While the scale of some of the UK's tech startups isn't to be sniffed at, it's worth noting that the UK is yet to create a company that's anywhere near the same size as the likes of Google, Apple, Amazon or Facebook. Janet Coyle, Director SVC2UK at London & Partners said: "This year’s Scale Up Club includes some of the UK’s fastest growing digital businesses and provides further proof that we can produce companies of genuine scale." UK still lacks a $100 billion tech company London-based technology companies attracted almost half (45%) of all deals into the UK from Silicon Valley, totalling $1.9 billion, more than Paris, Madrid and Amsterdam combined. Research from London & Partners, the Mayor of London’s inward investment agency, reveals that the UK has attracted more VC investment from Silicon Valley based investors than any other major European country over the last five years having completed 290 deals, worth a combined total of around $4.2 billion (£3 billion). These high valuations have been made possible off the back of venture capital money pouring into UK companies. Previous Scale Up Club alumni such as TransferWise and SkyScanner are now valued at over $1 billion (£660 million) and it’s hoped that the latest intake of companies will follow a similar path. The new club members were announced at an event held at the London Stock Exchange today, and they will receive mentoring from successful people in the global technology industry, including TomTom cofounder Corinne Goddijn-Vigreux and Catherine Mohr, VP of medical research at Intuitive Surgical.
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