Shaping the UK’s tech future
The UK’s tech ecosystem is being shaped by its history, but its future doesn’t have to be. The Deloitte Fast 50 is an incredibly valuable programme, bringing much-needed positive noise to the UK tech ecosystem. It has now run for 28 years and during that time (especially the last 10), the UK has started to produce companies of real global importance, writes Dan Hyde, Founder and Executive Chair, Erevena.
The teams at Revolut, DeepMind and Wayve are amongst the best at what they do anywhere in the world. And global companies like Stripe, Anthropic, MongoDB, Salesforce and Okta all have European and British exec team members. In short, the UK is playing its part in the global tech economy, but of course there is much more to do.
Patterns in the Fast 50
This year’s list contains some amazing companies, but there is also a pattern in the data. Compared with similar lists from other countries, the UK has a much higher density of FinTech versus AI, B2B, Consumer, or Semiconductors. That is completely understandable given the UK’s GDP makeup: we have high concentrations of investors focused on the sector, an exit ecosystem on our doorstep, and huge amounts of operational experience that can offer founders meaningful advice as they scale.
At the start of the AI epoch
We are only at the top of the first innings of the AI revolution. The AI epoch is different to anything that has preceded it. Some of the characteristics of how AI will impact the world play directly into the UK’s strengths, and we have a chance to play an important role in shaping the global industry.
Regulation, safety, and research talent are all vital. Thanks to DeepMind, Faculty, QuantumBlack, and our university system, the UK already has many of the human resources it needs to be a leader.
What the UK needs now
What it needs now is a regulatory and business environment that incentivises people to build and exit companies here. We do not just want to be somewhere with cheap land for datacentres. Look at how France has accelerated its tech ecosystem in recent years, this is proof of what coordinated public and private support can achieve.
This is a once-in-history opportunity and we need brave government and business leaders to build a strategy that can be executed over the next five to ten years, not just a political term. If we get this right, the UK will not only participate in the AI age but help define it.
At Erevena, we’ve spent the past 22 years helping ambitious companies and their investors build leadership teams that scale. From early-stage to exit, we partner with those shaping the future to find executives who thrive in growth, innovation, and change. You can learn more at erevena.com.
