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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London’s transport board has vowed to take legal action against e-bike rental operators whose cycles get in the way of pedestrians and vehicles as it steps up efforts to combat obstructed pathways. Under updated guidance on dockless e-bike and e-scooter rental published today, Transport for London (TfL) has warned it will impound vehicles that get ... Read more ›
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Monzo has brought on a former executive from Brazilian fintech Nubank as its new group CFO following the departure of James Davies. Tom Oldham, who most recently worked as the chief investment officer at the carbon credit fund manager Mombak, will oversee Monzo’s financial strategy as the company plans to expand overseas. “I’ve been a ... Read more ›
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A Lancaster-based manufacturer of tech products for the maritime industry has proposed delisting from the Aquis exchange amid concerns that it does more harm than good. OTAQ, which was listed on the London-based challenger stock exchange in 2018, warned that the share price volatility, limited flexibility and limited access to investors were harming the business. ... Read more ›
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This week’s podcast guest is Suranga Chandratillake, general partner at Balderton Capital, who discusses why narratives about the UK underperforming in funding compared with the giants in the US might not be fair, why more unicorns shouldn’t necessarily be considered the main goal for British businesses and why Labour’s budget isn’t as damning for entrepreneurs ... Read more ›
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Cryptoassets are “here to stay”, the Economic Secretary to the Treasury Tulip Siddiq has said in a speech outlining the government’s approach to regulating the industry. Speaking at the Tokenisation Summit hosted by City and Financial Global, Siddiq assured the crowd that while regulatory developments in the UK for the crypto sector have “seemed quiet”, ... Read more ›
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On Saturday night, over 1,000 Revolut customers were gathering in a basement auditorium in central London for a special event. The Canary Wharf-based company was marking a significant milestone: in just a decade since it was founded, it had reached a mind-blowing 50 million customers. Eager not to pass up the chance for a blow-out ... Read more ›
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Monzo co-founder and former CEO Tom Blomfield has blasted competition regulators as “religious zealots” amid proposals to force Google to sell its Chrome browser. Last week, the US Department of Justice proposed a major breakup in Google’s business structure that would see the tech giant forced to sell the world’s most popular web browser to ... Read more ›
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This week’s UK tech funding deals include travel analytics platform Lighthouse, e-waste recycling group DEScycle, X-ray innovator Silveray and more. UKTN tracked £343.2m worth of UK tech investment this week (18 November to 22 November), a 162% week-on-week increase across eight funding rounds. Here’s your weekly roundup of UK tech startup funding deals. Lighthouse – ... Read more ›
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The value of venture capital deals and valuations in the UK in the third quarter of the year is pacing above 2023’s full-year figures, though the number of rounds appears to have dropped, according to a new report. The European VC Valuations report from PitchBook found that the venture capital market has shown a promising ... Read more ›
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Revolut’s new network of vending machines could soon make their way to the UK after a successful European rollout. The machines, which offer free debit cards to prospective customers, have already been installed across a host of European airports including in Milan, Rome, Porto, Brussels and Helsinki. Revolut, which gained a provisional UK banking licence ... Read more ›
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The cryptoasset market has surged these past few weeks, fuelled no doubt by the electoral victory of the newly pro-crypto Donald Trump and the elevation of longtime blockchain advocate Elon Musk to presidential confidant. Musk’s preferred coin Doge, for which his unofficial cabinet role as head of the Department of Government Efficiency was named, jumped ... Read more ›
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In May 2024 UKTN released a regional tech report in partnership with KPMG putting a spotlight on the innovation, strengths and challenges faced by the Scottish tech industry. To explore the topic further, UKTN and KPMG brought together a group of experts in all things Scottish tech for a panel discussion on how the local ... Read more ›
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Chris Ballance is the co-founder and CEO of Oxford Ionics, a startup developing a “trapped-ion” approach to quantum computer technology. In this week’s Founder in Five Q&A, Ballance discusses why founders should focus on the challenges they don’t understand as much as those that they do, motivating teams with a vision they can believe in and ... Read more ›
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A clean tech startup is converting sawdust and woodchips into natural alternatives to essential chemicals in an effort to reduce the reliance on fossil fuel-derived products. Scotland-based Sonichem is working towards opening its first commercial plant in 2027, aiming to process up to 15,000 tonnes of forestry material a year as the UK government looks ... Read more ›
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HSBC Innovation Banking has poached Citi star Emily Turner as its new CEO as the lender at the centre of Britain’s tech ecosystem marks a new chapter in its growth. Turner departs her role at Citi as Head of Business Development, ending a 13-year career at the top US bank. Over the past decade, Emily ... Read more ›
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A ‘myopic’ focus on concerns over equity splits in university spin-outs has been ‘put to bed’ one year on from the publication of a government-commissioned review, one of its authors has said. Doctor Andrew Williamson, Managing Partner of Cambridge Innovation Capital and co-author of the independent review of university spin-out companies, said concerns over the ... Read more ›
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New safer electric buses have begun their London rollout today on the 358 route powered by tram-like pantograph technology. The technology means drivers can charge the buses in as little as six minutes at either end of the 15-mile route, removing the need to return to garages to recharge. This comes as part of Mayor ... Read more ›
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The owner of the Daily Mail has acquired a major stake in an artificial intelligence start-up as publishers look to generative AI in search of new streams of revenue. DMG Media, which also owns the Metro, the I newspaper and the New Scientist magazine, has invested in ProRata.ai, a company that aims to pay publishers ... Read more ›
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One of the biggest technology suppliers to the British rail network has warned operators are struggling with long-term investment decisions amid delays to network reforms. Chris Barnes, CEO of Leeds-based Tracsis, said operators were ‘nervous to spend money’ on upgrades to critical infrastructure amid uncertainty over how Britain’s rail system will be governed amid plans ... Read more ›
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One of the biggest rivals to e-bike rental company Lime is under investigation over claims it has misled consumers by saying its services can be accessed for free. London-based Forest, formerly known as Human Forest, is understood to be facing a probe from the Advertising Standards Authority (ASA) after it received complaints that the e-bike ... Read more ›
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The government has launched a review into the impact of social media on the wellbeing of young people as media regulator Ofcom prepares to enforce the Online Safety Act. As the global panic around kids using social media continues – with claims of links with depression, self-harm, eating disorders and access to inappropriate content – ... Read more ›
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A climate Tech start-up behind a new touch-screen light switch has raised £2.6m in funding in its seed round. London-based Tewke said the round out-performed its initial target of £1m. The London-based firm said the funding will allow the to develop their intelligent light switch, Tap, which is designed to help you automatically optimise the ... Read more ›
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The UK’s startup ecosystem wears the crown in Europe – and the path to this success has been paved by several vital factors: world-leading research institutions, a highly-developed financial sector, and hungry entrepreneurial talent. But other nations are jostling for position – they all are looking for a chink in the UK’s armour to exploit. ... Read more ›
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Most popular sources
Business Insider
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30% 4 |
Wired
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9% 6 |
The Verge
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8% 0 |
Tech Wire Asia
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6% 5 |
Gizmodo
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6% 0 |
| View sources » | |
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27.11.2024 03:43
Last update: 03:35 EDT.
News rating updated: 10:31.
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