The remaining 25 fast-growing technology companies have been selected to join a government-backed programme designed to help British businesses scale rapidly and encourage them to list on UK stock markets.
Tech City UK today announced the second 25 companies that it wants to work with through its Future Fifty programme. The second cohort consists of technology businesses in everything from ecommerce to medicine and media, and includes brands such as PhotoBox, Matches Fashion and ChemistDirect.
Tech City UK, which is funded in part by the Department for Business, Innovation and Skills (BIS), describes Future Fifty as a fast-track programme of public and private sector support designed to catalyse growth, create jobs and deliver economic impact to the UK.
In order to be considered for the programme, companies need to be based in the UK with an annual revenue of at least £10 million, increasing by 30 percent year-on-year over the last two years. The year-long programme was announced by chancellor George Osborne and Tech City CEO Joanna Shields in April.
Following another round of judging by a 17-strong independent advisory panel of iindustry experts, investors, advisors and successful entrepreneuers, they now join the initial 25 companies on the programme that were announced in October.
Tech City UK claims the programme will give the companies the support they need to address business needs along with a continuous programme of press and promotional backing, modular 'opt-in' business support and educational content and events.
Shields said: “UK government policies and programmes have already resulted in a record number of new technology companies being started. The companies on the Future Fifty programme prove that we have moved beyond a few digital start-ups to nurturing world-class high growth businesses across many sectors – all of which have one thing in common: they are digital at their core and they are powering ahead to generate long term sustainable growth and jobs in the UK."
The heads of Unruly, notonthehighstreet.com and MyOptique welcomed the fact that they had been selected for the Future Fifty programme.
Sarah Wood, COO and co-founder of Unruly, said: “The range of available support is breathtaking - from communications and brand building through corporate finance and visa support. It's a great initiative for rapidly-growing companies within the Tech City community and the perfect platform to help us continue our expansion into key territories.”
When the first 25 companies were revealed, London Stock Exchange chief executive Xavier Rolet said he believed the Future Fifty programme will help the UK to provide the right mix of finance for every stage in a company’s development to make doing business and accessing capital markets in Britain as simple as possible.
The Future Fifty programme comes after reforms were introduced by government and the London Stock Exchange to make UK equity markets more attractive so that British companies didn't turn to New York's NASDAQ or other global markets when it came to listing.
The announcement of the second 25 Future Fifty companies coincides with the publication of a new report that highlights the rapid growth of Tech City from a local initiative created three years ago to establishing itself as the digital capital of Europe.
The Future Fifty: second cohort
The second group of high-growth companies to successfully join the Future Fifty programme are:
- ACHICA, a leading online members-only store for luxury lifestyle products at discounted prices.
- ao.com,the UK's leading online retailer of major domestic appliances.
- Chemist Direct,the UK's leading online healthcare business providing a wide range of health and beauty products and services.
- Datasift, the leading global social data platform enabling companies to aggregate, filter and extract valuable insights from multiple social media and other online sources which on Tuesday announced a $42m investment round led by Insight Venture Partners.
- eCommera, a leading provider of big data and commerce platforms enabling retailers to manage and optimise their multi-channel commerce activities.
- eToro,the global social investment network enabling users to see, follow and automatically copy the investments of other users in the network.
- Funding Circle, the world’s leading online marketplace directly connecting investors looking to lend to small businesses.
- Global Personals, aleading digital online gaming and dating company, including brands such as JustSingles.com, WhiteLabelDating.com and SmoochBingo.co.uk.
- Graze, revolutionising the healthy snacking industry by leveraging its online platform and proprietary technology.
- Masternaut, a leading provider of SaaS based vehicle tracking and workforce management solutions.
- MATCHESFASHION.COM, the unique omni-channel luxury fashion retailer servicing the global market with over 400 of the best international labels across womenswear and menswear.
- MedicAnimal, an online retailer of food, medicines and accessories for animals.
- MODE, an innovative finance company using technology to enable instant nano credits for pre-paid mobile users in emerging markets.
- moo.com, a leading provider of online platform and tools for businesses wanting to create high quality print products.
- MyOptique, a leading online retailer for prescription glasses (Glasses Direct), sunglasses (SunglassesShop) and contact lenses (LensOn), revolutionising Europe's £20bn optical industry.
- Naked Wines, a customer-funded wine business which invests in independent winemakers from around the world, in return for exclusive wines at wholesale prices - which it passes back to its customers.
- Nomad Digital, the leading global provider of wireless solutions to the transportation sector.
- Notonthehighstreet.com,an online marketplace bringing together 4,000 creative small businesses offering more than 100,000 unique, original products to customers globally.
- PhotoBox, Europe’s leading digital consumer service for personalised products and gifts through its PhotoBox, Moonpig.com, StickyGram and PaperShaker brands.
- SecretSales.com, the UK's most loved discounted designer brands online retailer.
- Shazam, the world's leading media engagement company enabling over 400 million users in over 200 countries to discover, explore, buy, and share music, TV shows and branded content.
- Small World Financial Services, Europe's largest and most trusted payments services provider offering a secure, fast and inexpensive way to send and receive money across the globe.
- SwiftKey, provider of award-winning keyboard app powering multiple smartphone and tablets through its world-class language prediction technology
- Unruly, a leading marketing technology platform which works with top global brands and their agencies, transforming branded videos into viral hits.
- WorldStores, the UK's leading online home and garden retailer.