Definition of a UK Unicorn: A UK business start-up that is valued at one billion dollars or more.
Since 2016, the UK as a whole has created more unicorns than France, Germany, Sweden and the Netherlands. Some UK unicorns are opening additional offices and facilities both here and around the World. The North West of England has welcomed these expansions more than anywhere else in the UK.
‘Radius Payment Solutions’ opened a Cheshire facility in 2018 and ‘Oak North’ expanded its presence in Manchester to help provide better service levels to SMEs based in the North of England.
Cyber security firm ‘Darktrace’ also added premises in Manchester to its 30-strong global presence, joining
Cambridge and London on the UK map.
What makes Manchester such a strong proposition for expansion?
A private scheme known as ‘North West Fund12’ was designed to increase business in the region. The scheme has created more than 5,500 jobs in the North West to date supporting more than 440 businesses with over £150m of investment. More than 5,500 jobs have been created as a result of the scheme. Seven of the 14 UK Unicorns are based in Manchester and it has been estimated that one-tenth of the National Gross Value added (GVA) has come from the North West fund alone. Most of these UK unicorns have expanded and have offices all over the globe.
At 08UK we are fiercely ambitious and hope to feature on this list someday, but for now we take great pride in being located in the heart of UK business growth.
The 14 UK Unicorns 2019
Radius Payment Solutions
The Hut Group
Oxford Nanopore Technologies
ACORN OakNorth Holdings
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