Herding unicorns

‘Herding Unicorns’, published today by the Centre for Policy Studies, supported by UK tech firm Deliveroo, reveals how Britain can unlock the potential of its growing tech sector and expand its herd of ‘unicorns’. The report, written by a team led by former Government Special advisor Nick King and praised by techUK and the Coalition for a Digital Economy (Coadec), argues that any country that wants to play a leading role in the digital economy must foster the conditions to create and promote unicorn companies. The CPS report was informed by extensive interviews with tech investors, entrepreneurs and staff at existing start-ups and scale-ups. It identifies that high-growth companies in the UK struggle to access talent with key digital skills, and that the ‘financing gap’ between British and American companies grows wider with successive rounds of fundraising. The report calls on the Government to introduce a number of changes, including new tax incentives and a specific visa scheme to help high-growth companies address their skills problem, allowing the UK to grow its herd of unicorns further.

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