Business News Round Up (17/01/2020)
British tech start-ups beat £10bn funding to top global growth
Venture capital investment into UK tech companies reached a record high in 2019, surpassing growth in all other countries including the US and China, according to new research conducted by Tech Nation and Dealroom for the UK’s Digital Economy Council. The data revealed funding rose 44% year-on-year, with the UK securing a third of the £30.4 billion of total investment in Europe, receiving more funding than Germany (£5.4 billion) and France (£3.4 billion) combined.
https://www.cityam.com/british-tech-startups-top-global-growth-for-venture-capital-investment/
City deals ‘positive for economy’ but lack measures of success
A report by the Accounts Commission and Auditor General acknowledged that the City Region and Growth Deals have been positive for the nation’s economy but said the Scottish Government did not have a plan to measure their overall long-term success. Audit Scotland said that while the city deals programme has been good for Scotland’s economy, enabling economic development which may not otherwise have happened, the government has not ‘set out how it will measure the programme’s value for money’.
Amazon opens Manchester office to create hundreds of jobs
Amazon’s new office in Manchester will create 600 new skilled jobs including software developers, solutions architects, applied scientists, business development specialists and finance analysts. Additionally, Amazon pledged to celebrate its arrival in Manchester by launching a new Future Engineer Bursary to support undergraduates from low-income backgrounds studying computer science at the University of Manchester.
https://www.businesscloud.co.uk/news/amazon-opens-manchester-office-to-create-hundreds-of-jobs
TSB to open Technology Centre in Edinburgh, creating 100 new jobs
Edinburgh based TSB has announced plans to create a new IT centre in Edinburgh to drive forward digital banking as part of a £120 million investment, creating 100 jobs. The centre forms part of TSB’s 2020 strategic plan to transform digital channels over the next three years and will become home to a number of IT specialists, data engineers and analysts.
https://futurescot.com/tsb-to-open-technology-centre-in-edinburgh-creating-100-new-jobs/