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The Latest Breaking News on European tech

‘A huge disruption’: Startups worldwide gird for life after SVB

Quang Hoang, the co-founder of a startup called Birdly Inc., spent his Monday refreshing the website of Silicon Valley Bank every hour. His San Francisco-based mentoring startup had about $10 million deposited with the now-failed financial institution, patronized by a large portion of the country’s most promising tech companies. But…

Tribune News Service

Saudi Arabia Advances 15 Ranks on Global Innovation Index

Saudi Arabia has risen 15 places in the World Intellectual Property Organization (WIPO) Global Innovation Index 2022, reflecting the extent of development in research, development, and innovation in the Kingdom.

Asharq Al-Awsat

Silicon Valley Bank’s collapse undercuts key engine of Bay Area economy

The collapse of Silicon Valley Bank has stripped the Bay Area’s startup industry — a key driver of the region’s economy — of a crucial source of funding that for decades has fueled innovation and growth.

Tribune News Service

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Britishvolt sold for just £8.6m after racking up losses of more than £150m

The huge scale of the company's debts before it went into administration have been revealed

Birmingham Post

Data centre used to heat 25-metre swimming pool at Devon leisure centre

Waste heat from computing infrastructure can be used to heat houses and swimming pools

Evening Standard

Volkswagen Group To Build Battery Cell Factory In Canada

The Volkswagen Group officially announced that will build a new lithium-ion EV battery cell factory in St. Thomas, Ontario, Canada.

InsideEVs

Innovative heat tech could save England’s swimming pools from closure

Twenty pools may be upgraded this year after startup uses energy from small data centre to heat water

The Guardian - UK

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Recruiter Eden Scott on course for £13m turnover as Scottish jobs market remains “buoyant”

Founding director says company also set to grow profits despite

Insider UK

Software firm Natural HR acquired by North West outfit

Moorepay says the deal will help it strengthen its HR software offering to our customers

Birmingham Post

Digital consultancy opens 'international hub' in Edinburgh

European chief executive says the capital is 'key for our long-term growth'

Insider UK

Welsh business activity returns to growth in February

Welsh firms saw a renewed rise in demand halfway through Q1 2023

Birmingham Post

North West's private sector sees first improvement since August 2022 - NatWest

The bank has published its latest PMI data for the region

Birmingham Post

North East economy stabilises but falls behind other regions, survey shows

The latest NatWest North East PMI Business Activity Index has come in at a score of 50.0 that indicates neither growth nor decline

Birmingham Post

'Biban 23' Discusses Importance of Supporting Talent to Boost Economy

The third day of the "Biban 23" forum's event saw discussions on the value of assisting small and medium-sized businesses in luring top talent, generating innovative ideas, and creating jobs that will boost the economy. This came during a panel session on "Financing and Attracting Talent: A Essential Influencer for…

Asharq Al-Awsat

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Evening Standard

‘We can’t make payroll’: scores of London tech firms in cash crisis amid Silicon Valley Bank collapse

The UK startup ecosystem is under immense strain today after the collapse of Silicon Valley Bank has prevented scores of startups from accessing the cash to pay staff.

Birmingham Post

Healthcare track and trace software firm Fingerprint Global acquired in private equity-backed deal

South Gloucestershire-based Fingerprint Global’s tech is used by around 200 NHS trusts

Birmingham Post

Britishvolt collapse triggers £35m hit for listed plant hire firm Ashstead

The group, which trades as Sunbelt, was a major investor in the startup before its collapse in January

Birmingham Post

Belfast tech company launches app designed to make planning a night out easier

GetSociable will pilot in Belfast before being rolled out across UK, Ireland and rest of Europe

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Axios

What happened to Silicon Valley Bank?

Behind the remarkable reversal of fortune for the startup world's bank of choice.

Birmingham Post

Chief executive of graphene firm Versarien resigns

Neill Ricketts’ departure comes weeks after the company said the tough economic conditions had delayed the commercialisation of its products

Asharq Al-Awsat

UAE’s DAMAC Boosts Investment in Saudi Data Centers

Hussain Sajwani, Chairman of the Board of Directors of DAMAC, said that the group’s investment in data centers in Saudi Arabia came after an extensive study of the Saudi market, which offered many promising investment opportunities within the framework of Vision 2030. In an interview with Asharq Al-Awsat, Sajwani pointed…

The Guardian - UK

Deloitte CEO in thinly veiled criticism of EY after rival’s split plans thrown into chaos

Joe Ucuzoglu posts 20-minute video to Deloitte’s public website

Evening Standard

Beleaguered London fintech Railsr agrees rescue sale in bid to avoid collapse

Struggling fintech Railsr is set to be rescued from collapse after it agreed a sale to a consortium of investors.

Insider UK

Scotland’s National StartUp Awards finalists revealed

The second annual event has been organised to celebrate new businesses founded since the pandemic

Birmingham Post

Access to finance in Wales not nearly diverse enough, say tech startups

The investment scene in Wales was a ‘shocking’ contrast compared to other parts of the UK, said some tech founders

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