EIS30周年：推動初創(chuàng)企業(yè)投資報告（英文版）-Beauhurst

EIS30th

Anniversary

30YearsoftheEIS:DrivingInvestmentintoStartups

4

2

24

Beahurst

Contents

01.

Foreword

02.

Executivesummary

03.

IntroductiontoEISandSEIS

04.

EISTimeline

05.

SummaryofEIS

06.

Regionalgrowthanalysis

07.

Impactofthescheme

09.

Casestudy:Deliveroo

10.

Knowledge-intensivecompanies

11.

Casestudy:OXGENE

12.

Patents

13.

Grants

14.

Femalefounders

15.

Successstatistics

17.

Casestudy:Carcinotech

18.

Casestudy:Nova

PangaeaTechnologies

19.

Casestudy:Paddle

20.

Conclusion

21.

Methodologicalnote

22.

Aboutus

16.

InvestorsinEIS

08.

Regionalimpactofthescheme

Foreword

ChristianaStewart-Lockhart

DirectorGeneraloftheEnterpriseInvestmentSchemeAssociation(EISA)

Thisreport,markingthe30thanniversaryofthisremarkablescheme,servestohighlightthesigni?cantimpactthattheEIS(EnterpriseInvestmentScheme)hashadontheUKeconomy.

Notonlyhasitservedtoprovide￡30.0bofcriticalinvestmenttotensofthousandsofbusinessesacrosstheUK,butthe

datainthisreportalsoshowsthejobscreated,withEIS

backedcompaniesresponsiblefornearly400kjobsacrosstheUKin2023alone.

Since2014,almost80kpatentshavebeen?ledbyEIS

investeecompaniesunderscoringtheinnovativenatureof

thesebusinesses,manyofwhicharegenuinelyaddressing

someofthegreatestchallengesweface.Fromdiscoveringnewwaystotreatanddiagnosecancer,suchasEdinburgh-basedCarcinotech,totheworkthatRedcar-basedNova

PangaeaTechnologiesisdoingtocreatesustainableaviationfuel–EISinvesteecompaniesarerightattheforefrontof

innovationsthatwillshapetheworldforyearstocome.

Manycompaniesthatarenowhouseholdnamessuchas

DeliverooandZooplareliedonEISfundingattheveryearlieststages.AstheChancellorrecentlyshared,theUKhasmore

unicornsthanGermanyandSwedencombined.Thefactthatthereportshowsthatnearly50.0%ofUKunicornsreceived

investmentthroughtheEISgoessomewaytoillustratingthefundamentalrolethattheschemeplaysinthesuccessoftheUK’sstartupecosystem,helpingtoensurethattheUKisoneofthebestplacesintheworldtostartabusiness.Research

bytheEuropeanCommissionfoundtheSEIS(SeedEnterpriseInvestmentScheme)andEIStobethemostsuccessful

schemesoftheirkindintheworldandmanyothercountriesaretryingtoestablishtheirownversionstoemulatethe

impactthattheschemeshavehad,propellingtheUKtotheforefrontofglobalinnovationsandentrepreneurship.

ThereisnodoubtthatEISremainsacrucialelementofLondon’sstartupecosystemwithinvesteecompanies

employingmorethan110kpeopleandgenerating￡11.3b

inturnoverlastyear.However,thesuccessoftheEISisnoticeableacrossthewiderUKandtheregionalgrowth

analysisisparticularlyinteresting.EISinvestmentinScotlandhasdoubledoverthelast10years,andinYorkshireandthe

Humber,EISinvesteecompaniesarenowresponsiblefor

morethan17kjobs,a483%increasecomparedto10years

ago,andthelargestnumberoutsideofLondonandtheSouth-East.

Whilstasigni?cantgapinequityinvestmentintofemale-

foundedbusinessesremains,itispositivetoseethatthere

hasbeenconsistentgrowthininvestmentintoEIS-backed

companieswithatleastonefemalefounderovertheyears,

reachinganotablepeakbetween2021(￡1.51b)and2022

(￡1.52b).ThereremainsmuchmoretobedoneinthisareabuttheEIS,alongsidetheSEIS,isacrucialwaytoaddressthis.

