A privately owned startup company worth $1 billion or more
What do Monzo, Gousto and Gymshark have in common? They’re all ‘unicorns’.
Companies with ‘unicorn’ status are worth $1 billion or more, contributing roughly £1 trillion to the UK economy.
Tech unicorns have grown exponentially in the UK over recent years, with six more startups joining the coveted club in 2020 including Cazoo and Octopus Energy.
There are 90+ unicorns in the UK alone - that's more than the total amount of unicorns in France, Germany and Sweden combined.
A 'decacorn' is a privately-owned startup company that is worth $10 billion or more. The UK is home to 13 decacorns, and is the third country in the world to achieve this landmark after the US and China. Some of the UK’s most well-known decacorns include Ocado Group, Revolut and Deliveroo.
As part of the government’s Ten Tech Priorities, we’re committed to ensuring unicorns, ‘futurecorns’ (companies capable of becoming unicorns) and other tech businesses can continue to thrive and innovate. We want to help make the UK one of the best places in the world to start a business.
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