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If you’re curious to know what’s been happening in the tech space this past week, then look no further… our Friday Tech Round Up is your weekly dose of the latest and greatest tech news!
In episode 8, we explore FinTech funding, green tech and a brand-new chip – plus many more.
FinTechs face funding challenges
As inflation surges, central banks have begun to raise their rates – having a knock-on effect on FinTechs.
FinTechs have boomed throughout the pandemic, but now even Klarna is trying to raise fresh cash at less than half its peak $46 billion valuation. Expansion can no longer be fuelled by cheap money and business models must be demonstrated by profits. Some companies are even discussing selling themselves or accepting lower valuations to stay open.
UK places high in green tech
According to a recent study of the European clean energy sector, The UK has been ranked fourth in Europe for green tech innovation.
The research, which analysed investments and patents, placed:
- Germany
- Sweden
- France & the Netherlands (joint third)
- UK
The researchers, Bower Collective, found just under four in 10 green start-ups in the UK are working towards affordable and clean energy, and the UK has issued the third most green technology patents in Europe at 1,066.
Ambitious targets to connect UK
Jurassic Fibre, a broadband internet network developer, has big plans to rollout its ultrafast fibre network to cover 500,000 homes and businesses across 30 towns and villages in the South West by 2026.
The Chancellor of the Exchequer Rishi Sunak MP to Jurassic Fibre’s Devon headquarters in Honiton said:
“Improving digital connectivity across rural communities in the South West is a vital part of our ambitions to level up every corner of the country”.
Michael Maltby, CEO, Jurassic Fibre, said:
“By increasing our commitment, we are firmly demonstrating our dedication to both supporting the Government’s levelling up agenda and making the South West an attractive region to live, work, invest and visit”.
World first ultra-fast, polarisation-based photonic chip created
Researchers from the University of Oxford have developed an ultrafast computing chip that uses distinct polarisations of light to maximise information storage density and processing performance.
Wavelength and polarisation are two basic characteristics of light that may be used to encode and (de)multiplex information.
If you’d like to learn more, check out Science Advances.
HPE green goals ahead of schedule
Hewlett Packard Enterprise (HPE) is picking up the pace towards its ‘net-zero organisation’ target by pledging to do so 10 years ahead of schedule.
To keep it on track to achieve this goal, the company has set itself a series of interim targets – which includes the ramp up of renewable energy, rolling our out a mandatory climate learning programme and also, directly linking climate metrics to the level of compensation that members of HPE’s executive committee receive.
GlobalLogic shoutouts
Ever wondered how can we use Data Engineering and Data Science to tackle problematic sales of pets online?
Well, Keith Hindle – Principle Consultant and Roger Zorlu – Data Scientist at GlobalLogic will be discussing just that at the Manchester Digital Member Conference on Thursday 30th June!
We're excited to hear from Keith and Roger, alongside a number of guest speakers, so keep your eyes peeled for updates around the event or even book your ticket here.
And that’s it!
Come back next week for even more tech news.
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