TheimportanceoftheEIShasbeenwidelyrecognisedbyconsecutivegovernmentsoverthelastthreedecadesandthiscross-partysupporthascontinued,withtheLabour

governmentrecentlycon?rminga10-yearextensionoftheEISto2035.Asthedatawithinthisreporthighlights,thecontinuationoftheEISisakeywaytoboostthegrowth

prospectsofUKstartupsandthewidereconomy.

For30years,thisgovernmentschemehasdrivenprivate

investmentintotensofthousandsofinnovativebusinesses

andithasbeenextremelyeffectiveinaddressingthegap

infundingforveryearly-stagebusinesses.Thousandsof

entrepreneursacrosstheUKarecreatinginnovativestartupsandtheEISiscriticaltohelpingthemsecuretheinvestmenttheyneedtogrowtheirbusinesses.Thedatawithinthis

reportillustratesthefundamentalrolethatthesecompaniesareplayingandtheircontributionstotheUKeconomyin

termsofinnovation,jobcreationandeconomicgrowth.Aswelooktothefuture,thecontinuedsupportandevolutionoftheEISwillbevitalinmaintainingtheUK’spositionasaglobal

leaderinentrepreneurshipandinnovation.

EIS30thAnniversary

01

Executivesummary

￡192b

reportedinturnoverbyEIS-

backedcompanies

(2014–2023)

￡3.03b

grantfundingreceivedby

EIS-backedcompanies(2014

–2023)

￡32.0b

raisedinEISandSEISfundingsince1994

46.5%

ofUK-basedunicornsbacked

byEISbetween

(2011–2023)

￡7.61b

raisedbyEIS-backed

companieswithatleastonefemalefounder(2014–2023)

1,816

exitsbyEIS-backed

companies(2011–2023)

Sinceitsintroductionin1994,theEnterpriseInvestment

Scheme(EIS),alongsidetheSeedEnterpriseInvestment

Scheme(SEIS),hasdirectedover￡32.0bintomorethan

56.0kcompaniesintheUK.Designedtoaddressfunding

gapsforstartups,theseschemeshavesinceevolvedtoalign

witheconomicchangesandgovernmentpolicychanges,drivinginnovation,regionaleconomicgrowth,andjob

creationacrosstheUK.

Theresilienceoftheschemesisevident,havingsuccessfully

navigatedeconomicdownturnssuchasthe2008?nancialcrisisandtheCOVID-19pandemicwhilecontinuingto

supportbusinessexpansion.Thisisexempli?edbythe

record-breaking￡2.30braisedbyEIS-backedcompaniesin2021.TherecentextensionofEISuntil2035further

underscoresitscommitmenttonurturingearly-stage

businesses,positioningEISandSEISasessentialtoolsforfosteringinnovationandlong-termeconomicgrowth.

Theschemeshavehadaparticularlypronouncedimpactonjobcreationandregionaldevelopment.Between2014and

2023,EIS-backedcompaniescontributed￡192binturnover,with2023aloneaccountingfor￡38.3b.Inthesameyear,

these?rmsgenerated386kjobs.WhileLondonandthe

SouthEasthavehistoricallydominatedinvestment,regionssuchasYorkshirehavedemonstratednotablegrowth,

helpingtoreduceregionaldisparities.

Innovationisanotherareawheretheschemesshine.From

2014to2023,EIS-backedcompanies?led79.8kpatent

applications,highlightingtheirfocusonintellectualpropertyasasourceofcompetitiveadvantage.Companieswith

robustpatentportfoliosaremorelikelytoattractadditionalinvestment,aswellasgoontowinpublicfunding.In2023,EIS-backed?rmssecured￡644mingrants,apeakyearforthesecompanies.

Femalefoundersareplayinganincreasinglysigni?cant

roleinthislandscape.Today,morethan14.0kEIS-backed

companieshaveatleastonefemalefounder,markinga

steadyriseinfemaleentrepreneurship.Thesecompanies

raised￡7.61binEISinvestmentbetween2014and2023,withinvestmentpeakingat￡1.52bin2022.In2023,25.0%of

EIS-backeddealsweresecuredbycompanieswithatleastonefemalefounder.Moreover,EIShasplayedacrucialroleinfosteringunicorncompanies,with46.5%oftheUK’s43activeunicornsbene?tingfromEISsupport.

Lookingahead,EISandSEISwillremainessentialin

drivinginnovation,especiallyamongknowledge-intensivebusinesses.Withthebackingoftheseschemes,theUK’sentrepreneuriallandscapeiswell-positionedforfuture

growthandresilience.

