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UK health and tech startups are looking for suitors.
According to the Outlook report from Silicon Valley Bank, which includes tech and healthcare companies, 59% of UK startups say their long-term goal should be achieved, while 17% aim to go public .
Still, having a long enough time to reach this goal can be difficult for many businesses, as 80% of respondents rate the fundraising environment as somewhat or extremely difficult.
Related: take the step of starting? Be prepared for these 5 realities.
Phil Cox, president of the British branch of Silicon Valley Bank, said in the article that although markets have slowed in the past year, the bank remains “cautiously optimistic”.
“We expect a healthy recalibration in terms of technology assessments, but funding will still be available for startups solving real problems,” he said. “This year, businesses will focus on profitability over growth at all costs – which will ensure that the UK innovation economy continues to thrive and maintain its position on the world stage.”
Related: 6 Lean Startup Lessons from Lean Startup Co-Founder
This is the fourth year that Silicon Valley Bank has published this report. This year’s edition presents other concerns related to start-ups and business, including access to high-quality talent, diversity in the workplace and skills.
This study was previously covered by Tech City News.