The chart above shows that the ratio of businesses started per head in the UK to the US is maybe 3.8:7.6 – i.e. about 0.5 – whilst the ratio of VC investment as a percentage of GDP is 0.04:0.17 – i.e. 0.2. That tells me that the UK venture industry needs to grow 2.5x to match the US in size relative the economy and population.
I’ve been saying for a while now that the UK startup ecosystem is underfunded. It’s nice to put some numbers around it.
I pulled this chart from Saul Klein’s excellent presentation to Dublin Web Summit earlier this year.