EIS30thAnniversary

02

IntroductiontoEISandSEIS

EISstructureintheAutumnBudget.Thisstructureallows

knowledge-intensivebusinessestheopportunitytoraise

upto￡10.0mofinvestmentperyear,andinvestorscan

allocateupto￡1.00minknowledge-intensivequalifying

companies.4Theseadditionshaveallowedfurtherresourcestobeallocatedtocompaniesspecialisinginresearch-heavyindustries.Thisisre?ectedinthesigni?cant￡1.93braisedinequityinvestmentbyEIS-backedcompaniesin2018.5

Inadditionto?nancialsupport,theseinitiativeshavebeen

instrumentalinfosteringinnovation,promotingregional

growth,anddrivingjobcreation.AstheUKnavigatesfutureeconomicuncertainties,theseschemeswilllikelyremain

pivotalinsupportingthenation’sentrepreneurialecosystem.TheextensionofEISuntil2035andreducedinterestrates

mayprovideamorepositivefundraisingenvironmentfor

early-stagebusinesses.Asthehigh-growthecosystem

evolves,EISwillremainasigni?cantcomponentoftheUK’sstrategytonurtureentrepreneurshipandsustaineconomicdynamism.

AstheEnterpriseInvestmentSchememarksits30th

anniversary,itremainsabedrockoftheUK’searly-stage

investmentlandscape.EIS,alongsidetheSeedEnterprise

InvestmentScheme,hasreshapedearly-stageinvestmentinthecountry.Launchedin1994,EISwasdesignedtoexpandontheofferingoftheBusinessExpansionScheme(BES)

andaddressthecriticalfundinggapthatBritishstartups

face.Thegovernmentaimedtoaccomplishthisbyoffering

attractivetaxincentivestoinvestorswillingtotakerisksonhigh-growthpotentialcompanies.ThelaunchofEISwas

intendednotjustto?llafundinggapbuttofosterinnovationandcatalyseeconomicgrowthbymobilisingprivatesector

investmentintoemergingenterprises.

SEISwasintroducedin2012toencouragefurther

investmentinearlierandriskierenterprisesthatoften

struggletosecurethenecessarycapitaltheyneedto

grow.Theschemeaimstoaddressthisbarrierbyofferinginvestorsenhancedtaxrelief.Early-stagecompanies

bene?tingfromSEIScanraiseupto￡250kandagross

“

maximumof￡350k,whileinvestorscanreceiveupto50%incometaxreliefontheirinvestmentsatacurrentlimitof￡200k.1Together,EISandSEIShaveplayedapivotalroleinshapingtheUK’sentrepreneurialecosystem,driving

Together,EISandSEIShave

playedapivotalroleinshapingtheUK’sentrepreneurial

ecosystem,drivingover￡32.0binequityinvestmentintomorethan56.0kcompanies.

over￡32.0binequityinvestmentintomorethan56.0kcompanies.2

Overthreedecades,EISandSEIShavenotremainedstatic;theyhaveevolvedintandemwithchangingeconomic

conditions,governmentpolicies,andbusinessneeds.In2011,taxreliefunderEISincreasedfrom20%to30%.3In

2017,thegovernmentintroducedanewknowledge-intensive

1HMRevenue&Customs,“SeedEneterpriseInvestmentScheme—IncomeTaxandCapitalGainsTaxrelief(2022),”Updated2May2024.uk/government/publications/seed-enterprise-investment-

scheme-income-tax-and-capital-gains-tax-reliefs-hs393-self-assessment-helpsheet/hs393-seed-enterprise-investment-scheme-income-tax-and-capital-gains-tax-reliefs-2022

2EnterpriseInvestmentSchemeAssociation,“30thAnniversaryoftheEISCelebration,”

.uk/30th-anniversary-of-eis/

3HMRevenue&Customs,“VentureCapitalSchemesManual,”Updated7August2024

.uk/hmrc-internal-manuals/venture-capital-schemes-manual/vcm10530#:~:text=Except%20where%20it%20

is%20restricted,the%20liability%20for%20the%20year%2C

HMRevenue&Customs,“Useaventurecapitalschemetoraisemoneyforyourknowledgeintensivecompany,”lastupdated5October2018https://

