The Royal Society Science 50 Index
SUMMARY AND FAQ
The Royal Society, in partnership with the Science Museum and Silicon Valley comes to the UK (SVC2UK) is monitoring a growing list of 375 ‘’fast growth’ Science Based companies. This is the just beginning – we plan to watch this list over time and provide regular updates of the Science 50.
We welcome additions to this list and invite others in the industry to add companies with relevant data. If you have suggestions, please add the Company Name, Website and 50-100 word explanation of how their company uses ‘science’, yourself to the Google spreadsheet and we’ll take it from there!
Why has this been created?
Our analysis shows that the average ANNUAL growth rate in turnover of the 50 fastest-growing science based companies is 92%.
It is important that we all recognise and celebrate the contribution these companies make to UK’s economic growth and that we support these leaders in attracting talent and customers.
How did the companies get on the list?
The companies are a combination of the fast growth companies already being monitored by the Science Museum, SVC2UK and The Royal Society in response to the link between science and economic growth and what is taught in schools and universities.
The financial information was based on turnover figures in 2011, 2012 and 2013. We recognise that this is not perfect and that there are many other ways of doing this, but none-the-less, we wanted to make a start. To that end, we are very grateful to Duedil for donating senior resources to us so that we could create a meaningful index that allows us to monitor the progress of these companies over time. This simply would not have been possible without their help.
Companies with turnover less than £50,000 in 2011 or with incomplete turnover information were removed. This left 157 companies that we had complete information for, the total turnover of which was £1,854,050,929 in 2013. The figure for 2012 was £1,123,688,317 which was a 65% increase.
What was the average TURNOVER growth rate for the top 50 companies in this list? How much money is being paid by customers to get their hands on the products and services of these companies?
The top 50 companies total combined turnover was £1,312,707,840 in 2013 which was a 92% increase from the 2012 figure of £684,596,030.
What was the average employment growth rate for the top 50 companies in this list?
We are very curious about that too, particularly because of the outstanding research being done elsewhere that links job creation to the high growth companies. We were excited to read about the OECD research that showed 100% of net new jobs created was by companies less than 5 years old, we enjoyed reading that 3 million new jobs were being created by companies in the ‘app sector’ and we were very interested in the research done that showed that companies that were being mentored produced 23% employment growth versus ‘normal small ones’ that laid off people in the last few years. Please feel free to encourage us to look more deeply into the employment figures for the companies on our list – this will help us make the case to owner of that list.
The press release can be seen here.
Below is a map of the UK showing the spread of these fast growing companies across the country. Please click here for an interactive map.