The Race to Innovation
We've seen significant growth in technology start-ups entering a crowded market in 2016. According to the Centre for Entrepreneurs, the total number of new start-ups launched in the UK alone, has grown by 50% between 2011 and 2016. Whilst the number of Start-ups launching continues to accelerate each year, the survival rates are still low. In the tech sector alone, 92% of startups fail before hitting 3 years.
On the other end of the spectrum, we've seen enterprises struggle to innovate and bring new ideas to market, while trying to digitally transform their business.