KPMG Tech Innovator - The Quest for UK's Top Tech Startup Begins

By Anushka Malhotra

1 minute 13 seconds

Tech

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Quick Read: KPMG launches its annual tech startup competition, seeking the UK's most promising tech innovators to compete on a global stage.

KPMG's Private Enterprise practice has kickstarted its annual hunt for the UK's most promising tech innovators with the launch of the 2024 tech startup competition. Since 2013, this competition has been a catalyst for uncovering groundbreaking tech ventures, propelling winners like What3Words, VividQ, and HiiROC to global acclaim.

Open to tech businesses at various growth stages, the competition offers a unique platform for shortlisted startups to showcase their innovations, network with industry experts, and vie for the chance to represent the UK at the prestigious global final held during Web Summit. Last year, Inovus Medical, with its cutting-edge digital surgery platform, emerged victorious, highlighting the caliber of talent present in the UK's tech landscape.

Euan West, UK head of KPMG’s Private Enterprise practice, emphasised the competition's role in spotlighting disruptive technologies and nurturing budding tech founders. With almost 400 applicants last year, the competition reflects the growing interest in UK-based innovation, attracting investors eager to support the next wave of tech unicorns.

The competition, which welcomes entries from pure technology, tech-enabled, and tech-led ventures, will culminate in a national final in London, followed by the global showdown at Web Summit. Dr. Elliot Street, co-founder of Inovus Medical, hailed the competition for its invaluable exposure and networking opportunities, urging aspiring tech companies to seize the chance to participate.

HiiROC, crowned UK Tech Innovator in 2022, underscored the global competition's significance in amplifying their groundbreaking work in zero-emission hydrogen production. CEO Tim Davies praised the event for its ability to connect innovators with potential partners, investors, and policymakers, propelling their mission to forefront.

As applications open for this year's competition, tech entrepreneurs across the UK are encouraged to showcase their transformative ideas and vie for the opportunity to shape the future of technology.

Apply Now.

What's new

West Midlands Health Tech Innovation Accelerator Unlocks Nearly £50M in Private Investment

The West Midlands Health Tech Innovation Accelerator (WMHTIA), led by the University of Birmingham, has generated an impressive £49.4 million in private co-investment within its first two years, significantly surpassing its original £14.5 million public funding allocation.

Funded through the Innovation Accelerator programme, coordinated by Innovate UK, the Department for Science, Innovation and Technology, and UK Research and Innovation, WMHTIA has become a leading force in advancing health technology innovation across the region.

The majority of the private investment—£36.3 million—was directly committed by investors to enterprises supported by the Accelerator. This achievement represents a threefold return on the initial public investment, demonstrating the strong investor confidence in the region’s health tech sector.

Powering Health Innovation Through Collaboration

The WMHTIA brings together 21 partners from academia, industry, and the NHS to help healthtech companies develop, validate, and commercialise cutting-edge medical technologies. So far, companies supported through the programme have also secured an additional £10 million in national public grants from agencies including NIHR, Eureka, and Innovate UK.

Including both public and private contributions, the total investment leveraged by WMHTIA now stands at £67.3 million.

Professor Adam Tickell, Vice-Chancellor, University of Birmingham:

We’re proud to support startups through the riskiest stages of innovation so more life-saving technologies reach patients. This exceptional investment proves what’s possible when academia, the NHS, and industry work together to drive economic growth and better health outcomes.

In March 2025, the Innovation Accelerator programme was extended with a further £30 million, including £4 million for the WMHTIA to continue supporting the region’s innovators in 2025/26.

Backing the Future of Health Tech

Richard Parker, Mayor of the West Midlands:

The West Midlands is leading medical tech innovation—from faster diagnoses to shorter hospital stays. Healthtech isn’t just improving lives; it’s creating secure, high-value jobs that drive inclusive growth.

Dean Cook, Executive Director of Place and Global, Innovate UK:

This programme shows how place-based innovation can unlock greater business investment in R&D. By connecting the region’s strengths, we’re creating high-value jobs and building globally significant innovation capability.

The WMHTIA continues to strengthen the region’s reputation as a national hub for health technology, with far-reaching benefits for patient care, job creation, and regional economic development.

By Anushka Malhotra

24 Jun