Ad blitz to woo UK investors as tech funding dries up

The Government is gunning for new British investors to plough cash into UK tech firms with the launch of a marketing campaign designed to ensure “scale-ups” that are ready for growth can access the funding they need to boost long term economic growth and create jobs.

The “Science and Tech is our Superpower” campaign, featuring digital and outdoor executions, is aimed at reversing last year’s substantial drop in investment globally which has impacted domestic science and technology scale-ups.

Britain has produced 152 “unicorn”companies valued at over $1bn, which is more than France, Germany and Sweden put together. These companies, including Darktrace and Monzo have pushed forward global innovation in a range of areas – and help grow the UK economy.

But, ministers fear that without venture capital funding, the next generation of UK unicorns may be forced to look abroad for funding and even move away from the UK – or risk placing a cap on their growth, which hinders innovation and puts a lid on new jobs in the UK.

While British leadership in fintech, AI and life sciences is well recognised by investors domestically and around the world, emerging strengths in deeptech are yet to receive the same support and recognition.

Science and Technology Secretary Michelle Donelan said: “The UK has built a £1 trillion tech sector with a thriving start-up scene. With further capital, there is no limit to where British start-ups can take their ideas.

“There has never been a better time to invest in British tech companies – with the UK leading on every key European metric and leading the world on emerging technologies like safe AI.

“This campaign drives home the message to investors that we need to seize the extraordinary opportunities here on home turf – or risk promising companies travelling to international competitors for funding.”

Targeting investors in key financial hubs across the country in cities such as London, Birmingham, Edinburgh, Belfast and Cardiff, the campaign will run on outdoor sites strategically placed 200 metres within investor offices and on key commuter routes. Wrapped copies of The Times will also be delivered to venture capital offices, and digital ads will run online and across podcasts.

The marketing push will show off regional ‘clusters’ of innovation excellence from across the UK, including spin-out companies that were started from research at leading universities.

Science and technology hubs outside of London have seen huge increases in venture capital investments since 2019, with Liverpool, Sheffield and Glasgow all seeing more than 500% growth.

Far exceeding all other cities, Birmingham saw 1,183% increase in venture capital funding raised, driven by a specialist ecosystem surrounding autonomous vehicle technology.