4HMRevenue&Customs,“Useaventurecapitalschemetoraisemoneyforyourknowledgeintensivecompany,”lastupdated5October2018

.uk/guidance/use-the-enterprise-investment-scheme-eis-

to-raise-money-for-research-development-or-innovation

5HMRevenue&Customs,“EnterpriseInvestmentScheme,SeedEnterpriseInvestmentScheme,andSocialInvestmentTaxRelief,May2019

.uk/media/5ced07bf40f0b64cd467e9a3/

May_2019_Commentary_EIS_SEIS_SITR_National_Statistics.pdf

EIS30thAnniversary

03

EISTimeline

Sinceitsinceptionin1994,EIShassupportedthedevelopmentofhigh-growthbusinessesacross

theUK.Todate,EISanditssisterschemeSEIS

havecollectivelydriven￡32.0bofinvestmentintoover56.0kcompanies.6

Inthelast30years,EIShashadtoevolvetoalignwithshiftinggovernment,business,andinvestorneeds.Atthesametime,theBritisheconomy

hasexperiencedmultipleglobalandeconomic

hardships,includingthe?nancialcrashof2008,Brexit,and,mostrecently,thecost-of-livingcrisis.

Despitethis,theschemeshavecontinuedtoplayanintegralroleinfacilitatingaccesstocapital.Arecord4.48kcompaniesraised￡2.30bin

investmentin2021viaEIS—thehighestnumberandvaluerecordedsinceitsestablishment.7In2022,equityinvestmentraisedviatheschemedeclinedby15.0%,droppingfrom￡2.30bto

￡1.96b.8Thisdecreaseininvestmentmarksa

returntopre-COVIDlevelsofinvestment,whichcan,inpart,beattributedtoamarketreversionandachallengingeconomiclandscape.

EIShasadaptedovertheyearstocontinuetomeettheneedsofgovernment,business,andeconomicneeds.Recentsteps,suchasbroadeninginvestor

reliefsunderSEISandextendingEISuntil

2035,demonstrateacommitmenttosupporting

investmentinearly-stagebusinesses.Thereis

nodoubtthatbusinessesandinvestorswillface

novelandcomplexchallengesinthefuture,and

thecontinuedsuccessofEISwilldependonthe

government’sabilitytomeettheseneedsand

promoteinnovationinthehigh-growthecosystem.

6EnterpriseInvestmentSchemeAssociation,“30thAnniversaryoftheEISCelebration,

”.uk/30th-anniversary-of-eis/

7HMRevenue&Customs,“EnterpriseInvestmentScheme,SeedEnterpriseInvestment

SchemeandSocialInvestmentTaxReliefStatistics:2023,”17May2023

https://

.uk/government/statistics/enterprise-investment-scheme-seed-enterprise-

investment-scheme-and-social-investment-tax-relief-may-2023/enterprise-

investment-scheme-seed-enterprise-investment-scheme-and-social-investment-tax-

relief-statistics-2023

8HMRevenue&Customs,“EnterpriseInvestmentScheme,SeedEnterpriseInvestment

SchemeandSocialInvestmentTaxReliefStatisitcs:2023,”23May2024https://

.uk/government/statistics/enterprise-investment-scheme-seed-enterprise-

investment-scheme-and-social-investment-tax-relief-may-2024/enterprise-

investment-scheme-seed-enterprise-investment-scheme-and-social-investment-tax-

relief-statistics-2024

EIStimeline(1994–2024)

1994-

1995-

1996-

1997-

1998-

1999-

2000-

2001-

2002-

2003-

2004-

2005-

2006-

2007-

2008-

2009-

2010-

2011-

2012-

2013-

2014-

2015-

2016-

2017-

2018-

2019-

2020-

2021-

2022-

2023-

2024-

CreationoftheEnterpriseInvestmentScheme(EIS)replacingthe1983BusinessExpansionScheme

VentureCapitalTrusts(VCT)schemeintroduced,providingreliefsforindividualsinvestingin

approvedcompanies

Capitalgainstax(CGT)exemptionintroducedtoEISandtheindividualinvestmentlimitincreasesfrom￡100kto￡150k

Updateddefinitionofresearchanddevelopment.Therequiredholdingperiodforincometaxreliefwasreducedfromfiveyearstothree

