Tech5: Today, the global tech industry is one of the most competitive sectors. Startups and scaleups are competing fiercely for recognition, investment, and market dominance. TECH5, also known as the “Champions League of Tech,” features only the most prestigious high-growth tech companies.
In 2024, all companies featured in this elite group will be UK-based. This not only showcases the UK’s technological strength but also highlights its innovative ecosystem. By entering TECH5, these companies gain more than just local recognition—they now earn the opportunity to compete against the world’s best on the global stage.
Table of Contents
In this blog, we will explore:
- What TECH5 is and why it matters
- The five UK scaleups that made the list
- The broader impact on the UK tech sector
You’ll gain a clear understanding of why TECH5 is a 21st-century game-changer and how these companies could shape the future of technology.
What is TECH5?
TECH5, also known as the “Champions League of Tech Startups,” is a global tech platform that selects the top 5 fastest-growing, most innovative tech companies from around the world.
In simple terms, TECH5 is an elite platform reserved for the fastest-growing companies to gain worldwide attention from investors, customers, and partners.
How Companies Get Selected for TECH5
To make it into TECH5, companies need to pass 4 crucial tests:
Innovation
You might ask, “Is this something truly new?” TECH5 looks for game-changing tech—like AI programs that predict diseases or fresh business models like what Netflix did with streaming.
Scalability
They assess whether your product can match customer needs globally and whether your company can support millions of users across countries—for example, a payment app that works worldwide.
Market Impact
Does it solve important problems? The judges want to know:
- How many real people or businesses are using your solution
- Whether it effectively addresses major challenges in specific regions
Example: A water purification system used by 50,000 families in drought areas
Growth Trajectory
The most important parameter that reflects your company’s future:
“Are the numbers skyrocketing?”
They’ll check whether your company’s revenue is doubling or tripling each year and how significantly user numbers are increasing.
It’s like companies are judged based on both current performance and future potential (scalability)!
Why TECH5 Matters: Your Ticket to the Big Leagues
Getting into the TECH5 list isn’t just an award—it’s a treasure trove for growing tech companies. Here’s why it makes such a huge difference on the global stage:
Global Spotlight – From Local to Global Fame
To grow, your company needs to go from a local player to a globally recognized name.
Why this matters:
- Global recognition brings more opportunities
- Bigger companies and investors start noticing you
- You can compete on the world stage
Investor Magnet
TECH5 helps you get not just funding, but the right funding—from investors who can accelerate your growth with both capital and connections.
Here’s why this matters:
- Fast-track funding
- Better terms
- Strategic partnerships
Power Partnerships: Your Ticket to the Big Leagues
Getting on the TECH5 list turns your dream of working with companies you once only read about into reality.
Here’s why it matters:
Before TECH5, you had to knock on doors that never opened.
After TECH5, industry leaders come to you with partnership ideas.
The Five UK Scaleups That Made the List
Here’s an easy-to-understand breakdown of five UK companies that made it into this elite list of fastest-growing, most innovative, or top-funded startups:
1. Revolut
Revolut is a leading fintech digital banking platform founded in 2015. It provides financial services such as multi-currency accounts, crypto trading, and budgeting tools. By 2023, Revolut had become one of the UK’s most valuable fintech companies, reaching a \$33 billion valuation. With over 40 million customers worldwide, it continues to expand its global presence and innovate in digital banking.
2. Deliveroo
Deliveroo is a food delivery startup that has revolutionized the industry by connecting users with local restaurants through its app. Currently operating in over 10 countries, the company has partnered with 180,000 restaurants and works with 150,000 riders to ensure efficient deliveries. Its innovative approach, including delivery-only “dark kitchens,” has solidified its position as a key player in the market.
3. Monzo
Monzo, a digital neobank, is known for its user-friendly app and transparent banking model. It offers features such as fee-free international spending, savings pots, and early salary access, which have helped it attract over 9 million customers globally. After years of rapid growth, Monzo achieved profitability in 2023, proving its ability to compete with traditional banks while maintaining strong customer loyalty.
4. BrewDog
BrewDog began as a small craft brewery and has since grown into a global brand with a £2 billion valuation. Thanks to its bold marketing and innovative crowdfunding model, the company has expanded into sustainable brewing, opened bars worldwide, and even launched a carbon-negative beer initiative. With its disruptive approach and strong branding, BrewDog has become a standout leader in the food and beverage sector.
5. Graphcore
Graphcore is a semiconductor company specializing in AI chips designed to accelerate machine learning tasks. Despite facing competition from giants like NVIDIA, it has secured major investments from Microsoft and BMW, reaching a \$2.8 billion valuation in 2022. Even amid market challenges, Graphcore has proven itself as a global innovator in AI hardware, empowering researchers and businesses to process complex data faster and more efficiently.
Impact of UK Scaleups on the Tech Sector
Boosting the UK’s Tech Reputation Globally
- Revolut and Monzo are paving the way for the UK to become a fintech leader.
- Graphcore is positioning the UK as a key player in AI chip development.
Creating Jobs & Startups at Scale
- These companies have created over 15,000 high-skilled jobs.
- Former Revolut employees have founded more than 20 new fintech startups.
Transforming Rules & Markets
- They helped establish the FCA’s regulatory sandbox for testing innovative products.
- Their success has made banking APIs and cloud kitchens more mainstream.
Attracting Investment & Partnerships
- These companies have secured over \$12B in funding for UK tech.
- Their growth has increased investor confidence in UK start-ups.
Unlocking Future Potential
- Projected to contribute £50B+ to the UK economy by 2030.
- Expected to inspire new industries such as:
- Banking-powered insurance
- Next-generation AI chips
Conclusion
TECH5 companies like Revoluta, Manzo, and Graph core have created an ecosystem in which Britain can grow world-class start-ups. They’ve helped the UK become a competitive leader in banking tech (fintech) and AI, created thousands of high-skilled jobs, and brought in billions in investment. These companies are dynamic forces reshaping entire industries—from banking to food delivery.
But to keep growing, they need:
- Adequate funding to compete globally
- Government regulation that promotes innovation and skill development
FAQs
1. Why are these start-ups important?
Start-ups play a crucial role in boosting a country’s GDP. They create jobs, attract investment, and position the nation as a technology leader.
2. What are the key challenges they face?
While challenges are ongoing, the most significant include:
Funding shortages
Unfavourable government regulations
Competition from larger corporations (primarily based in the U.S. and China)
How are they revolutionizing industries?
These start-ups are transforming sectors by:
Digitizing end-to-end processes
Replacing outdated systems
Developing cutting-edge technologies
