Celebrating its 11th year, the UK Tech Innovator competition by KPMG Private Enterprise has been a beacon for highlighting groundbreaking tech businesses and their transformative solutions. Nicole Lowe, UK head of KPMG’s Emerging Giants practice, reflects on the evolution of the tech landscape and the trajectory of past competition winners.
Inaugurated in 2013, the competition coincided with the prominence of London’s Silicon Roundabout, a time when delivery apps were yet to capture consumer attention and the iPhone 5 reigned supreme. Fast forward to 2024, and technology has become ubiquitous, with discussions on AI’s opportunities and threats permeating mainstream media.
It has been a privilege to witness the journey of Tech Innovator participants shaping the UK’s tech growth narrative. Among the earliest winners was What3Words in 2016, which has since revolutionized location mapping and garnered global adoption, including partnerships with emergency services and automotive giant Mercedes. Co-founder and CEO Chris Sheldrick lauded the competition as a platform for international exposure and industry connections.
What3Words exemplifies the consumer-centric focus prevalent in the competition’s early years. As time progressed, trends in the tech ecosystem evolved, with a surge in entries from fintech, health tech, and clean tech sectors addressing pressing ESG challenges.
Recent winner iEthico, emerging from the North East regional heat, offers a unique solution to mitigate drug shortages’ impact, transitioning from pre-revenue status to commercial launch post-competition. CEO Debra Ainge credits the competition for refining their messaging and investor outreach, resulting in exponential growth and impactful support to healthcare professionals.
The competition’s emphasis on tech for good resonates throughout, with participants showcasing innovations poised to make significant sectoral impacts. Dr. Medhat Aker of Aker Health underscores the importance of aligning innovations with market needs and honing pitch delivery, sentiments echoed by Leap AI CEO Ben Stuart.
Leap AI, the 2023 winner in Scotland, has seen remarkable progress post-competition, securing substantial investment and gearing up for expansion. The journey underscores the competition’s role in fostering growth and investment opportunities for burgeoning tech ventures.
As applications for the UK Tech Innovator competition draw to a close, the stage is set to spotlight the next wave of innovative unicorns. Dr. Liz Zijing Li of Mimicrete Ltd attests to the invaluable experience gained, while Angela Marie Graham of Goldilock highlights the competition’s role in refining business strategies and market presentation.
In a landscape defined by technological breakthroughs, the UK Tech Innovator competition continues to serve as a catalyst for propelling visionary tech enterprises onto the global stage. With the deadline approaching, tech trailblazers are encouraged to seize the opportunity and embark on a journey of innovation and recognition.