Tech Nation, the network for tech entrepreneurs which receives both public and private funding, has revealed the first 29 businesses to join its Applied AI growth programme, which aims to support AI innovators who are making a positive and tangible impact on society at a crucial stage of their development.
The Tech Nation-led programme is part of the Government’s AI and Data Sector Deal, with organisations chosen on their ability to provide AI-driven solutions to real world problems.
They include Glasgow-based ClinSpec DX, which uses AI to provide cost-effective blood tests for the early detection of brain tumours; London-based Cervest, which uses machine learning to answer questions linked to climate uncertainty, land, and natural resources; and Bristol-based Gapsquare, which applies AI to tackle gender and minority pay inequality.
The full list is Antiverse, Astroscreen, Bibblio, BIOS, C the Signs, Calipsa, CausaLens, Cervest, Chosen AI, ClinSpec Dx, Codec, DigitalBridge, Dream Agility, Factmata, Flexciton, Gapsquare, Genie AI, Grey Parrot, Humanising Autonomy, Latent Logic, Monolith AI, People Matter Tech, Plural AI, Predina, SenSat, Synthesized, ThinkSono, Wluper, Wordnerds.
According to a recent Tech Nation report, funding for the growth of AI-based companies in the UK has already hit £1.3 billion in the first six months of 2019, compared to £830 million in the whole of 2018.
The UK is also second only to the US when it comes to the number of AI companies in the country and third in the world behind the US and China when it comes to raising money for AI.
Minister for Digital Matt Warman said: “Britain has a long history as a global leader in computing technologies and it is home to the early pioneers of AI – Ada Lovelace and Alan Turing.
“It is great to see our legacy in this field continue by the next generation of British AI startups who are using the power of technology to solve real-world problems such as tackling fake news, detecting cancer earlier and efficiently managing waste.
“Tech Nation’s Applied AI programme will help us make the UK the best place to start and grow an AI business and generate a significant contribution to the future economy. I look forward to seeing these companies compete on the global stage.”