2020 has been a very challenging year for companies so far. Due to COVID-19, the global economy had to face many difficulties and learn how to adapt to the current situation. What's more, Brexit is predicted to be add more difficulties to the organisations. Nevertheless, there are UK businesses that continue their development, contribution to society and creating new opportunities.
The UK has a lot to offer, given their ever-growing number of businesses. Cambridge has an impressive community of medical and high-tech departments. According to “The top 100 Britain’s fastest-growing businesses”, the number of fast-growing companies in the East of England rose from five in 2017 to twelve in 2020. Also, in Oxford, the numbers have lately changed from five businesses in 2018 to seven right now. This clearly shows how fast the numbers are growing each year.
Want to know who to look at? We have prepared a list of six companies that you should definitely follow.
- Revolut – It is a digital finance platform that offers banking, crypto courses, currency exchange and brokerage services. It was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko and is now the most popular banking app in the UK. With Revolut you can spend money abroad free of charge in over 130 currencies. Also, it makes financial control even easier with their budget planner, with which you can set your monthly budget for things you really need. Of course, Revolut is also a highly beneficial platform for business users, as they can control their payments, company cards, expenses, and even pay abroad like locals, without any hidden fees.
- Darktrace – was founded in 2013 by mathematicians. It was the first company to create an AI system for cybersecurity. Their technology is capable of identifying a wide range of threats at their earliest stages – such as internal attacks, cloud-based threats, hidden gaps, and state-sponsored espionage. More than 3,500 organisations worldwide rely on Darktrace’s Cyber AI Platform. In 2020, their system was able to catch two takeovers of Microsoft 365 accounts. The aforementioned proves that while deciding on a cybersecurity software provider, Darktrace is a good choice.
- Healx – Healx was founded in 2014 by Dr Tim Guilliams and Dr David Brown. It all started when they met Nick Sireau, whose son had an extremely rare genetic disorder. Nick tried to find a new treatment for his son’s illness but it was time-consuming and very expensive. The founders inspired by Nick’s story began Healx- a company with a world-class team of drug explorers, SI engineers and bioinformatics professionals who combine their skills to help find new treatments and implement them into clinical trials within 24 months.
- Bulb – In 2015, Hayden Wood and Amit Gudka, tired of inefficiency, poor service and expensive tariffs, decided to change the energy industry. They founded Bulb, which aims to make energy simple, cheap and green. The company is the fastest-growing energy supplier in the UK. It provides 100% carbon-neutral gas and 100% renewable electricity to over 1.6 million customers. By 2019, Bulb had signed up over one million households across the UK. Now, it continues to be one of the most competitively priced energy suppliers on the market.
- Babylon Health – It was founded in 2013 by Ali Parsa and is now the UK’s leading digital healthcare service. Babylon combines the power of AI with the best medical knowledge to provide its customers with access to healthcare, including treatment advice, personalised health assessments and face-to-face doctor appointments 24/7. In 2015, Babylon has received several accolades, including the Mobile App of the Year at the 2015 UK IT Industry Awards and was also included in Apple’s list of best apps.
- Graphcore – It is a company that accelerates breakthroughs in AI and machine intelligence. Graphcore was founded by Simon Knowles and Nigel Toon in 2016 and was the first company to release the world’s first graph toolchain designed for machine intelligence called Poplar Software Stack. The company focuses on bringing us closer to the future with their new processor, the Intelligence Processing Unit (IPU), which, according to their website, “will become the worldwide standard for machine intelligence compute.”
You can, of course, find many other interesting companies, but we think that the ones mentioned above definitely deserve your attention. The UK market is for sure the one to observe now and in the future due to both the companies with the history on the market and the emerging start-ups.