EISincometaxreliefincreasedfrom￡150kto￡200k

EISincometaxreliefincreasedfrom￡200kto￡400k

EISincometaxreliefincreasedfrom￡400kto￡500k

EISrateofreliefwasincreasedfrom20%to30%

EstablishmentoftheSeedEnterpriseInvestmentScheme(SEIS)

CGTreinvestmentreliefchangedsothat50%oftheamountreinvestedisexempt

EISandVCTrulesupdatedwithnewageandlifetimeinvestmentlimits(higherforknowledge-intensive

companies)andagrowthconditionadded

Anewprinciples-basedtest,therisk-to-capitalcondition,wasaddedtoEIS,SEIS,andVCTschemes

25thAnniversaryofEIS

RecordnumberofcompaniesandtotalfundsraisedthroughEISsincethescheme'sinception

30thanniversaryofEIS

EISandVCTsunsetclausesextendedtoApril2035

EIS30thAnniversary

04

SummaryofEIS

NumberandvalueofEISfundsraisedintheUK(2013-14to2022-23)

AmountraisedNumberofcompaniesraisingfunds4,455

4,185

4,080

4,205

4,070

3,765

2013-142014-152015-162016-172017-182018-192019-202020-212021-222022-23

￡29.9b

raisedbyEIScompaniessince1994

3,575

1.98b

2,850

1.59b

3,380

1.93b

1.91b

3,665

￡1.96b

raisedbycompaniesundertheEISin2022-23

￡157m

raisedbycompaniesundertheSEISin2022-23

2.01b1.87b1.89b1.66b2.30b1.96b

￡436m

raisedbycompaniesraisingfundsforthefirsttimein2022-23

Sinceitsinceptionin1994,EIShasbeenacornerstoneof

theUK’seffortstofosterentrepreneurialgrowth.Inthepast

30years,EISandSEIShavefacilitatedatotalof￡32.0b

infundstoover56.0kcompaniesintheUK.10Thescheme

offerstaxreliefstoindividualinvestorswhopurchase

newsharesinqualifyingcompanies,providingafunding

channelforsmallcompanieswhomightotherwisestruggleto?ndinvestment.Companiescanraiseupto￡5.00meachyearandamaximumof￡12mintheirlifetimethroughthescheme.11

ToqualifyforEIS,acompanymustmeetthefollowingcriteria:

?MustbepermanentlyestablishedintheUK

?Mustnotbetradingonarecognisedstockexchange

?Mustnothavebeentradingformorethansevenyearsorbecontrolledbyanothercompany

?Musthavefewerthan250employees

?Grossassetsmustnotexceed￡15.0mbeforeinvestment

Theschemehasexperiencedsigni?cantmilestonesoverthelast30years.Fundinghassteadilyincreasedsince

2010,supportedbyhistoricallylowerinterestratesand

increasedinvolvementfromfunds.In2020-21,thenumberofcompaniesraisingEISfundsdeclinedby9.84%,largelyduetotheimpactoftheCOVID-19pandemic.12Therewasastrongrecoveryin2021-22,leadingtoarecord-breaking￡2.30b.In2022-23,thenumberofcompaniessecuring

fundingfellto￡1.96b,representingadeclineof14.8%.

9HMRevenue&Customs,“EnterpriseInvestmentScheme,SeedEnterpriseInvestmentSchemeandSocialInvestmentTaxReliefStatistics.”12December,2014

.uk/government/collections/enterprise-

investment-scheme-and-seed-enterprise-investment-scheme-statistics

10HMRevenue&Customs,“EnterpriseInvestmentScheme,SeedEnterpriseInvestmentSchemeandSocialInvestmentTaxReliefStatistics.”12December,2014

.uk/government/collections/enterprise-

investment-scheme-and-seed-enterprise-investment-scheme-statistics

11HMRevenue&Customs,“UsetheEnterpriseInvestmentScheme(EIS)toRaiseMoneyforYourCompany,”January1,2016

.uk/guidance/venture-capital-schemes-apply-for-the-enterprise-investment-

scheme.

