The United Kingdom is celebrating its billion-dollar startups—commonly known as unicorns—with the unveiling of the Ever-Changing Statue in New York City.
The installation, part of the U.K. government’s GREAT Britain and Northern Ireland campaign, features a unique 3D hologram showcasing the U.K.’s position as the third-largest tech investment destination globally.
The U.K. is home to over 160 unicorns, with valuations reaching as high as $18 billion. This stunning exhibit, commissioned by GREAT and created by British company HYPERVSN, pays tribute to the U.K.’s dynamic tech ecosystem. Unlike traditional monuments, the Ever-Changing Statue rotates through the founders and CEOs of prominent unicorn companies such as Quantexa, Blockchain, Octopus Energy Group, and Proximie. Located at Rise, a space developed by Barclays, the statue will be on display until April 4, 2024.
The U.K. boasts the third-largest tech economy worldwide, trailing only the U.S. and China. With a tech sector valued over $1 trillion, the nation is poised to become a global tech superpower by 2030, under Prime Minister Rishi Sunak’s ambitious plan. Significant investments are being funneled into areas like quantum computing, supercomputing, and artificial intelligence.
In 2022 alone, London attracted over $20 billion in venture capital investment. The U.K. houses 12 decacorns and ranks among the top three countries globally for unicorn formation across key tech sectors, despite its geographical size being 40 times smaller than the U.S. and China.
“The U.K.’s startup community consistently excels, thanks to a government system that facilitates capital access, eliminates red tape, and funds innovation—spending £14 billion ($17.6 billion) on R&D in 2021,” said Sunak. “This statue celebrates our startup community's success, highlighting innovative founders crucial to growing the U.K. economy.”
The term “unicorn” was coined a decade ago to describe companies valued at $1 billion or more, currently making up less than 1% of all venture-backed startups. Remarkably, the U.K. generates more unicorns than France and Germany combined.
Saul Klein, managing partner at Phoenix Court, noted, “Over the past 20 years, the U.K. has developed into a leading tech ecosystem, producing outstanding companies like DeepMind, Wise, and Monzo. Witnessing this transformation has been incredible. To sustain this growth, we need specialized knowledge and scalable capital to nurture the next wave of impactful founders.”
Fintech remains a stronghold for U.K. startups, ranking second globally for unicorn companies, with notable names such as Wise, Revolut, and Starling Bank.
Anne Boden MBE, founder and non-executive director at Starling Bank, stated, “Achieving unicorn status reflects our unwavering commitment to innovation and highlights the U.K.'s vast potential in technology. We at Starling Bank are proud to lead the transformation of the financial sector and to be included in the Unicorn Kingdom campaign. Our vision is to create cutting-edge solutions that empower individuals and businesses, which will drive economic growth for our nation.”
The Ever-Changing Statue not only celebrates the U.K.’s entrepreneurial spirit but also stands as a testament to its innovation and leadership within the global tech landscape.
Oliver Kent-Braham, co-CEO of Marshmallow, remarked, “Our success is largely due to the collaboration and access to capital we've experienced in the U.K. We built our company to support expats needing fair deals on car insurance. This parallels U.S. investment opportunities—there is immense potential for supporting innovative startups that may not be U.S.-based, yet can significantly impact global markets.”
Here’s the list of U.K. unicorn founders:
1. Anne Boden MBE: Starling Bank, Founder
2. Tessa Clarke: Olio, CEO & Co-Founder
3. Greg Jackson: Octopus Energy Group, CEO & Founder
4. Samantha Kempe: Immo, Co-Founder and CIO
5. Alexander Kent-Braham: Marshmallow, Co-Founder & Co-CEO
6. Oliver Kent-Braham: Marshmallow, Co-Founder & Co-CEO
7. Rishi Khosla OBE: OakNorth, CEO & Co-Founder
8. Dr. Nadine Hachach-Haram: Proximie, CEO & Founder
9. Vishal Marria: Quantexa, CEO & Founder
10. Russell Sloan: Kainos, CEO
11. Peter Smith: Blockchain.com, CEO & Co-Founder
12. Paul Taylor: Thought Machine, CEO & Founder
13. Mike Tuchen: Onfido, CEO
14. Dr. Ilana Wisby: Oxford Quantum Circuits, CEO & Founder
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