Democratizing data for the UK’s innovation economy
Dealroom, a leading provider of startup and innovation data, and HSBC Innovation Banking have come together to launch a first-of-its-kind national database for the UK’s tech startup industry – The Data Commons.
Keeping track of UK tech
uk.dealroom.co aims to be a one-stop-shop for everything you need to know about UK tech. What’s the data saying about sentiment in the market? Who are some of the most exciting startups right now? While universities are the ones to watch for the next deep tech spinout?
Over the last decade, the UK has emerged as the world’s third largest tech powerhouse, behind only the US and China. While in the past, the UK startup ecosystem could practically fit in one room, and the unicorns could be easily reeled off and counted on one hand. These days the UK’s has over 150 unicorns, and thousands of companies received investment every year. That makes it all the more important to have a reliable up-to-date source for what’s going on.
The new platform provides a comprehensive single view of the UK’s startup and innovation ecosystem, combining data on investment, patents, job openings, companies, founders and more in an open-access platform.
Erin Platt, CEO of HSBC Innovation Banking: “Given the dynamic, fast-paced and unpredictable nature of the innovation ecosystem, the availability of open-access, real-time and accurate data is essential for making informed decisions. To date, innovators, investors, policy-makers and decision-makers have found it challenging to build and access a complete picture of the state of UK innovation. With Data Commons, the public and private sectors now have a critical tool to analyse and track the performance of the innovation economy to support investment and strategic decisions. This partnership reflects HSBC Innovation Banking’s unwavering commitment to empower the innovation ecosystem and shape the future.”
A tool for the whole ecosystem
The platform aims to be a practical, useful tool for anyone working in or near UK tech. Whether you’re a policymaker looking to support high-growth businesses, or worker looking for a new opportunity or a career change, and entrepreneur looking to start or scale, and investor or corporate hunting for innovative disruptors, a researcher or university innovation department.. etc.
Having access to the same data allows for a level playing field, and a common understanding of the market.
Saul Klein, partner at Phoenix Court; LocalGLobe and Latitude funds, said: “Since its launch, Datacommons has served as a critical tool for the UK tech sector, providing the industry with a free single source of truth. This relaunch couldn’t come at a more important time as the global challenges facing the tech community are increasing. Datacommons has become a vital comparative tool for investors wanting to evaluate the UK against other geographies, as we look to leverage our world-leading research and innovation to benefit society and grow the economy across the country.”
Real-time data for long-term decisions
The Data Commons uses real-time data across dealflow, funding rounds and recruitment amongst other data points.
The database includes details about individual tech businesses, founders, investors, VC funds, angel investors, universities, and more to provide a “360-degree view” of the UK’s digital tech economy.
Yoram Wijngaarde, Founder & CEO of Dealroom: “Dealroom was founded on a central mission to provide intelligence for startup ecosystems to reach their full potential through data transparency.
“This new project, unleashing the data behind UK Tech, represents a special project for us on that journey. The platform is open to all, and provides a 360-degree view of the UK’s innovation economy. We want anyone to be able to leverage real-time data that they can trust, to inform decision-making in the UK’s digital economy, from investors and policy makers, to job hunters and entrepreneurs.
“The UK is the beating heart of the European tech ecosystem, and startups are a vital economic growth and job creation engine. This platform gives that ecosystem a new town square, a meeting place to share and exchange ideas, insights and connection, to accelerate the next decade of UK tech.”
Specialised banking for tech and life science sectors
HSBC Innovation Banking is HSBC’s new global, specialised banking proposition for businesses in cutting-edge sectors, such as tech and life sciences, and their investors.
It combines the expertise of the former Silicon Valley Bank UK (SVB UK) with HSBC’s international strength in the US, Israel and Hong Kong to enable businesses focused on innovation to compete globally.
HSBC Innovation Banking supports a range of businesses from early-stage growth ones to late-stage public and private corporates, and connects them with its global capabilities, including investment banking, private banking and asset management services.