UK start-ups thriving in multiple sectors

Start-up businesses are thriving across the UK thanks to cash injections from investors far and wide, a new study suggests.

According to a report in City AM, investment in insurance technology (or ‘insurtech’) start-ups alone has grown by almost 3,000 this year.

Commentators have said that the UK is currently “topping the table” for insurtech investment across Europe, with the number of investment deals agreed up by 75 per cent in the first half (H1) of 2017.

So far, investors have pumped an estimated £218 million into budding British insurtech firms this year – but separate data suggests that this is not the only start-up sector proving resilient at a time of political uncertainty.

Research recently published by energy intelligence group Wood Mackenzie Ltd has found that start-up businesses in the UK’s North Sea oil and gas sectors are also thriving.

It estimates that approximately 14 new oil projects will be launched every single day this year, giving way to combined peak production of 230,000 barrels of oil or oil-equivalent a day.

A report in Energy Voice suggests that the UK North Sea is on track for “the biggest year of oil and gas field start-ups in a decade.”