The latest Future 50 list of up and coming companies has been released and it’s dominated by eCommerce firms.
The list, compiled by publicly-funded non-profit business agency Tech City UK, is released on an annual basis and picks out firms which are likely to make a success of themselves in the coming year.
And in a sign of the times, a third of this year’s list is made up of eCommerce companies.
A third of the next batch of firms included in the government scheme is focused on selling online.
Featuring on the list is a big deal, with many firms which have been featured in the past, have made it big. On the 2013 list was advertising technology firm Unruly, which was acquired by NewsCorp for £114m. Online marketplace Funding Circle has also featured in the past and has just been valued at more than $1bn (£670m), while household name Shazam, a music discovery app, has also been valued north of $1bn.
Fintech, a financial technology startup, made a huge success of itself this year and was one of several financial tech firms to grow rapidly. There were seven financial technology firms on the list last year, and this year they have been usurped by eCommerce firms, with 15 on this year’s list.
That means Tech City is predicting 2016 will be a fantastic year for eCommerce, which means anyone looking to set up an eCommerce business should act now, while the time is ripe, and get in touch with a Magento agency to establish themselves.
The companies featured on the list will gain access to “tailored support” from experts in business which is designed to “accelerate their growth trajectory”.
So which firms should we be watching out for?
Buddi – Buddi is a firm making wearable tech fitted with location tracking and the ability to contact emergency services on behalf of the user, depending on their needs and situation.
Crowdcube – This new venture is an online crowdfunding platform designed specifically for entrepreneurs, and has already seen £100m pledged to users by investors.
Deliveroo – This service provides ‘as and when’ delivery services for restaurants, allowing them to deliver takeaway even when it isn’t their primary business. It has raised more than $200m and is set for international growth this year.
Iwoca – Iwoca is another “Fintech” firm, which offers credit facilities to small businesses throughout continental Europe.
LoopUp – A simple online service which provides businesses with an easy and remote way of holding conference calls and online meetings.
Lost My Name – This business provides customised children’s books and has sold more than one million copies in the last two years.
Space Ape Games – This mobile gaming company has focussed on tapping into the mid-core games market.