Fuel for the Innovation Nation 2020
A new BVCA report reveals the huge impact of venture capital and angel finance on start-ups and the wider economy. Conducted by Oxford Economics, The Innovation Nation illustrates very clearly how important it is to keep the UK as a centre for entrepreneurship and investment as the country embraces its new global position.
Employees at companies backed by angel investment and venture capital are 60% more productive than the total UK private sector average, and, once supply-chain impact is factored in, these businesses contribute a total of £37.7 billion of GDP to the UK economy and account for 570,000 jobs.
Key findings include:
- The UK is home to 21,200 UK businesses supported by angel finance or venture capital
- They employ a total of 223,700 people
- Productivity per employee is 60% higher compared to the UK private sector average
- These companies generated a combined turnover of £36.5 billion in 2018
- This contributed £19.7 billion to the UK economy
As the UK explores new horizons and new opportunities, the role of angel and venture capital investment are more vital than ever. By providing investment to fast-growing, highly innovative businesses, it is nurturing talent and ideas which will ensure the UK’s place at the forefront of the global technological revolution. These businesses are shaping the future of the country and the world. Angel and venture capital investment is funding that future.
