Tech City UK has opened applications for its tech startup growth programme Future Fifty.
The second Future Fifty programme will offer another 50 growth-stage technology companies an opportunity to scale through bespoke support and networking with stakeholders, partners and government influencers.
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Launched in October 2013, the Future Fifty programme has provided support to high-growth startups including Just Eat, Unruly, SwiftKey and Hailo. The current Future Fifty companies employ more than 15,000 people and have generated around £2.1bn in net revenue.
Over the past 10 months, four of the companies have completed initial public offerings (IPOs) on the London stock markets with a total value of £4bn, while 13 of the companies have attracted a combined £260m in investment.
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The new wave of Future Fifty startups will be announced in December 2014 to coincide with the graduation of the current companies. The new startups will fill the spaces of graduate firms to ensure a total of 50 companies are always active. Firms are allowed to stay on the programme for a maximum of 24 months.
Tech City UK CEO Gerard Grech said growth-stage companies are a key driver of jobs and revenue for the UK’s digital sector.
“Future Fifty is an integral part of our wider goal to fast track the growth of digital businesses across the UK,” he said. “We want to enable these growth-stage companies to reach their potential by smoothing their path to success as quickly as possible. We look forward to welcoming new companies to the Future Fifty programme to continue the UK’s digital success story.”
Lyst – the online fashion platform and Future Fifty company – found value in the programme from help with practical matters, such as employment visas and finding new office space, according to CEO and co-founder Chris Morton
“Having such assistance to hand allows us to focus on continuing to grow our business globally,” he said.
Companies can apply for a place on the programme by completing an application form online at www.futurefifty.com. The deadline for applications is 27 November 2014.