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08 September 2017

Twelve companies in the Southeast win places on league table of Britain's fastest-growing tech firms

Published this weekend, the 17th annual Sunday Times Hiscox Tech Track 100 league table ranks Britain's private technology, media and telecoms (TMT) companies with the fastest-growing sales.

The 12 companies headquartered in the southeast of England (compared to 20 last year) include four new entrants to the league table. Their sales have grown by an average of 88% a year over three years to a total of £330m, and together they employ more than 2,100 people.

The new entrants include Symetrica, a University of Southampton spin-out, which designs and manufactures patented equipment that can identify materials that could be used to make dirty bombs. Contracts with the likes of the US Department of Homeland Security helped it grow sales by an average of 92% a year to £8.2m in 2016.

Abingdon-based PsiOxus is another new entrant. Helped by £55m funding from investors including Imperial Innovations, it has developed viruses that can deliver medicine to cancer patients. Revenue from licensing its IP grew by an average of 120% a year to £8.6m in 2016, after it secured a deal with multinational Bristol-Myers Squibb.

The companies in the southeast appear with businesses from around Britain, including designer fashion website Farfetch, peer-to-peer lending platform Funding Circle and online entertainment community LADBible. Past stars range from travel search engine Skyscanner, which was bought by Ctrip, China's largest travel company, for £1.4bn last year, to takeaway website Just Eat, now worth £4.2bn.

The Tech Track 100 is sponsored by Hiscox, Barclays, BDO, BGF and N+1 Singer, and compiled by Fast Track, the Oxford-based research and networking events firm.

Steve Langan, CEO of Hiscox Insurance Company, commented:

"Congratulations to all of the companies on the Sunday Times Tech Track 100. Their courage is laudable; rapid growth and continual innovation takes grit. We are extremely proud to be associated with such an impressive list."

Private tech companies in the southeast

The national picture

This year's Tech Track 100 companies achieved, on average, record sales growth of 99% a year over three years to a combined total of £2.9bn. They employ 15,300 staff, having added 12,000 employees to their combined workforce over the period.

London is the most popular location for company headquarters with 57, followed by the southeast (12). Of the remainder, eight companies are based in the northwest, six in the northeast, six in the East, four in Scotland, three in the Midlands and two each in the southwest and Wales.

The full league table is published as a 10-page supplement with the business section of The Sunday Times on 10 September, both in print and in the digital edition, and on www.fasttrack.co.uk.

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