New startup visas will bring top global talent to London’s tech scene June 14, 2018 It was heartening to hear ahead of London Tech Week that the UK continues to be the leading European destination for technology investment, with British tech firms attracting nearly three times more venture capital investment than any other European country over the past two years. Our tech sector continues to forge ahead, employing 2.1m people [...]
Bank of England to set targets for to prevent tech failures June 14, 2018 The Bank of England (BoE) has said it will set targets for banks and other financial companies to meet to prevent and manage cyber attacks or major IT failures. The Financial Policy Committee, the branch of the BoE that deals with systemic risks in the UK financial system, is developing guidelines to deal with operational [...]
Salesforce commits to $2.5bn UK investment ahead of No 10 tech roundtable June 13, 2018 US tech company Salesforce announced last night that it was investing $2.5bn (£1.87bn) in the UK over the next five years, ahead of today’s tech roundtable at 10 Downing Street. Salesforce, a world leader in customer relationship management (CRM) software, said yesterday it would invest in the UK over the next five years to increase [...]
3 tips to reduce the cost of cybercrime June 13, 2018 Cybercrime costs UK businesses more than ever. New research from Accenture and the Ponemon Institute reveals the total cost of cybercrime in the country has risen from $7.21 million in 2016 to 8.74 million last year; an increase of 21 percent. While this upsurge is much lower than in other comparable economies—in Germany, for example, [...]
Do brands benefit by using AI Systems? June 13, 2018 Artificial intelligence is becoming one of the most popular topics among brands and marketers. This is because it is proven to make everyone’s life easier. Brands have chunks of data they need to process and make the best out of them, and AI proved to be very helpful with such tasks. Most people tend to [...]
Lloyd’s of London is launching a global insurtech sandbox in the name of reinvention June 12, 2018 For the first time in its 330 year history, insurance behemoth Lloyd's of London is launching a global innovation sandbox to find tech talent that can develop new solutions as it attempts to digitise. Nicknamed Lloyd's Lab, the new initiative will see corporate innovation specialist L Marks go on the hunt for entrepreneurs, early and [...]
Bitcoin was just the beginning of the imminent blockchain era June 12, 2018 Mention “blockchain”, and most people still immediately think of bitcoin – or ethereum, or ripple, or other cryptocurrencies. That’s not surprising, given that bitcoin was the first expression of blockchain technology. As the values of cryptocurrencies have soared and fallen, speculation has risen that the “bitcoin bubble” is about to burst. However, it is the [...]
UK venture capital firm Ascension Ventures launches cross-border effort for the first state-backed UK-India tech fund June 12, 2018 London-based early stage venture capital firm Ascension Ventures has announced a joint venture with Unicorn India Ventures (UIV), launching the first UK-India Enterprise Investment Scheme (EIS) Fund. Known as the Unicorn Ascension EIS Fund (UAF), it will leverage the EIS tax relief wrapper to enable investment into UK-based technology scale-ups which hold a focus on [...]
AI-powered language learning startup Memrise raises $15.5m in series B funding June 11, 2018 Memrise, a language learning app powered by machine learning, has closed a $15.5m (£11.5m) series B funding round, led by Octopus Ventures and Korelya Capital. Additional participation came from existing investors Avalon Ventures and Balderton Capital, which was recently listed as one of the top 10 unicorn-making funds in Europe. Its valuation is still under [...]
A million tech jobs? The race is on to define London’s digital future June 11, 2018 London is a city defined by numbers: 11 tube lines whisk us across the capital with ease and efficiency, 22 football stadiums attract spectators every weekend, 40,000 Ubers offer us a comfortable ride home, and 100 languages are spoken in every borough, creating the greatest melting pot in the world. The city must now strive [...]
