Tech Nation has listed the 32 companies to join its Applied AI Growth accelerator programme which is focused on the UK’s deep tech space.
The programme was created as part of the government’s AI Sector Deal, which was launched in 2019 to realise the social and economic benefits of AI and harness its potential. Companies selected for the programme are using AI to solve problems like tackling disinformation online, diagnosing conditions like cancer and combating climate change.
Of the companies to join the programme, 59% are based outside London, with the highest representation coming from the South East, East of England and Scotland. In the cohort 44% of the companies have a female founder.
According to data from Pitchbook, the UK is leading the way for AI investment in Europe. It is responsible for $1.48bn invested during 2020 and is followed by France and Germany, where $538m and $400m has been invested, respectively.
Of the UK investment, the majority of this has gone to big data, which accounts for $872m and is followed by TMT ($712m), SaaS ($588m), and Fintech ($474m).
Harry Rhys Davies, AI Programme Lead, Tech Nation commented: “The UK must take every opportunity to nurture scalable, globally-competitive, homegrown AI companies that solve real problems and have far-reaching impacts on the productivity potential of the economy.
“The Applied AI growth programme aims to do exactly this, taking 32 of the UK’s most exciting AI scaleups, and through peer-to-peer learning and mentoring removing many of the unique barriers to growth that companies in this sector face. Backed by leading VCs and led by an exceptionally talented group of founders, this cohort of companies is primed to make an impact.”
The programme received 179 applications from across the UK. Judges include Sana Khareghani, Head of the UK Government Office for AI; Tabitha Goldstaub, Chair of UK Government AI Council; Nathan Benaich, General Partner, Air Street Capital and Dr Mike Short CBE, Chief Scientific Advisor, DIT.
One of the FinTech platforms in the cohort is Infer, which helps transform communications data in real0time to drive customer interactions and boost revenue.
The other companies to make the list include: environmental platform Archangel Imaging, drug discovery data platform Arctoris, construction support solution BKWai, heart attack prediction AI Caristo, autonomous livestock monitoring platform CattleEye, legal data startup Cognitiv+, construction intelligence solution Contilio, infrastructure platform Continuum Industries and personal data management service Conundrum.
AI-powered digital library of disease biomarkers ILOF, AI communication service LGN,fact-checking solution Logically, email marketing solution for e-commerce stores Machine Labs, automated manufacturing assessment company Metis Labs, project planner Nodes & Links, construction risk analysis company nPlan, eye health startup Okko Health, industrial safety platform One Big Circle and lung cancer diagnosis service Optellum.
Cancer diagnosis firm Panakeia Technologies, material, batteries and drug discovery business Rahko, waste management transparency startup Recycleye, 3D sensing and perception software developer Robok, Simplifying aviation decision-making company SATAVIA, data analytics platform for healthcare Sonrai Analytics, patient support service Talking Medicines, knowledge exchange Techspert, global logistics company Vector AI, cancer patient care solution Vinehealth, sales automation software Voice IQ and citizen service automation platform We Build Bots.
Copyright © 2020 FinTech Global
