Funding for impact tech start-ups soars to £2.8 billion

Funding for ‘purpose-driven’ start-ups has soared to £2.8 billion ($3.5 billion) in the past 10 years, according to research from Tech Nation and Google for Startups.

“The UK’s start-ups today have a more important role than ever before, helping to solve some of our biggest challenges and drive economic growth,” said Marta Krupinska, head of Google for Startups. “A decade ago, we launched Google for Startups with a mission to support thriving, diverse, and inclusive start-up communities.”

The analysis reveals that between 2011 and 2021, funding for impact tech companies addressing UN sustainable development goals rose from £59 million ($74 million) to £2.8 billion ($3.5 billion).

“As our report with Google for Startups makes clear, UK tech is working to solve some of the world’s most pressing challenges, including helping the UK reach its goal of zero carbon emissions, and tackling social issues such as financial exclusion,” said Gerrad Grech, founding chief executive of Tech Nation.

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