12HMRevenue&Customs,“EnterpriseInvestmentScheme,SeedEnterpriseInvestmentSchemeandSocialInvestmentTaxReliefStatistics,”5May,2022

.uk/government/statistics/enterprise-

investment-scheme-seed-enterprise-investment-scheme-and-social-investment-tax-relief-may-2022/

EIS30thAnniversary

05

Regionalgrowthinvalueof20m300m

EISfundsraised(percentagechange,2013-14vs2022-23)

Numberofcompanies:1358.00%

Valueoffundsraised:￡57.0m32.6%

Numberofcompanies:24020.0%

Valueoffundsraised:￡103m8.42%

NorthernIreland

Numberofcompanies:5042.9%

Valueoffundsraised:￡22.0m46.7%

NorthWest

Numberofcompanies:20517.1%

Valueoffundsraised:￡93.0m60.3%

Wales

Numberofcompanies:8023.1%

Valueoffundsraised:￡29.026.1%

Scotland

Numberofcompanies:20042.9%

Valueoffundsraised:￡86.0m100%

NorthEast

Numberofcompanies:45-18.2%

Valueoffundsraised:￡19.0m0.00%

YorkshireandtheHumber

Numberofcompanies:10561.5%

Valueoffundsraised:￡37.085.0%

EastMidlands

Numberofcompanies:115-4.17%

Valueoffundsraised:￡44.0m-17.0%

EastofEngland

Numberofcompanies:32541.3%

Valueoffundsraised:￡188m46.9%

London

Numberofcompanies:2,10090.0%

Valueoffundsraised:￡1.00b38.1%

WestMidlands

SouthEast

Numberofcompanies:60517.5%

Valueoffundsraised:￡279m-23.4%

SouthWest

Regionalgrowthanalysis

CompaniesintheUKattractedsigni?cantlymoreequity

investmentinthe2022-23?nancialyearthanin2013-14.

Notably,tworegionsexperiencedsigni?cantgrowthinthis

period.YorkshireandtheHumbersawastaggering85.0%

increaseininvestment,culminatinginatotalof￡37.0mfor

2022-23.AmongtheinvesteesisAMOPharma,aLeeds-

basedbiopharmaceutical?rmdevelopingdrugstotreat

debilitatingdiseases,includingraregeneticdisorders.Sinceitsinceptionin2015,thecompanyhasgrowninheadcountby75.0%,fromfouremployeestosevenin2022.

Ontheotherhand,onlytworegionsexperiencedadecline

inthevalueoffundingoverthisperiod.TheSouthEast

facedthesteepestdrop,withEISfundingplummetingby

23.4%,resultinginatotalof￡279min2022-23—downfrom

￡364min2013-14.TheEastMidlandsalsosawasigni?cantdecrease,withinvestmentfallingby17.0%,reducingtheEISfundingto￡44.0m.

Despitetheimpressivegrowthinsomeregions,LondonandtheSouthEastcontinuedtoleadinoverallfundingraised

during2022-23.Londonattractedasubstantial￡1.00b,whiletheSouthEastsecured￡279m,outliningtheirpositionsas

thetopdestinationsforequityinvestmentintheUK.AmongEIS-qualifyingcompaniesintheregionisMoneybox,amobileappprovidingeasyaccesstosharesandsavingsISAs.The

London-based?rmreportedaturnovergrowthof183%year-on-year,from￡10.2min2022to￡28.7min2023,whileits

headcountgrewfrom267employeesto321inthesametimeperiod.

EIS30thAnniversary

06

Impactofthescheme

JobsandturnovergeneratedbyEIScompaniesintheUK(2014–2023*)

Turnover●Numberofemployees

￡38.3b

￡32.9b

￡29.8b

386k

￡22.1b

253k

218k

187k

158k

116k

60.3k

36.9k

2014201520162017201820192020202120222023

￡6.55b

￡19.8b

￡15.9b

￡5.01b

￡9.19b

￡12.7b

343k

282k

●

￡192b

totalturnoverofEIS-backedcompanies(2014–2023)

￡38.3b

totalestimatedturnoverofEIS-backedcompanies(2023)

386k

totalestimatednumberof

jobscreatedbyEIS-backed

companies(2023)

EIS-backedcompanieshavebeenpivotalindrivingjob

creationoverthelastdecade,withheadcountgrowth

risingfrom37.0kin2014toapeakof343kin2022.This

remarkablerisehighlightsthecrucialroleEIS-backed

companiesplayinthebroadereconomy.Digitalsecurity

platformRedSiftisamongthecompaniesinluencingjob

creationintheUK.TheLondon-basedcompanygrewits

teambysixfoldoveraspanof?veyears,andsupplementeditsgrowthviatheacquisitionofnetworksecurity?rm

HardenizeinOctober2022.RedSiftreceivedbackingfromOxfordCapitalandHighlandEuropetodrivejobcreation

domesticallywhiletargetingitsUSexpansion.

