Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, how many UK technology company acquired by foreign buyers were of (a) pre-revenue startups and (b) companies with revenues (i) under £10 million, (ii) between £10-50 million and (iii) £50 million in the last three years; and what assessment he has made of the implications for his policies of UK scale-ups being acquired before reaching their full growth potential.

The statistics requested are not readily available. The Department for Business and Trade is supporting the next generation of start-ups and scale-ups, aiming to create the UK’s first trillion-dollar technology business by 2035. The Industrial Strategy and Digital & Technology Subsector plan set out how we will achieve this. They set out a whole-of-government approach to the sector, reforming the business environment for digital and technology companies and addressing their needs for greater investment, skills, infrastructure, regulation and access to international markets.