U.K. health and tech startups are looking for suitors.
Fifty-nine percent of U.K. startups say their long-term goal is to be acquired, while 17 percent aim to complete an IPO, according to Silicon Valley Bank’s Outlook report that included tech and health businesses.
Still, lasting long enough to achieve this goal may prove challenge for many companies, considering 80 percent of respondents characterize the fundraising environment as somewhat or extremely challenging.
Phil Cox, the president of Silicon Valley Bank’s U.K. branch, said in the article that even though the markets have slowed in the past year, the bank remain “cautiously optimistic.”
“We’re expecting a healthy recalibration in terms of tech valuations, but funding will always be available for startups solving real problems,” he said. “This year, businesses will be focusing on profitability over growth at all costs – which will ensure that the U.K. innovation economy continues to thrive and maintain its position on the global stage.”
This is the fourth year Silicon Valley Bank has released this report. This year’s edition features other start-up and business related concerns including access to high-quality talent, diversity in the workplace and skill sets.
This study was previously covered by Tech City News.