Similarly,thetotalturnoverrecordedbyEIS-backedcompanieshasincreasedyear-on-year,reachinganunprecedentedpeakof￡32.9bin2022.Thistrend

underscorestheroleof?nanceinallowingbusinessesto

scaletheiroperationsandresourcefacilities.ItalsorelectsthehigherpopulationofEIS-backedbusinessesinrecent

years.Thesebusinessesexperiencedlandmarksuccessin

2022—allowingmanytobolstertheirheadcountgrowth

andscalingtargets.AmongtheseisCambridge-based

Microbiotica,apharmaceutical?rmdevelopingtherapies

formedicalconditionssuchasinlammatoryboweldisease.Anotherprominent?rmwasAeroCloudSystems,which

developscloud-basedmanagementsoftwarefortheaviationindustry.TheStockport-based?rmreceivedsigni?cant

backingfromHaatchandPraetura’sEISfunds.

*The2023estimaterelectstheongoingpositivetrendin

reportedturnoverandemployment?guresforbusinesses

supportedbytheEIS.It’slikelythatthefull2023?gureswillexceedthoseof2022.

EIS30thAnniversary

07

Regionalimpactofthescheme

Overthelastthreedecades,EIShasplayedacrucialrole

indevelopinglocaleconomiesacrosstheUK,drivingjob

creationandwealthgeneration.Accesstofundingisvitalforacompany’sgrowth,andtheschemehasbeeninstrumentalinattractinginvestmenttosmallandmedium-sizedenterprises,thereforefosteringinnovation.

Notably,NorthernIrelandhasexperiencedremarkablegrowth,withEIS-backedcompaniesexpandingtheiremploymentfrom111employeesin2014,to1,867in2023.Duringthesameperiod,turnoverforEISrecipientsheadquarteredinthisregionsurgedfrom￡39.9mto￡111m.Thisgrowthhighlightshowfunding

supportsnotjustthecompany’sdevelopment,butalsojobcreationandturnovergeneration.

whichmanufacturesarangeofnon-alcoholicbeers.Todate,

LuckySainthasraised￡21.5minequityviaeightroundsof

funding,withsigni?cantbackingfromJamJarInvestmentsandAnotherwayVentures.Thecompany’sworkforcehasgrown

morethansixfoldsince2019,underscoringtheimpactofEISinfosteringjobcreationandinnovationwithinhigh-growth

companies.

Waleshasalsoseenmarkedbene?tsfromEIS,witha673%

increaseinturnoveramongEIS-supportedcompaniesbetween2014and2023,anda40.0%increaseinannualturnover.ThissubstantialgrowthdemonstratesEIS’roleindrivingeconomicactivityandsupportingthegrowthofinnovativeenterprises

acrosstheUK.

TheregionreportingthehighestturnoverwasLondon,withatotalof￡11.3breportedinthelatest?nancials.Arapidly-growingEIS-backedcompanyintheregionisLuckySaint,

Jobsandturnovergenerated(2014vs2023)

Scotland

Numberofemployees:14,539344%

Turnovergenerated:￡1.48b291%

NorthEast

Numberofemployees:4,247420%

Turnovergenerated:￡240m238%

NorthernIreland

Numberofemployees:1,8671,582%

Turnovergenerated:￡111m178%

YorkshireandtheHumber

Numberofemployees:17,165483%

Turnovergenerated:￡765m129%

NorthWest

Numberofemployees:12,970476%Turnovergenerated:￡1.38b346%

EastMidlands

Numberofemployees:8,113622%

Turnovergenerated:￡771m187%

Wales

Numberofemployees:4,018408%

Turnovergenerated:￡434m673%

EastofEngland

Numberofemployees:14,345542%

Turnovergenerated:￡1.70b420%

WestMidlands

Numberofemployees:9,321394%Turnovergenerated:￡819m263%

London

Numberofemployees:110,149611%

Turnovergenerated:￡11.3b477%

SouthWest

Numberofemployees:12,399486%

Turnovergenerated:￡688m214%

SouthEast

Numberofemployees:25,830582%

Turnovergenerated:￡2.27b178%

EISA30thAnniversary

08

Casestudy: