UK Startup Outlook 2017
KEY INSIGHTS FROM THE SILICON VALLEY BANK
STARTUP OUTLOOK SURVEY
@SVB_UK #StartupOutlook
UK Startup Outlook 20172
Silicon Valley Bank presents Startup Outlook 2017, the bank’s annual
report on the health of the innovation economy. This year, it comes at
a time of signifcant transition around the world and opportunity in
the innovation sector. In its eighth year, the Startup Outlook survey
asks entrepreneurs to share what they are thinking about business
conditions, access to capital and talent and the critical policy issues
that help or hinder their success.
Nearly 950 technology and healthcare executives, primarily from
theUnited States, UK and China, participated in the survey, which was
conducted shortly afer the November 2016 UnitedStates presidential
election. Given this timing, we did recognize some uncertainty in the
responses from what is historically an optimistic group. As the United
States transitions to a new administration and the United Kingdom
negotiates Brexit, startup sentiments and markets may shif when
policies and priorities become clearer. In China, we’re seeing similar
themes as the country navigates a historic transition from
an industrial to an innovation economy.
Against this backdrop, there is good news. The innovation sector is
building strength afer a healthy recalibration in 2016. Public markets
have bounced back, jobs reports are more optimistic, investors
are doing deals, valuations are corrected, more funding options are
available and the exit market has improved. No matter where they
are located, at least 85 percent of entrepreneurs are expecting M&A,
the ultimate exit for most startups, to increase or stay the same. In the
United States, SVB is predicting the number of venture capital-backed
IPOs to double or even triple over 2016.
Here’s what else we see: There is more potential now for innovation
to thrive than in the last 25 years. The breadth of opportunity created
by old-world industries being transformed by technology continues to
expand globally. Still, companies forming now will have to prove their
value with a higher bar as investors continue to identify opportunities
with the most promise. We have a long-term positive outlook for the
innovation economy, but individual startups will face challenges.
It’s the nature of the business of building disruptive companies. So
mindful of the unicorn lineup awaiting exits, we will not be surprised
to see companies struggle and fail this year, potentially even more
than in recent years. This is healthy innovation.
Thank you for your interest in Startup Outlook 2017.We hope the
fndings can be useful as you chart your own path or follow this sector.
Looking globally, the opportunities for innovation are abundant.
Greg Becker
President and CEO,
Silicon Valley Bank
Strength in the Innovation Sector
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UK Startup Outlook 20173
Industry sectorProftable
56% Yes
44% No
Ownership
69%
Technology
(net)
15%
Healthcare
(net)
16%
Other
Revenue stage
Total
respondents
941
Primary place of business
62%
US
14%
UK
16%
China
8%
Other17
%
Pre-revenue
65%
Up to $25 million
in revenue
18%
More than
$25 million
in revenue
95%
Private
5%
Public
AB
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TH
E
SU
RV
EY
Our eighth annual survey of technology and healthcare executives ofers insight into what’s on the minds of innovation leaders
today. For this year’s survey, we received 941 responses covering such topics as how innovation companies are faring, hiring
projections and how government policies are afecting business growth.
About the Startup Outlook 2017 survey
Peerless Insights Survey, a third-party frm, conducted the Startup Outlook 2017 survey online on Silicon Valley Bank’s behalf from November 14, 2016, to January 3, 2017.
UK Startup Outlook 20174
UK
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UP
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LO
OK
The ingredients that have led the UK to become a top global
innovation center are frmly in place. Recent geopolitical events
are creating uncertainty, but our view is that Brexit may well
create opportunities to enhance the UK’s competitiveness in the
EU. We expect there will be new focus on the factors that drive
business innovation and success, including easing contractual
arrangements, creating new investment opportunities and
making taxation more competitive.
Not surprisingly, the UK survey respondents indicate there
is less optimism about business conditions than a year ago, yet
more startups expect to grow their workforces in 2017. This may
be a year of transition, but innovation in Britain is strong.
UK Startup Outlook 20175
BU
SI
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Optimism among
UK startups takes
a knock for 2017
Uncertainty appears to be tempering optimism
about business conditions in 2017. About half
say conditions will improve, down from 58%
last year.
Describe your outlook on business conditions
for your company this year compared to last:
79%68
%
58%48
%
19%29%
41%
36%
2%3%1%16%
2014201520162017
Same or better
Worse
Will be better Will stay the same Will be worse
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