The Royal Society, the Science Museum and Silicon Valley Comes to the UK (SVC2UK) have launched a joint project to track the fastest growing science companies in the UK, it has been announced.
The partnership looked at the financial information of companies already on their list of 375 “growth companies,” focusing on turnover in 2011, 2012 and 2013. Those with incomplete details or turnover below £50,000 in 2011 were excluded, leaving 157 companies with a total turnover of £1.85bn in 2013 and average growth of 65%. From these, the 50 top-performing companies were selected. These were found to be growing at a rate of 92%, with collective turnover of £1.31bn in 2013. Those who made the cut include Truckeast, WHS Plastics, Tech 21 UK and Six Degrees Technology Group.
“We are excited to partner with the oldest scientific academy in continuous existence, expanding the work we have been doing in the UK focusing on celebrating and supporting the CEOs of the fastest growing science-based companies,” Sherry Coutu, co-chair of Silicon Valley Comes to the UK, said of the project.
“The Index highlights the extent to which these companies contribute strongly to UK economic growth,” she added.