The number of tech startups in the UK reached a seven-year high in 2014, according to KPMG, which said it is just a "matter of time" before the country rivals the US West Coast as a tech hub.
In its Tech Monitor UK report, KPMG said the number of fledgling tech firms rocketed 40 per cent annually in 2014, hitting its highest peak since the financial crisis.
Across the UK, 76 per cent of startups from across all sectors managed to survive last year, but in the tech sector, the survival rate rose to 82 per cent.
KPMG's head of technology, Tudar Aw, said: "The survey results echo my personal view that the UK tech startup scene is vibrant and far outstripping other sectors. For those naysayers, it also shows that they have a higher survival rate than the UK average for all startups. I sense momentum is building and that it is only a matter of time when we begin to rival the West Coast."
The UK tech sector as a whole enjoyed "robust" growth last year, the report added, claiming it marks the widest gap in performance between the tech market and the rest of the UK economy for six years.
KPMG said the tech sector was a jewel in the UK's economic crown.
"In the run-up to the general election, the message from the latest Tech Monitor UK survey is clear; the tech sector remains a star performer of the economic recovery, and the future looks resoundingly bright in terms of industry growth and job creation," Aw said.
Vendor's announcements include AI-powered Microsoft Office, a move away from password verification and an alliance with Adobe and SAP
Vendor claims hackers are hijacking machines to mine for cryptocurrency
Nearly half of SMBs are planning to invest in digital workflows to reduce their paper-based processes by 2025, according to Quocirca
The charter has pulled together the biggest names in tech in an unprecedented attempt to address the tech industry's lack of diversity. Tom Wright asks how it plans to do it