in the UK, most notably through its acclaimed Korean restaurant franchise, Yori, has taken a giant digital leap forward with collaboration software. The company has now integrated the collaboration software Morningmate, by Madras Check – known as flow.team in its South Korean home base – ... Read more ›
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An increase to the threshold for high-net-worth angel investors will take effect at the end of the month despite industry pressure to scrap the controversial policy. Reversing the changes would require a debate in Parliament and there is not enough time to do so before 31 January, tech industry lobby group the Startup Coalition said. ... Read more ›
2
Greater Manchester Mayor Andy Burnham has said he will “wait and see” the outcome of the Post Office public inquiry before deciding whether to continue an agreement with Fujitsu. Burnham and Manchester City Council leader Bev Craig signed a partnership agreement with Fujitsu during a trade mission to Tokyo last month to support the region’s ... Read more ›
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The Insights Family, a Manchester-based market intelligence platform, has raised £5.6m in an investment round led by the Business Growth Fund (BGF). Founded in 2017, The Insights Family collects trends and insights from user data, which is filtered into its platform to inform client marketing strategies. Clients of the startup include LEGO, Mattel, Nike and ... Read more ›
3
The Scottish government is backing a scheme to expand the uptake of internet of things (IoT) devices by local government. A series of technology blueprints, funded by the Scottish government, have been developed by Scotland’s sensing and imaging innovation centre – called CENSIS – and the Digital Office for Scottish Local Government. The groups aim ... Read more ›
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Yanki Onen is the CEO and founder of Wamo, a digital business account provider and growth partner for SMEs. Onen launched Wamo in 2021 after experiencing first-hand frustration at setting up a business account. The startup’s target market is “underbanked” SMEs. In September last year, Wamo raised $1.5m (£1.2m) in a seed extension round, bringing ... Read more ›
1
The Bank of England has said that neither it nor the government will be able to access user data related to the use of the upcoming digital pound. The UK’s central bank, along with the Treasury, confirmed on Thursday that if the digital pound – a state-backed cryptoasset – were to be implemented, legislation would ... Read more ›
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London-based investment firm Fuel Ventures has launched a £50m venture capital trust (VCT) to be listed on the London Stock Exchange. The VCT has been launched with support from Titan Alternatives Ltd and will target 30 investments in high-growth tech innovation over the next three years. The VC firm said funds from the VCT will ... Read more ›
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Equity crowdfunding platform is laying off 15% of its European workforce, equivalent to around 15 people. UK staff are among those being made redundant by the London-headquartered investment platform, although Seedrs did not disclose numbers. The company will remain active in all European markets, a Seedrs spokesperson told UKTN. Seedrs was acquired by US private ... Read more ›
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Kao Data, an Essex-based company that builds data centres for AI and advanced computing, has completed a £206m debt raise from Deutsche Bank. The funds from the Frankfurt-headquartered bank will support Kao’s plans to scale its AI data centres across the UK and Europe. The company said the new financing will fast-track its new contracted ... Read more ›
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In the face of burgeoning environmental concerns and a global push towards clean energy, the UK government has set a path towards mass electrification. All new cars are to be zero emission by 2035, and the shift is well underway, with EVs already accounting for 20% of overall car sales as of August 2023. Despite ... Read more ›
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A London-based startup that records live musical performances with studio quality has raised $760,000 (£596,000). Setmixer was founded in 2021 by Pascal de Mul, a long-time employee of the music technology industry, previously working as the global head of hardware partnerships at Spotify and the chief partnership officer at Deezer. The startup says its platform ... Read more ›
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Chancellor Jeremy Hunt has been urged to reconsider upcoming changes to angel investor thresholds over concerns that “female and underrepresented founders will be hit hardest”. In an open letter signed by the Startup Coalition, the Entrepreneurs Network and the UK Business Angels Association, among others, the chancellor was urged to reverse the upcoming change to ... Read more ›
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29.11.2024 14:45
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