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Start-ups: AI-powered bus networks, UK tech dominates European VC funding, and women start-up founders surge
Credit: Will McCue
In the past month, we’ve seen some uplifting news in the world of UK start-ups. Partnering with Transport for Greater Manchester (TfGM), transport start-up CitySwift is seeking to optimise Manchester’s travel network with AI, making TfGM the first franchised travel authority to use the technology. In other news, the UK secured nearly a third of all VC funding in Europe in the first half of 2024. Finally, 2023 saw more women start-up founders in the UK than ever before.
CitySwift transforms Manchester bus network with AI
In a first-of-its-kind move by a franchised travel authority in the UK, Transport for Greater Manchester (TfGM) has partnered with CitySwift, a leader in performance optimisation for the travel sector, to optimise Manchester’s bus network using AI.
Underpinned by powerful AI data processing, CitySwift is already helping to optimise over a billion passenger journeys annually.
The UK tech sector secured a third of the total European VC funding in the first half of 2024. Accounting for 32% of the total funding pot, the UK tech sector had increased 16% from the previous year.
Cities London and Cambridge also saw impressive rises in funding, with annual growth in investments sitting at 30% and a whopping 82% respectively.
Still work to be done but women founders at record high
There is no doubt that entrepreneurship in the UK is still heavily skewed to men, with women founders sitting at just 18%. However, that percentage is not cause for total concern, as it signified the highest number of women founders on record.
There is certainly room for optimism as the number of women founders continues to grow year-on-year. So much so that the number has doubled since 2018.
