Tech Nation announces Rising Stars regional winners
Tech Nation has announced the 33 Regional Winners in the fifth iteration of its early stage scaleup competition Rising Stars.
The companies represent "the brightest of UK tech" with the most potential to scale in the year to come, selected by judges from across the UK tech ecosystem. Regional Winners will benefit from profile raising, masterclasses and networking opportunities to put their business in front of leading investors, influencers and corporates.
Devon-based machine learning company digiLab, Cornish 3D visualisation specialists Amutri and Bristo-based healthtech firm Siloton represent the South West in the list of winners. The news comes as digiLab and Amutri are also named as Tech South West Ones to Watch for 2023.
While 80% of startups fail within their first 2-5 years, over 95% of startups on Tech Nation’s growth programmes have gone on to scale, including companies from Rising Stars. This year, ambitious growth plans are evident among the finalists which Tech Nation will support – 82% plan to expand internationally in the next 12 months and 97% are currently raising investment. Companies have secured funding from a variety of sources demonstrating the range of options available to UK entrepreneurs: 44% have had VC funding, 44% have had angel funding, 38% have had government funding and 21% have had funding from family and friends.
Key trends amongst the 2023 cohort show that 1 in 3 companies are using AI technology in their product and service development. When looking at sectors,healthtech, cleantech and marketing tech came second as top areas of focus for this year’s Regional Winners. Additionally, 45% of companies include at least one female founder and almost 20% include a founder from an ethnic minority.
Matt Exley, Rising Stars Lead at Tech Nation, said: “Over the past five years Tech Nation Rising Stars has searched for, supported and celebrated the UK’s best early-stage tech companies. Our expert judges from across the tech economy have selected the 33 from nearly 400 applicants and assessed them on their potential to scale. These companies now receive support on preparing for corporate ventures, improving sales and marketing, engaging with investors and improving their pitch.
“Being named a Tech Nation Rising Star doesn’t just get you noticed in the UK; the global tech economy recognises and values this endorsement. These 33 businesses represent the most promising emerging tech teams, products and services of 2023 and are certainly the ones to watch. “
The Regional Winners are progressing to the Semi Finals in February where the competition will culminate with a showcase of the top 10 National Winners in March.
See all the winners at technation.io/news/2023-rising-stars-regional-winners
